Location: Pantego, Texas, United States

Tuesday, October 28, 2008

The Miami Dolphin owner wants to sell the team this year to reduce his tax penalty. Obama's supporters say that they only want to raise the capital gains tax from 15% to 20%. But, on $500 million that 5% increase amounts to $25 million, not chickenfeed. If I had any capital gains, I would take them this year. The owner apparently thinks the Congress will make the tax increase retroactive to the start of 2009. Clinton did that, so I would think he is correct. Here is ath article about the sale:

Miami Dolphins Owner: Sale of Team Should Happen Before Obama Presidency

The sale of the Miami Dolphins has been approved, but the owner hopes to expedite the transfer, saying he doesn't want to pay more capital gains taxes under an Obama administration.

Tuesday, October 28, 2008

H. Wayne Huizenga has been eyeing more than players' stats this season. As national polls swing further into the blue, the Miami Dolphins owner is saying he'd rather sell his team now than later, after Barack Obama is inaugurated.

"He wants to double the capital-gains tax, or almost double it," Huizenga told the Sun-Sentinel in Fort Lauderdale. "I'd rather give it to charity than to him.”

Huizenga is set to sell up to 45 percent of the team to Stephen Ross, who already purchased 50 percent of the team and Dolphin Stadium for $550 million earlier this year. NFL owners approved the transfer this month so it can take place any time.

"If you do it this year or you do it next year, the difference is humongous because of the taxes," Huizenga said.

The Obama camp said Huizenga's numbers are all wrong, explaining to the newspaper that the capital gains tax would only go up from 15 percent to 20 percent, a 33 percent increase, not a doubling of the tax.


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