Blog on the Run: Reloaded

Thursday, July 7, 2011 8:20 pm

Beyond this point there be torches and pitchforks


Richard Epstein, quoted without comment:

Take a chief executive officer who earns ten times as much as the president does per hour. What is gained by stranding him in an airport, having him wait with countless other travelers—whose time is not worth one percent of his time—to catch a plane that might not get him to his final destination?

The tougher tax treatment of jet owners will inevitably lead to less use of these corporate jets. What the nation gets in direct taxes against corporate CEOs it loses in the reduced profits of the businesses that no longer use corporate jets as they once did.

OK, one comment: Herbert Hoover screwed up in his response to the Depression, but if one examines the whole of his public career, he wasn’t nearly the bologna pony* that the people who write for the institute that bears his name make him look like.

*h/t: Athenae

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