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October 29, 2008
But Tax Policies Have no Impact on Behavior in the Real World
Monique Chartier
From the Orlando Sentinel.
Dolphins owner H. Wayne Huizenga said Sunday no date has been set for selling up to 45 percent more of the team to Stephen Ross, but the presidential election is among the issues weighing on his decision.That's because a Barack Obama administration is expected to mean higher capital-gains taxes.
"He wants to double the capital gains tax, or almost double it," Huizenga said.
Ross purchased 50 percent of the team and Dolphin Stadium for $550 million earlier this year with the intention he would eventually become majority owner. NFL owners approved the eventual transfer this month, meaning it can take place anytime.
"If you do it this year or you do it next year, the difference is humongous because of the taxes," Huizenga said.
12:10 PM
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There are plenty of South Florida sports fans wishing Huizenga would stop making excuses and get off his dime. The Dolphins might contend again once he's gone.
Posted by: rhody at October 30, 2008 11:45 AMMr. Blockbuster is the same fellow who immediately stripped the '97 Marlins of their talent in a fire sale after they won the World Series. Get me a tourniquet - my heart bleeds for Huizenga.
Yes, poor Wayne... his net worth might shrink from $20 billion to only $19.5 billion, or some equivalent decrease.
Poor guy.
I'll drum up some support for him tonight at my neighbors, after they share their obligatory can of pork and beans.
Posted by: the dude at October 30, 2008 5:57 PMWe're talking about 20% vs. 15%. Wayne Huzienga is another rich bastard looking to loot the public.
For {snip}sakes get a grip on yourselves. The CGT was once 50%. I n the 1950s the top marginal rate was 90%. I guess that makes Ike a Marxist.
Posted by: Ken at November 1, 2008 7:05 PM