Hypocrite Of The Day

Yet another reason I don’t think much of limousine liberals….

By now, you’ve heard that Lucasfilm has been sold to The Walt Disney Corporation for $4.05 billion dollars. However, what you may not realize is that this also means that George Lucas thinks that the Force is with Barack Obama and in six days, he will win re-election as President of the United States. Why? Because of what will happen on January 1st.

That’s the day when the Bush Tax Cuts are scheduled to expire. Right now, the current rate on income from corporate dividends and long-term capital gains is 15 percent. With the Bush cuts gone, those numbers would jump to 39.6 percent on dividends and 20 percent on gains.

Lucas doesn’t believe in “capitalist democracy” until it affects his bottom line. Isn’t that how it normally seems to work with liberals?

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  • http://mauser.livejournal.com Mauser

    Gee, but I thought the Rich wouldn’t notice it because they could afford it….

  • GoodMojo

    Taxes for thee, but not for me…

  • RockThisTown

    Hmmm . . . . I’m no accountant, but allow me to do some simple math:

    2012 Bush tax rates: 2013 Obama tax rates:
    15% dividends 39.6% dividends
    15% cap gains 20% cap gains

    4.05 billion dollar sale. Assuming Lucas realizes (let’s make it easy) 50% cap gains on this 2012 sale, he’ll pay $337.5 million in CG taxes vs waiting to sell in 2013 and paying $450 million in CG taxes, a difference of $112.5 million.

    Don’t know what his dividends are, but let’s assume they’re $100 million/year (again to make it easy). That means he’s been paying $15 million in dividend taxes, vs $39.6 million in dividend taxes he would have to pay beginning next year, a difference of $24.6 million.

    So under Obama and if not for the sale, Lucas’ tax bite would have increased by $137.1 million ($112.5m + $24.6m). Someone tell me where I’m wrong on the numbers and where Bob is wrong on Lucas’ hypocrisy.

    • PB-in-AL

      Nope, Rock, looks good to me. Would that I had that problem. ;)

      Our choice lately is whether we can swing the chicken at the grocery or buy the cheapo hot dogs.

      • RockThisTown

        The sad part is the $137.1 million Lucas saves by selling in ’12 rather than ’13 would run the fed govt for about . . . . 20 minutes.

  • Tallyman

    The morally corrupt Democrat Lucas is selling now to avoid the higher tax rate on his capital gain and keep more of his cash from the government.   George believes others should pay their fair share, while he keep his fair share.  George said,  “I don’t believe the rich should be able to buy our Government,”  but he supports Soros, Bloomberg and Buffet buying a government of Democrats.    He assuages his repressed Methodist guilt by supporting the needy with other people’s money.    He seeks a final redemption from his god, Marx, by supporting Marx’s disciples.  Each according to his need is idealist nonsense compounded by Lucas’ fantasy belief in a “good” leader/king as opposed to a “bad” leader/king.

    There is no good king, because “Power corrupts, absolute power corrupts absolutely” ~Lord Acton

    From 1Samuel 8 ~  6 But when they said, “Give us a king to lead us,” this displeased Samuel; so he prayed to the Lord. 7 And the Lord told him: “Listen to all that the people are saying to you; it is not you they have rejected, but they have rejected me as their king.  9 Now listen to them; but warn them solemnly and let them know what the king who will reign over them will claim as his rights.”

    • Igor

      “Put not your trust in man…”

  • Koala

    My family is screwed. I had better start looking for a government job.