JGG, we are approaching a new normal, 8 to 10 dollar fuel for pistons.

Jet A will also increase.

Yes It’s almost always later than we think, at least for us mere mortals.

I am enjoying the discussion and am not offended or upset in any way. I also don't think that I am twisting your words or using rhetorical tricks to do so. I am passionate about this stuff because I have worked my a$$ off for my wealth and it infuriates me to watch people grow their wealth via corruption vs hard work. My sole desire is to have a level playing field and we are nowhere close to that today.

I never once proposed to "punish the innocent." However, the fundamental flaw in your position is that the ultra-wealthy, along with corporations, are able to use their wealth via political corruption to have laws and regulations created or modified that make their advantages legal. So even if we actually go after those who are breaking the law (which we are not doing at all), the ones that are not actually breaking the law are still taking advantage of these kinds of loopholes that regular people are unable to use.

History shows that large amounts of wealth inequality are not good for society. Eventually the torches and pitchforks come out.

I will ask you again. Does it make sense that Warren Buffet pays a lower tax rate on his earnings than his secretary? Does it make sense that Private Equity bankers pay a lower tax rate on their earnings than the people who work at the companies they own?

As I said above, my desire is to radically simplify all of this stuff and return to a more pure form of economy. There must be a level playing field. To keep harping on the tax code, slash that thing. You earn a dollar, you pay X%, no matter how it was earned. The government must get out of the business of picking winners and losers, but they do that every day today. Then by all means we will see who the real wealth creators are and they will earn their wealth the old fashioned way, by having good ideas and working hard.

Aircraft inventory may rise slightly but they will continue to hold their value despite the high cost of fuel. My guess is that there will just be fewer hours placed on these aircraft over the next few years and aircraft ownership will be one way to hedge inflation.

An old P210, in good shape, will bring in close to 300k. I’m bringing one back with its new owner today.

Does to me. I never could understand how it ought to cost anyone more than it does anyone else to live here. I struggle with the idea that I pay tax annually on my property, or that I have zero financial privacy.

It’s cool that you ignore fact that Buffet pays thousands of times as much in taxes as his secretary, or can know that and consider that he isn’t pulling his freight.

I like how you conflate wages (low risk, high certainty of getting paid) and capital gains (high risk, low certainty of getting paid) into “earnings”. I wonder if it’s possible that taxing all “earnings” the same would reduce investment and lead to a weaker economy and more unemployment and so on. It’s probably simple-minded of me to think that raising the risk/return ratio of capital investing would affect investor behavior though, prolly oughta leave that to the smart guys such a great job running things now.

A buddy of mine is getting unsolicited calls about his airplane offering stupid amounts of money.

I was at the strip mall down the street the other day in my little BMW. It's really nothing that special, but somewhere along the way it apparently became a collectable (I never noticed). So I'm walking back to the car with my pizza to find some guy walking around it. I'm like "hmmm, what's up with this?" Anyway, I walk up and toss my pizza in the passenger seat and this guy offers twice what I thought it was worth on the spot and gives me his card. Its a stupid amount of money for a little car.

The world has gone plain loco.

Best,
Rich

Only 4x P210s on Controller right now. I’d be wise to sell mine right now but I can’t bring myself to do it.

Approximately 25% of the GA MARKET is in high demand and will hold their value even with high fuel costs. These planes are finished, in good condition and ready to fly.

The remaining 75% of the Piston fleet that are “not in prime condition” will have declining prices with increased fuel cost.

Today it takes an incredible amount of money and time to restore an old piston plane. Buyers today don’t want old planes If you can’t find parts or have to wait 6 months or longer for engine, paint and avionics.

I am enjoying the discussion and am not offended or upset in any way. I also don't think that I am twisting your words or using rhetorical tricks to do so. I am passionate about this stuff because I have worked my a$$ off for my wealth and it infuriates me to watch people grow their wealth via corruption vs hard work. My sole desire is to have a level playing field and we are nowhere close to that today.

