The Homa Files

Charles Krauthammer puts the President’s railing against corporate jets into perspective in today’s Washington Post:

What have been Obama’s own debt-reduction ideas?

In last week’s news conference, he railed against the tax break for corporate jet owners — six times.

I did the math.

If you collect that tax for the next 5,000 years — that is not a typo — it would equal the new debt Obama racked up last year alone.

To put it another way, if we had levied this tax at the time of John the Baptist and collected it every year since — first in shekels, then in dollars — we would have 500 years to go before we could offset half of the debt added by Obama last year alone.

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This entry was posted on July 8, 2011 at 6:04 am and is filed under Debt - Deficit. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.