President Bush has moved onto a new, more worthy target and his name is Warren Buffett. Bushie is currently proposing a major cut in federal taxes paid by passenger carriers every year by $1.68 billion. The burden would fall on smaller operators like General Motors Corp. and NetJets Inc, Berkshire Hathaway’s business-jet charter company to make up the difference. Right now, the government gets $2,015 each time a full Boeing Co. 757-200 jet travels between New York and Florida, and $236 from a General Dynamics Corp. G4. Bush would like those numbers to change to $1,298 and $837, respectively.
Shockingly, James May, the president of the Air Transport Association, a Washington lobbyist group for major airlines, told Bloomberg: “We absolutely have been overpaying. Our passengers should not be forced to continue to subsidize corporate aircraft.”
Ed Bolen, with the National Business Aviation Association trade group, believes that the change in law, should it be enacted, would be “significant,” and that sizeable amount of small-jet users would drastically reduce their flying. (Which, on a personal note, would not be good news for DB, as we’re planning on bringing back Planespotting in the very near future).
Buffett did not respond to a request for comment by Bloomberg or Dealbreaker; his silence can only be explained by this bit of BS. Bigger fish to fry, indeed. (And that was in no way a comment on his hatred of salmon, but if you want to take it there, by all means. We’ll be riding that horse for at least another couple of weeks).
Buffett Battles Bush as Corporate-Jet Owners Fight Tax Increase [Bloomberg]
Cavemen pilot called ‘astoundingly awful’ [AdFreak]