I never once proposed to "punish the innocent." However, the fundamental flaw in your position is that the ultra-wealthy, along with corporations, are able to use their wealth via political corruption to have laws and regulations created or modified that make their advantages legal. So even if we actually go after those who are breaking the law (which we are not doing at all), the ones that are not actually breaking the law are still taking advantage of these kinds of loopholes that regular people are unable to use.

History shows that large amounts of wealth inequality are not good for society. Eventually the torches and pitchforks come out.

I will ask you again. Does it make sense that Warren Buffet pays a lower tax rate on his earnings than his secretary? Does it make sense that Private Equity bankers pay a lower tax rate on their earnings than the people who work at the companies they own?

As I said above, my desire is to radically simplify all of this stuff and return to a more pure form of economy. There must be a level playing field. To keep harping on the tax code, slash that thing. You earn a dollar, you pay X%, no matter how it was earned. The government must get out of the business of picking winners and losers, but they do that every day today. Then by all means we will see who the real wealth creators are and they will earn their wealth the old fashioned way, by having good ideas and working hard.

If he is willing to pay twice, tell him you'll take 3x.

Does to me. I never could understand how it ought to cost anyone more than it does anyone else to live here. I struggle with the idea that I pay tax annually on my property, or that I have zero financial privacy.

It’s cool that you ignore fact that Buffet pays thousands of times as much in taxes as his secretary, or can know that and consider that he isn’t pulling his freight.

I like how you conflate wages (low risk, high certainty of getting paid) and capital gains (high risk, low certainty of getting paid) into “earnings”. I wonder if it’s possible that taxing all “earnings” the same would reduce investment and lead to a weaker economy and more unemployment and so on. It’s probably simple-minded of me to think that raising the risk/return ratio of capital investing would affect investor behavior though, prolly oughta leave that to the smart guys such a great job running things now.

It is not a law of the universe that income must be taxed. We got along for more than 130 years without an income tax. Corporate taxes are stupid, who do we think pays them? Just another way to fleece WTP while whinging about fat cats. A nice simple federal sales tax would do the trick, but would also make it plain just how heavily taxed we are. Increasing awareness of how much we pay for our government would not bode well for their collective future, both federal employees and elected officials.

It does seem to be very nearly a law of the universe that any increasing tax on capital would reduce investment in enterprise. In addition to tilting the risk/benefit calculus away from investing, taxing capital moves money into the (incredibly efficient, wise, evenhanded and sober) control of the legislature, and anyone who thinks that is a good idea is beyond help. Reducing enterprise is the same thing as reducing the opportunity for labor to labor, and move some of that capital into their own pocket.

The fundamental thing underlying all of this is the magic of the labor and imagination people exerted correctly onto things mined or grown to make stuff that is more valuable than it was before. Letting people do this without the close supervision of the ruling class is a big part of the magic of America. The more money we aim at those outside of the process (like government), the more difficult it becomes, and the less often the magic of wealth creation occurs, and the harder life is for WTP.

It is not a law of the universe that income must be taxed. We got along for more than 130 years without an income tax. Corporate taxes are stupid, who do we think pays them? Just another way to fleece WTP while whinging about fat cats. A nice simple federal sales tax would do the trick, but would also make it plain just how heavily taxed we are. Increasing awareness of how much we pay for our government would not bode well for their collective future, both federal employees and elected officials.

It does seem to be very nearly a law of the universe that any increasing tax on capital would reduce investment in enterprise. In addition to tilting the risk/benefit calculus away from investing, taxing capital moves money into the (incredibly efficient, wise, evenhanded and sober) control of the legislature, and anyone who thinks that is a good idea is beyond help. Reducing enterprise is the same thing as reducing the opportunity for labor to labor, and move some of that capital into their own pocket.

The fundamental thing underlying all of this is the magic of the labor and imagination people exerted correctly onto things mined or grown to make stuff that is more valuable than it was before. Letting people do this without the close supervision of the ruling class is a big part of the magic of America. The more money we aim at those outside of the process (like government), the more difficult it becomes, and the less often the magic of wealth creation occurs, and the harder life is for WTP.