Wayne Huizenga wants to sell Dolphins

[Bootlegged]

http://www.sun-sentinel.com/sports/f...,1382404.story

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. "I'd rather give it to charity than to him."

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.

But the Obama campaign disputed Huizenga's figures on Monday, saying the candidate's plans are to raise the capital gains tax maximum from 15 percent to 20 percent – a 33 percent increase, not double. And the top rate would be for families earning more than $250,000 or individuals earning more than $200,000.

"Mr. Huizenga is wrong about Senator Obama's tax plan, which calls for a maximum capital-gains rate of 20 percent -- a third lower than the rate that President Reagan set in 1986," said Bobby Gravitz, Obama campaign South Florida spokesman. "Furthermore, Senator Obama's tax cut for 95 percent of working families will mean a whole lot of Dolfans will be better able to afford those ever-rising ticket prices."

Regardless of when he sells, Huizenga vows to maintain a 5-percent stake in the team.

"It's been 19 years and after 19 years, it's kind of time," he said. "I don't want to be one of those owners who gets real old and hangs in there, we know some of those stories already, I don't want to be one of those guys."

[SAUTO]

Originally Posted by Bootlegged

http://www.sun-sentinel.com/sports/f...,1382404.story

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. "I'd rather give it to charity than to him."

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.

But the Obama campaign disputed Huizenga's figures on Monday, saying the candidate's plans are to raise the capital gains tax maximum from 15 percent to 20 percent – a 33 percent increase, not double. And the top rate would be for families earning more than $250,000 or individuals earning more than $200,000.

"Mr. Huizenga is wrong about Senator Obama's tax plan, which calls for a maximum capital-gains rate of 20 percent -- a third lower than the rate that President Reagan set in 1986," said Bobby Gravitz, Obama campaign South Florida spokesman. "Furthermore, Senator Obama's tax cut for 95 percent of working families will mean a whole lot of Dolfans will be better able to afford those ever-rising ticket prices."

Regardless of when he sells, Huizenga vows to maintain a 5-percent stake in the team.

"It's been 19 years and after 19 years, it's kind of time," he said. "I don't want to be one of those owners who gets real old and hangs in there, we know some of those stories already, I don't want to be one of those guys."

you listening Al?

[Mr. Flopnuts]

Originally Posted by JASONSAUTO

[/B]
you listening Al?

N00b!!!!!!! May he live to 160 and run that teams operations every. single. day.

[SAUTO]

Originally Posted by Mr Flopnuts

N00b!!!!!!! May he live to 160 and run that teams operations every. single. day.

ooops sorry. forget that Al!!! what are we worried about? he will forget it before he's done reading it

[Mr. Flopnuts]

Originally Posted by JASONSAUTO

ooops sorry. forget that Al!!! what are we worried about? he will forget it before he's done reading it

He hasn't been able to read in over 20 years.

[Johnny Vegas]

capital gains tax is meaningless and it shouldn't sway voters just because of that. Here's a trivial question...

every time there was a recession what party was president? It seems like Republicans hurt the economy the worst. Don't get me wrong about the cap tax because I'm all for lower taxes because hey paying less sounds better. I think that if the taxes go up so will capital and it will balance out in the end. I just don't think Republicans will solve the economy with the same old tactics anymore. The Dems have a better understanding of it. Still a long ways to go. OH BTW I'm a registered Republican. lol

[Dark Horse]

I wonder if he would take a check.

[Hydrae]

I've got 5 bucks. Who else is in? We can buy the 'Phins, meld their best players into the Chiefs organization and then just dump the scrubs that are left as well as the team. As long as I personally am only out $5 it sounds like a good deal.

[StcChief]

amazing, this and alot of other business owners understand the implications of Obo

[Bootlegged]

Originally Posted by badmajama

capital gains tax is meaningless and it shouldn't sway voters just because of that. Here's a trivial question...

every time there was a recession what party was president? It seems like Republicans hurt the economy the worst. Don't get me wrong about the cap tax because I'm all for lower taxes because hey paying less sounds better. I think that if the taxes go up so will capital and it will balance out in the end. I just don't think Republicans will solve the economy with the same old tactics anymore. The Dems have a better understanding of it. Still a long ways to go. OH BTW I'm a registered Republican. lol

Jesus - how f'n stupid are you?

