The Ultra-Wealthy Have a Private Jet Problem
This expensive, carbon-intensive form of travel is bad for both the earth and the taxpayers who subsidize it for the ultra-rich.
The past two years have been a bonanza for private aviation.
The drastic increase in demand has led to flight delays, increased costs, and pilot shortages. But the slow deterioration of working conditions for aerospace labor has not stopped the jet-owning oligarchy from flying more than ever. Their increased share of air traffic has a direct impact on inequality and has dire consequences for the climate.
The High Flyers 2023 report from the Institute for Policy Studies demonstrates how the boom in private aviation has a disproportionate negative effect on our environment while private jet owners continue to pay less in taxes than commercial air passengers.
The private jet industry – well aware of the climate criticisms launched their way – has attempted to change the narrative by claiming that they are on the cutting-edge of developing sustainable technology that will green aviation. However, private investment in sustainable aviation fuels, or SAFs, is currently limited and does not make up significant share of the jet fuel market. Low-carbon SAFs need significant government financing to become a viable alternative to conventional jet fuel.
Our solution to mitigate the negative climate impact of private aviation is to disincentivize its use, especially if an alternative mode of transportation is already available. We can accomplish this by increasing existing duties on jet fuels and establishing new taxes on short-haul flights and the sale of new and preowned aircraft. The revenue raised could be dedicated to a fund that would then be invested in greening aviation, thereby reducing carbon emissions, and building new sustainable transportation equity projects.
The findings of our report include the following:
The United States and other countries with large markets for private jets are squandering a golden opportunity. By not applying our recommended taxes, we are failing to invest in green transport infrastructure. The collective action of workers and activists are needed to put public pressure on our elected representatives to curtail private aviation, collect on the billions of tax revenue left on the table, and invest in a more sustainable future.
by Omar Ocampo
This expensive, carbon-intensive form of travel is bad for both the earth and the taxpayers who subsidize it for the ultra-rich.
by Omar Ocampo
Investor purchases accounted for 24 percent of all residential real estate sales in Boston in the fourth quarter of 2022. A 10 percent tax on those sales could yield $82 million in revenue.
by Omar Ocampo
Having fought for labor rights under a dictatorship, the Brazilian president once again faces a violent far-right movement bent on blocking his pro-worker, pro-democracy agenda.