I mean, there's really nothing special about a jet, as opposed to some equally priced piece of property.
The US government has tried cases like this before and they have drastically failed. A simple study in Macroeconomics will show that raising taxes, especially to a great extent, will actually lower the overall revenue. Im assuming their is some type of taxation on privately owned planes and the increase of this would not only lower revenue but would also harm the private jet industry as well.
Under the current provisions of the IRS code, the owners and operators of corporate jets pay the following taxes: air transportation excise tax, airport use tax, income taxes on the non-business use of the aircraft, employer tax on the value of transportation paid by the employee, and federal fuel taxes on the aviation gas used by the jet. Since the majority of corporate jet use is to transport company executives point to point in a time-effective manner, additional taxes would only serve to increase the company's cost of operations and, in the long run, increase the cost to the company's product to the end-user.
I think a corporation should only pay taxes on the profit that is related to its business activities. Having a corporation jet is something private, and it should not be taxable. A jet is just like any other asset, and should not be treated as a taxable thing. As long as the corporation pays its taxes on time, I think it is fine.
Look, no matter what you own, you pay enough taxes on your items. If someone wants to own a corporate jet, so be it. If someone wants to drive a Dodge Caravan, so be it. It is a world of choice and, by taxing those who can afford more than those that cannot, that is the wrong thing to do.