Conservative Disney website: Lucas sold Star Wars to avoid taxes

Status
Not open for further replies.
A

Anticitizen One

Banned
MW-AV817_disney_20121031143850_MG.jpg


http://www.blueskydisney.com/2012/11/a-wretched-hive-of-scum-and-villainy.html

A Wretched Hive Of Scum And Villainy...
You can't take it with you...

So there appears to be more to the story of the sale than just wanting to move on...

It seems that there is a tax expiring at the end of the year, and George Lucas would have been paying at a much higher rate had he cashed out his chips at a later date. By doing so now, he leaves his family with less of a bill, and his money bin will be a little fatter for him to dole out to charity.

The Bearded One doesn't fear fans or critics, but the IRS is another matter...
Click to expand...

Here is the original article: http://www.marketwatch.com/story/ge...-planning-2012-11-01?link=MW_home_latest_news

The comments under the Bluesky article....lmao..
 
Salvor.Hardin said:
Fuck it. The guy is donating close to 4 billion to charity. I can't say I mind if he dodges a bit of tax.
Click to expand...
Holy Shit, didn't know that - he is donating all the money he got from Disney? Respect +100 if true.
 
Salvor.Hardin said:
Fuck it. The guy is donating close to 4 billion to charity. I can't say I mind if he dodges a bit of tax.
Click to expand...

The "charity" = tax shelter. And he has shares of disney. I'm not sure if he sold those and gave them to charity.
But yeah the "charity" so far is unnamed.
 
Bpatrol said:
There are conservative Disney sites? There are conservative Disney sites. The fuck
Click to expand...

I like this gem
It seems like George is afraid President Obama might get re-elected and send his tax rates skyrocketing. I can't really blame the guy. The money made off the Star Wars empire (pun intended)was from his imagination and the sweat of his brow and he has every right to keep as much of it as he can.
Click to expand...
 
Not that this is a great site or article but a lot of Economic places have discussed the timing coinciding with avoiding the rate increases.

I don't blame him for it either way. If I know I sell it now that I get a bigger part of the pie than if I sold it 3 months from now id sure as hell sell now
 
Wow... If there's one thing I hate... it's reading articles that are typed like this... it makes them seem like an intelligent, trustworthy source of information...

Also surely George is rich enough to not bat an eyelid at a higher tax bracket? Weird.
 
NoRéN;43963778 said:
Not surprised. I've heard some people bitching about Cinderella's new modern look and how it makes her look like a "slut".
Click to expand...

Wouldn't that be liberal, politically correct Disney blogs?
 
BigJiantRobut said:
Wow... If there's one thing I hate... it's reading articles that are typed like this... it makes them seem like an intelligent, trustworthy source of information...

Also surely George is rich enough to not bat an eyelid at a higher tax bracket? Weird.
Click to expand...

Depends how you look at it. Since he is investing it mostly in charity as he says once you get into the billions a few percent is a big deal. In Lucas's case since his assets are owned well before 2000 and held more than 5 years his rate is going up 5%. So that's a tax of 100-200 million dollars in increases
 
Market Watch is desperate to turn this into a political story. That's some serious silliness.
 
So this is the reason that Disney got it for the relatively cheap price of 4 billion dollars? I think someone else would have been willing to offer him more but this way he gets the money quickly, avoids taxes, and keeps his franchise in the hands of a company that can protect it.
 
apana said:
So this is the reason that Disney got it for the relatively cheap price of 4 billion dollars? I think someone else would have been willing to offer him more but this way he gets the money quickly, avoids taxes, and keeps his franchise in the hands of a company that can protect it.
Click to expand...

I suspect the price was more a factor confidence and close relationship with Disney. Lucas gets to finally walk away and he knows its relatively safe. Hell he is the largest Living non business Shareholder in Disney outside Steve Jobs Trust though wife and such wants nothing to do with Disney as far as what the stock gives them power wise.
 
Oozer3993 said:
Blue Sky Disney is in no way, shape, or form a "conservative" site. It's an excellent site for new about Disney parks and movies. They've been hinting at Disney buying out Lucasfilm for years.
Click to expand...

Honor Hunter has been speculating for years yes along with a lot of other insiders and analysts. However, I have read several articles on his blog where he has made insinuations that Disney has all these great projects but because the economy is sour thanks to...YOU KNOW...they aren't green lightning them. Also a good number of the people that follow him are very republican as you can see in the comments section. A lot of the people that comment on Bluesky also hang out on WDWmagic and I, along with many others, have had squabbles with there dumbness in the past.


AgentChris said:
Isn't George Lucas a democrat?
Click to expand...

I'm pretty sure everyone involved with Star Wars is an extreme leftist. Hell the empire was partly influenced by what transpired during the Nixon administration.
 
Anticitizen One said:
Honor Hunter has been speculating for years yes along with a lot of other insiders and analysts. However, I have read several articles on his blog where he has made insinuations that Disney has all these great projects but because the economy is sour thanks to...YOU KNOW...they aren't green lightning them. Also a good number of the people that follow him are very republican as you can see in the comments section. A lot of the people that comment on Bluesky also hang out on WDWmagic and I, along with many others, have had squabbles with there dumbness in the past.
Click to expand...

I've been reading Blue Sky for years and I've NEVER seen him mention anyone when referring to economic troubles.
 
antonz said:
Not that this is a great site or article but a lot of Economic places have discussed the timing coinciding with avoiding the rate increases.

I don't blame him for it either way. If I know I sell it now that I get a bigger part of the pie than if I sold it 3 months from now id sure as hell sell now
Click to expand...

If the bigger part of the pie is another 100-200 million now, but you could sell it later for a larger amount than you would lose with the increased tax rate, you're losing money.

If his sole goal was the immediate donation of the largest dollar amount of money as possible to charity as soon as possible, then selling it now makes sense only because he can donate quicker. However, if the goal was to have more money overall, then he could have just waited till Episode 7, gotten some merchandising cash, then pawned the rights off for 8 and 9.

I could be wrong, but if your selling a business or whatever that makes profit year after year because you want to pay less in taxes per year, that's a shit idea because you'll make profit next year, minus the extra taxes, if you keep the business or whatever rather than making no money off of it in the future. Right?

Durask said:
I know a few _very_ rich Democrats who at the same time are using every tax loophole imaginable.

Do what I say, not what I do and all that.
Click to expand...

Or, you can always do what's legal while saying "yeah, this shouldn't be available, tax me more." Much better than pushing for lower taxes for your bracket when those low taxes haven't helped anybody but yourself.
 
Ether_Snake said:
Yes, "charity", fuck funding education, health care, etc.
Click to expand...

He is donating all the Disney money to improve education in America.

In fact he is donating 99% of ALL his wealth, he signed the Warren Buffet pledge. He is devoting the rest of his life to charity. It's the same pledge Bill Gates signed.
 
Status
Not open for further replies.

Similar threads

George Lucas told an impossible story in Star Wars
2
79
894
Randall365 replied
Disney removes Star Wars from 2026
2 3
148
10K
Interfectum replied
Hey Gaf, is Disney bad at handling Star Wars?
2 3
117
6K
ManaByte replied
Andor S2 |OT| Remember Star Wars?
2 3 4
190
3K
Lord Panda replied
Star Wars Maul shadow lord annonced
38
2K
spookyfish replied
Top Bottom