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

[GandK 168]

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.

http://www.huffingto..._n_1873683.html

Edited September 11, 2012 by GandK

[PalestineMyHeart 1,897]

He's also hoping Romney can call off the dogs from the Justice Department and the Securities and Exchange Commission over his little trouble in Macau...

[웃 910]

He also wants a strong pro-Israel supporter that supports Israeli rights.

[PalestineMyHeart 1,897]

He also wants a strong pro-Israel supporter that supports Israeli rights.

Adelson has said that he's a one-issue guy, and that issue is Israel. However, what he's supporting (Israel takes the West Bank; no 2-state solution) will result in the destruction of Israel.

Edit: * at least the Israel as we know it (the "Jewish State.")

Edited September 11, 2012 by wife_of_mahmoud

[Mr. Big Dog 10,747]

Look, can't blame the insanely rich to support Mitt. But the insanely rich don't have enough votes to put you over the top. It's the poor schmucks out in flyover country that support Mitt thinking that he's actually got something to offer them that are pathetic. Those that are ready to re-distribute to the top hoping for a bigger crumb to trickle down on them. The shite that hasn't ever worked. Do it again and hope for a better outcome. That's insanity.