Rubbish King
The gift that keeps on giving
Why do massive companies get to avoid all these taxes man, its fucking bullshit...SMH
Conservative Disney website: Lucas sold Star Wars to avoid taxes
- Thread starter Anticitizen One
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Isn't Lucas quite a big Obama supporter? I remember him being listed in a Forbes article four years ago under the title of "Obama's billionaires".
So he supports Obama who supports tax increases on success, but doesn't feel fit to pay himself. Taxes for thee not for me, as it were.
I bet $4 billion un-taxable dollars you won't see limousine-liberal gaf be too upset over this.
So he supports Obama who supports tax increases on success, but doesn't feel fit to pay himself. Taxes for thee not for me, as it were.
I bet $4 billion un-taxable dollars you won't see limousine-liberal gaf be too upset over this.
mugurumakensei
Member
This article is several people's speculation. I'm going to guess his speculation isn't really true. They just asked a bunch of financial advisers basically if there was anything to gain by doing it now and calling it truth.
ChiTownBuffalo
Either I made up lies about the Boston Bomber or I fell for someone else's crap. Either way, I have absolutely no credibility and you should never pay any attention to anything I say, no matter what the context. Perm me if I claim to be an insider
George Lucas signed Buffet's pledge to donate 99% of his wealth to charity. Conservatives hate those type of rich people who do that shit.
Soon to be almost nothing. He is in the process of giving it all away to charity since he retired.
Extra Sauce
Member
Don't forget signing the Buffet pledge, that's an integral part of his redemption.
Wait, so we are supposed to be mad at him for not waiting until taxes went up to make the deal?
I dont see the problem here. Everyone makes business decisions based on all possible, knowable information. One of the pieces of information is how much tax is involved. Middle class people who live on the border of Delaware will drive to Delaware and make major purchases (cars, electronics, etc.) because there is no sales tax in the state. Rich people buy and sell companies before taxes are expected to go up.
There is nothing illegal or even morally grey about either action.
I dont see the problem here. Everyone makes business decisions based on all possible, knowable information. One of the pieces of information is how much tax is involved. Middle class people who live on the border of Delaware will drive to Delaware and make major purchases (cars, electronics, etc.) because there is no sales tax in the state. Rich people buy and sell companies before taxes are expected to go up.
There is nothing illegal or even morally grey about either action.
go into the apple pays 2% taxes (totally legally and within the bounds of the system) and see how far this argument gets you.
Anticitizen One
Banned
Would be funny if he uses the money he saved from taxes and donated it to Obama
Ninja Scooter
Member
his MMA fighter daughter is not going to like that.
Did Lucas himself say 99%? Because I believe the actual pledge is "the majority of your wealth" (51% or more).
No, he timed the planned sale of his baby because taxes will go up next year.
Even after the sale if he donates all the proceeds he will still be worth close to 4 billion bucks. Licensing has made him a fortune
So we should always be looking to pay the most tax possible or otherwise be morally wrong?
Escape Goat
Member
there are Conservative Disney sites?
Yeah when he dies. Still very nice of the man.
Xplatformer
Member
This. Got my vote.
He is giving 99% of ALL his money. Not just the billions from the Disney sale.
Bolded because,...well, you know why, you crafty guy you.
You should be paying the tax bracket appropriated to you. He is receiving light to moderate scorn (scorn is a strong word for the reaction here, hardly anyone is even unhappy with him) because possessing a lot of money and taking action to retain more of it by way of taxes can easily elicit distrust with those who don't consciously subvert tax obligations/structure or otherwise don't possess nearly as much money and don't have the extra cash to expand their existing finances with relative ease (investing, etc.).
dark_chris
Member
A site thats talking crap about Disney?
Must be run by Michael Eisner.
Must be run by Michael Eisner.
TAJ
Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that.
$7.3 billion.
But like people said, he'll be giving away almost all of it.
Yeah, his poor kids... having to scrape by on $73 million.
ChiTownBuffalo
Either I made up lies about the Boston Bomber or I fell for someone else's crap. Either way, I have absolutely no credibility and you should never pay any attention to anything I say, no matter what the context. Perm me if I claim to be an insider
Basically conservatives are ok with avoiding taxes when wealth is passed down generationally, but hate it when it goes to charity.
He's only paying taxes as they exist today, rather than waiting to pay higher taxes in the future? Truly diabolical. That's almost as evil as purposely buying a house before the home tax credit expired.
Edit: quoting because this is an accurate summary, not because I mean to direct my sarcasm at its author.
mugurumakensei
Member
He plans to donate 99% of his wealth before he dies with 1% going to his family. 1% of George Lucas's current worth is $73 million. I don't think his daughter can complain.
i...i'm missing where i said it was diabolical? i actually said it's a good thing earlier because he's giving it to charity. more money for charity, more power to him. not sure why you think i'm attacking him.
I don't. You provided the clearest summary so I quoted you.
I was actually just about to edit that in because I realized it could be misunderstood.
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