Why not use a jet charter service instead of buying a 25 million dollar corporate jet?

[PM Martin]

There is a sizable tax break for those who buy a private jet. If this is eliminated, then why can't corporate executives and the rest of the top 1% not use a jet charter service?

:shrug:

http://www.bluestarjets.com/

http://www.netjets.com/

http://www.stratosjets.com/

[shraby]

1. They like the status symbol Nothing spells rich like a private

jet. :eyes: :crazy:

[JI7]

2. because it's more about showing off

[Ian David]

3. There's also fractional ownership...

Fractional Jets
From Wikipedia, the free encyclopedia

Fractional Jets is a common term for fractional ownership of aircraft. The first such program was launched in 1986 by NetJets. Other providers include business jet operators CitationShares, Flexjet, Flight Options. Fractional aviation is also available in non-jet aircraft, such as Avantair's fleet of Piaggio P180 Avanti aircraft, PlaneSense's Pilatus PC-12 fleet, or combined fleet of jets and turboprops such as AirSprint's Cessna Citation Excels and turboprop Pilatus PC-12s or Autumn Air's use of Cessna Citation Is, IIs & Vs and Beechcraft King Air 90s & 200s.

With fractional jets, customers (referred to as "owners") buy a “share” of a plane, rather than an entire plane. The price is pro-rated from the market price of a full aircraft. Owners then have guaranteed access (50–400 hours annually or a certain number of days of the year, depending on share size) to that plane with as little as four hours’ notice. Fractional owners pay a monthly maintenance fee and an “occupied” hourly operating fee. Usually the latter is charged only when an owner or guest is on board, not when the plane is flying to a pick up point, or returning to base after completing a mission.

Owners have access to the full fleet of planes and may upgrade or downgrade for specific flights. At the end of the contract the owner can sell their share to the market whether that be the company or another owner waiting for a position, some companies charge a re-marketing fee to have this done.

More:
http://en.wikipedia.org/wiki/Fractional_Jets

[ejpoeta]

4. charters are for schools and school buses. not ceos and rich people.

[PM Martin]

6. LOL!

[Egalitariat]

5. I can't imagine, after closing one private jet loophole, that Congress would ignore the other elite

travel options. Certainly any business deductions for such expenses won't be allowed to offset corporate revenue when it comes to calculating income taxes.

[LongTomH]

7. Why can't they just buy a ticket on a commercial airline?

Is first class too close to the hoi polloi?

[corpseratemedia]

8. ewwwwwwwwwwwwww!

tsk tsk!

"first class"..."little people" now

[gkhouston]

10. If you have private jets and company pilots, you're not at the mercy

of commercial schedules. Doesn't make as much of a difference for domestic travel, but if you're flying overseas, the time saved can really add up. I can understand why companies might want private jets; I just don't think they need tax breaks for them.

[GKirk]

9. Think this one out first....

....who will get hurt the worst? Of course it will be the guys who build the planes.
It happened before when they imposed a luxury tax on yachts over a hundred grand. Thousands were
laid off in the yacht building industry.

[Speck Tater]

11. Are you trying to put the small jet manufacturers out of business? nt

[gratuitous]

12. It's not eliminating a tax break

It's extending the deductibility from five years to seven years. Instead of being able to take 20% a year for five years, it will be 14.3% a year for seven years. Weep! for the plight of the overclass.