Corporate Welfare Takes Wing at Boca Raton Airport [Image]
10 AM Saturday, Oct. 15
3300 Airport Road
Boca Raton, Florida
Let corporate welfare recipients hear our displeasure with taxpayer underwriting of their jets.
Over the last two years, Boca airport lost $650,000 because users don’t even cover current operating expenses.
But don’t worry, dear corporate welfare recipient. Big government is there when you need it. The airport received over ten million in government subsidies in 2009 and 2010 alone.
For every dollar the airport takes in from fees, it gets $1.75 in cash subsidies – both federal and state. In other words, the government covers 64% of the cost just to keep the airport running and safe. That’s the visible cash subsidy.
Another large subsidy is the airport’s exclusive use of 212 acres of prime real estate just 2 miles from the central business district. No cash changes hands. But normally, that land would bring in nearly $3 million per year in property tax alone. Instead it mostly brings in noise and stretch limos.
So the total cash subsidy to the Boca airport is $8 million in an average year.
That comes to $47,000 of taxpayer subsidies per year for each and every airplane based at this airport.
And that’s before counting the accelerated depreciation rules that conservatives so vigorously defend. The rules’ net impact is to put even more money in the coffers of corporate owners. Corporate owners. Ordinary wealthy owners need not apply…
A typical user’s reaction to the wonderful treatment at Boca Raton Airport:
“Excellent service great people!!! Flew in to attend a tea party rally and see Donald Trump speak. Was going to rent a car and [the staff] insisted on taking us in the crew car so we wouldn’t have to find a place to park. They came backed picked us up, had plane fueled and ready to go.”
We’ll serve your tea with extra sugar if you will kindly pay your own way!
Occupy Boca at 10am Saturday. 3300 Airport Road.
Let corporate welfare recipients hear our displeasure with taxpayer underwriting of their jets