It appears there’s a new kind of “tenther” in town. Not the kind who believes that the Tenth Amendment to the U.S. Constitution means just what it says, and should be enforced accordingly, but the kind whose big deficit-closing ideas amount to tenths of a percentage point of the problem.
The “budget tenther” in chief? Barack Obama. As Bloomberg reports:
President Barack Obama’s proposal to end a tax break for corporate jet owners, a repeated refrain in his news conference yesterday, would achieve less than one-tenth of 1 percent of his target for reducing the federal deficit.
Changing the provision would put $3 billion into the Treasury over a decade, said two congressional aides familiar with the proposal. Democrats want to require companies that use jets for business purposes to write off the cost over seven years, instead of five years allowed under current law, said a congressional aide and a White House aide. Airplanes used for charter or commercial flights already must