Sheldon Adelson Stands To Get $2 Billion Tax Cut If Mitt Romney Is Elected: Report

[mother earth]

http://www.huffingtonpost.com/2012/09/11/sheldon-adelson-2-billion-tax-cut-mitt-romney_n_1873683.html
Casino mogul Sheldon Adelson's backing of GOP presidential candidate Mitt Romney may not just make political sense for the billionaire -- it may also be in his best interest financially.

Adelson has vowed to spend as much as $100 million to help sway the 2012 election. According to a new report by Seth Hanlon, the director of fiscal reform at the Center for American Progress Action Fund, Adelson could turn that investment into a $2 billion tax cut if Romney is elected.

From Hanlon's report on how Romney's tax plan could benefit Adelson:

• Cut top tax rates, saving Adelson approximately $1.5 million on his annual compensation as chief executive of his casino company.
• Maintain the special low rates on dividends, potentially saving Adelson nearly $120 million on a single year’s worth of dividends, more than enough to recoup his politi- cal donations.

• Maintain the special low rates on capital gains, allowing Adelson to make back his political donations in capital gains tax cuts just by selling a fraction of his stock.

• Provide a tax windfall of an estimated $1.2 billion to Adelson’s company, Las Vegas Sands Corp., on untaxed profits from its Asian casinos, as well as a tax exemption forfuture overseas profits. Adelson’s casinos already enjoy a special foreign tax exemp- tion from the Chinese administrative region of Macau, and Gov. Romney would make those foreign profits exempt from U.S. taxes as well.

• Eliminate the estate tax, potentially providing a staggering $8.9 billion windfall to Adelson’s heirs.


“The comfort of the rich depends upon an abundant supply of the poor.”
François-Marie Arouet de Voltaire

[HopeHoops]

1. Pocket change.

[bigdarryl]

2. This should be a NEW 30 second ad

[Avalux]

3. A nice return on his investment in Romney. And he won't be the only one.

Every single American needs to understand what's going on here. Stop worrying about someone's skin color or religion or vagina and open their eyes....