Politics

Rich business execs are using Trump tax cuts to buy bigger, fancier private jets

TO GO WITH AFP STORY BY DELPHINE TOUITOU.An employee walks past models of business jets Dassault Falcon 7X at their assembly line in Biarritz, southwestern France, on April 30, 2014. "The introduction by American company NetJets of the concept of shared ownership in the world of business aviation has undoubtedly been a strong contributor to the growth and dynamism of the sector" says Olivier Villa, Program Director of French manufacturer Dassault Aviation. AFP PHOTO / GAIZKA IROZ (Photo credit should read GAIZKA IROZ/AFP/Getty Images)

When Republicans tried to sell their major tax scam to the American people, they said that it would help the average worker. Once it took effect, however, reality set in: The richest benefited from this handout. There’s been news of continued layoffs and store closures, while company shareholders get even more money. Workers, meanwhile, are left out in the cold.

If you want even more reason to rage about the despicable tax cuts, check out this Wall Street Journal article, featuring executives basically gushing about how the tax scam left them able to buy fancier planes.

I wish this was from the Onion.  Unfortunately, the article is extremely real. The euphemistically titled piece discusses how the private plane industry has been booming lately. Now companies can write off the complete cost of their pricey planes. Before the change, the deduction rate was around 50 percent for new planes, and lower for used ones.


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