Have you ever bought a stock? I guess not..

Let me give you an example you may understand - but probably won't.

You buy 100 shares of "WMT" Wal-Mart at $45/share. You sell the stock 3 years later when its at $80/share. You've made $3500 because you A.) did your homework on a good company and invested in it B.) took a risk with your hard earned money C.) Considered the market timing and thought it was a good investment.

So you made $3500. Then tax time comes. Instead of paying your current 15% share of capital gains tax ($525), you will pay the new Obama tax of 29% ($1015).

Why? Because you took your hard earned money - risked it - and are a capitalist. Obama would like you to pay twice that amount.

So when Wayne says he needs to sell - extrapolate that out to his 100's of millions for the Dolphins. Why would he want to give that to Obama to spend on his "programs"?

[Hydrae]

Originally Posted by Bootlegged

Jesus - how f'n stupid are you?

Have you ever bought a stock? I guess not..

Let me give you an example you may understand - but probably won't.

You buy 100 shares of "WMT" Wal-Mart at $45/share. You sell the stock 3 years later when its at $80/share. You've made $3500 because you A.) did your homework on a good company and invested in it B.) took a risk with your hard earned money C.) Considered the market timing and thought it was a good investment.

So you made $3500. Then tax time comes. Instead of paying your current 15% share of capital gains tax ($525), you will pay the new Obama tax of 29% ($1015).

Why? Because you took your hard earned money - risked it - and are a capitalist. Obama would like you to pay twice that amount.

So when Wayne says he needs to sell - extrapolate that out to his 100's of millions for the Dolphins. Why would he want to give that to Obama to spend on his "programs"?

Because it does not go to the president and by definition those are "our" programs.

I understand what you mean but the wording in your post as well as the quote from Wayne irritates me.

[penguinz]

Originally Posted by Bootlegged

you will pay the new Obama tax of 29% ($1015).

The article says max of 20%. Which is it. If it is 29% where is your source?

[Cntrygal]

Originally Posted by Bootlegged

http://www.sun-sentinel.com/sports/f...,1382404.story

"It's been 19 years and after 19 years, it's kind of time," he said. "I don't want to be one of those owners who gets real old and hangs in there, we know some of those stories already, I don't want to be one of those guys."

I think he's referring to Ralph (Wilson).

[Dark Horse]

Originally Posted by Hydrae

I've got 5 bucks. Who else is in? We can buy the 'Phins, meld their best players into the Chiefs organization and then just dump the scrubs that are left as well as the team. As long as I personally am only out $5 it sounds like a good deal.

I'm in maybe we could move the team to Olathe or something

[Johnny Vegas]

Originally Posted by Bootlegged

Jesus - how f'n stupid are you?

Have you ever bought a stock? I guess not..

Let me give you an example you may understand - but probably won't.

You buy 100 shares of "WMT" Wal-Mart at $45/share. You sell the stock 3 years later when its at $80/share. You've made $3500 because you A.) did your homework on a good company and invested in it B.) took a risk with your hard earned money C.) Considered the market timing and thought it was a good investment.

So you made $3500. Then tax time comes. Instead of paying your current 15% share of capital gains tax ($525), you will pay the new Obama tax of 29% ($1015).

Why? Because you took your hard earned money - risked it - and are a capitalist. Obama would like you to pay twice that amount.

So when Wayne says he needs to sell - extrapolate that out to his 100's of millions for the Dolphins. Why would he want to give that to Obama to spend on his "programs"?

This is a completely new market. I have 6 figures in the market and I only get taxed if I sell. I bought Intel stock when it was 3.50 a share for 100 shares. I have 2,800+ shares of Intel now after so many splits. GE has also made me a butt load of money. I have around 3,100 shares after it split bought it around $4.80 for 100 shares. I'm sure you can do the math.

Here's how I look at it. If rent goes up you gotta make more money. Everyones rent will go up so everyone will create more volume to make more money to pay higher taxes. The only thing is the new recession is making capitalists save instead of spend now which brings everything down. Higher tax will save us now that we're in save mode.