Before signing the stimulus bill (aka “Porkulus”) in February of 2009, White House Deputy Press Secretary Bill Burton said that, even though the president probably hadn’t read the entire 1,079 bill cover-to-cover, he knew it was okay to sign because he had “a team of the best legislative and economic experts in the country who advised him.” Apparently Obama didn’t check with them before letting loose on private jet tax breaks at today’s press conference.
From the Heritage Foundation:
The chief economic culprit of President Obama’s Wednesday press conference was undoubtedly “corporate jets.” He mentioned them on at least six occasions, each time offering their owners as an example of a group that should be paying more in taxes.
“I think it’s only fair to ask an oil company or a corporate jet owner that has done so well,” the president stated at one point, “to give up that tax break that no other business enjoys.”
But the corporate jet tax break to which Obama was referring – called “accelerated depreciation,” and a popular Democratic foil of late – was created by his own stimulus package.
More background on that here.
“The stimulus is working as intended! Well, except for that part… and that part… and…”
