Football Wayne Huizenga wants to sell Dolphins - Page 2

Bootlegged · 10-27-2008, 06:27 PM

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."

ChiefsCountry · 10-27-2008, 07:24 PM

Quote:

Originally Posted by Cntrygal

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

Soon as Wilson is gone, the Bills are gone.

Bootlegged · 10-27-2008, 07:32 PM

Quote:

Originally Posted by penguinz

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

It's widely known that he wants to take the rate back to 29% (clinton era). Once he got the nomination he is trying to push this 20% rate - although all investment professionals know that he is going to push it to 29%. (see Wayne H. and every other person on Wall St.) Here is an article about it dated 9/19/07. Notice how this fits his election cycle and now the 20% number is being floated. 20% will never happen. He is going to 29% and beyond.

http://www.usnews.com/blogs/capital-...ent-taxes.html
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Blog Entry Comments (55) Obama Pushes for Higher Investment Taxes
September 19, 2007 03:02 PM ET | James Pethokoukis | Permanent Link | Print
As part of his "Tax Fairness for the Middle Class" plan, Barack Obama is in favor of nearly doubling the capital-gains tax rate from 15 percent to 28 percent. Leaving the fairness issue aside for a moment—as well as the impact of higher taxes on economic growth—the Obama plan could also be called a "Ways in Which Government Can Collect More Taxes to Pay for New Spending" plan, since Democratic candidates are all scrambling to figure out ways to plausibly pay for new healthcare, education, and infrastructure spending if elected.

But Dan Clifton over at Strategas Research thinks the Dems may be disappointed by the ROT—return on taxes—from higher cap-gains rates. After reviewing the connections between changing cap-gains rates and government revenue during the past five decades, he concludes that higher cap gains could well be a revenue loser for Uncle Sam.

We examined the impact of capital-gains tax rates on investors realizing their gains. As the tax rate increases, investors hold their gains to avoid paying the higher tax. Conversely, lowering the capital-gains tax rate spurs realizations. Interestingly, the 1986 Tax Reform Act increased the capital-gains tax rate from 20 to 28 percent, but investors were given roughly three months before the tax increase was enacted into law. In turn, investors rushed to realize their gains before the higher tax rate kicked in, and capital-gains realizations remained depressed for nearly a decade thereafter with the higher tax rate in place.... Therefore, proposals to raise tax revenue from capital-gains tax increases will be scored as a net revenue gain to pay for new spending, but in reality, the tax revenue may not materialize, which will force tax increases elsewhere to pay for spending.

Cntrygal · 10-27-2008, 07:34 PM

Quote:

Originally Posted by ChiefsCountry

Soon as Wilson is gone, the Bills are gone.

Bootlegged · 10-27-2008, 07:35 PM

excuse me. 28%

Listen to this shit. This is one scary mf'er. Take your money and then gov't revenues decline.

You think the market crashing 4 weeks before an election is a coincidence?

Spicy McHaggis · 10-27-2008, 07:36 PM

Quote:

Originally Posted by ChiefsCountry

Soon as Wilson is gone, the Bills are gone.

Cntrygal · 10-27-2008, 07:38 PM

Quote:

Originally Posted by Spicy McHaggis

sonofa..........

Spicy McHaggis · 10-27-2008, 07:41 PM

Quote:

Originally Posted by Cntrygal

sonofa..........

Hey I think it's royally ****ed up too. Bills fans are a passionate bunch and I wouldn't wish any fan base (Oakland excepted) to lose their franchise.

Cntrygal · 10-27-2008, 07:45 PM

Quote:

Originally Posted by Spicy McHaggis

Hey I think it's royally ****ed up too. Bills fans are a passionate bunch and I wouldn't wish any fan base (Oakland excepted) to lose their franchise.

If it wasn't so painful I would think your pic was funny.

**2112** · 10-27-2008, 07:47 PM

Quote:

Originally Posted by Cntrygal

Quote:

Originally Posted by Cntrygal

sonofa..........

shaneo69 · 10-27-2008, 07:53 PM

Quote:

Originally Posted by Bootlegged

It's widely known that he wants to take the rate back to 29% (clinton era).

Gee that's funny...the Clinton era was the best period of prosperity in my lifetime (born: 1969). Dumb****.

Johnny Vegas · 10-27-2008, 07:55 PM

Quote:

Originally Posted by shaneo69

Gee that's funny...the Clinton era was the best period of prosperity in my lifetime (born: 1969). Dumb****.

yep. I made majority of my money during that era, too. Even though I hated Clinton. lol

Cntrygal · 10-27-2008, 07:57 PM

Quote:

Originally Posted by D2112

10-27-2008, 07:57 PM

What did the Bills logo used to look like?

**2112** · 10-27-2008, 08:00 PM

Quote:

Originally Posted by Cntrygal

Hey! you know you're my girl!

shaneo69 · 10-27-2008, 08:01 PM

Quote:

Originally Posted by Phobia

What did the Bills logo used to look like?

Didn't have the Canadian maple leaf, IIRC...

10-27-2008, 06:27 PM
Bootlegged One4Mahomes Join Date: Jun 2001 Location: f Casino cash: $9955545	Wayne Huizenga wants to sell Dolphins 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."
Posts: 5,234

10-27-2008, 07:35 PM	#19
Bootlegged One4Mahomes Join Date: Jun 2001 Location: f Casino cash: $9955545	excuse me. 28% Listen to this shit. This is one scary mf'er. Take your money and then gov't revenues decline. You think the market crashing 4 weeks before an election is a coincidence?
Posts: 5,234

10-27-2008, 07:57 PM	#28
Phobia Guest Casino cash: $	What did the Bills logo used to look like?
Posts: n/a