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[–] 78 points 11 months ago (8 children)

For example, a $3 million aircraft purchase – of America’s favorite business jet, the Pilatus PC‑12 – could potentially lower your tax liability by over $1 million if you’re in the 35 % bracket. This isn’t just savings; the Big Beautiful Bill private aircraft subsidy offers financial strategy at its finest. You can read more about the tax benefits of private aircraft ownership in our special report here.

Thanks magats

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  • [–] 15 points 11 months ago (3 children)

    The PC-12 is a turboprop, not a jet, though.

    It's a leech hauler alright, but not a jet.

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  • [–] 3 points 11 months ago* (last edited 11 months ago)

    The distinction isn't relevant to the point being made. Although the article title says "jets", the body of the article uses the more generic "aircraft" interchangeably with "jet."

    I'd expect this is applicable to helicopters as well, though they have a different usage.

    Edit: I looked it up and apparently helicopters are not included. The distinguishing feature is "fixed wing" aircraft.

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  • [–] 3 points 11 months ago (2 children)

    Certainly a bigger problem is how someone who can afford over $1M private jet would be in only the 35% bracket

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  • [–] 1 point 11 months ago (1 child)

    I'm out of the loop did they get rid of 39%?

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  • [–] 2 points 11 months ago* (last edited 11 months ago)

    Nope, you’re the only one who knows what’s going on!

    I was repeating the number from the person I replied to - it did cross my mind that there’s a higher bracket, but I took the number - the existence of one more bracket doesn’t really change anything. Why do the brackets end when there are so many people so much wealthier? While I understand wealthy people tend to get money through other types of income, and that’s an even bigger issue, we should have more brackets. It seems like everyone agrees to have a partly progressive income tax (disregarding other types of income) with brackets so wealthier people pay a higher percentage, it shouldn’t end at what may be considered the lowest income of the wealthy.

    Edit: 37%

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