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

[onehandle]

Source: Huffington Post

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.

Read more: http://www.huffingtonpost.com/2012/09/11/sheldon-adelson-2-billion-tax-cut-mitt-romney_n_1873683.html

[yardwork]

1. And it's legal for him to invest billions in "donations" to Romney's campaign.

Thanks for nothing, U.S. Supreme Court.

[greiner3]

2. So why not $500 million;

Or up to a billion? He'd still be ahead!

[onehandle]

4. HOMER: Wow, Mr. Burns, you’re the richest man in the world! You own everything!

MR. BURNS: Ah, yes, but I’d give it all away to have just a little bit more.

[valerief]

11. Boom! That's the Rich Guy sickness!

[ProgressiveEconomist]

17. A 1 in 3 risk reward ratio often is considered the maximum for a good investment.

Last edited Tue Sep 11, 2012, 02:28 PM - Edit history (1)

Presidential elections do not often deviate far from a 50-50 outcome.

Risking a billion for a possible $2B payoff would have a 1-2 risk reward ratio.

$500 million would be 1 in 4, and the actual $100 nillion has about a 1 in 20 risk-reward ratio. That's like betting $1 on "tails" to win a $20 coin-flip--a no-brainer for Adelson. $100 million to him is like $100 to many other people. Adelson is likely to lose, but he's by no means "betting the farm".

[jmowreader]

25. Because he's not that fucking stupid

He knows Romney is going to lose. He'll spend a couple hundred million to try to affect the downticket races, but Romney is a lost cause and gets more lost by the hour.

[sweettater]

3. I would think that is

quite an incentive to make absolutey sure "his man" wins.

[corkhead]

5. At least is IS voting in his personal best interest, unlike all those (R) teabilly dumbasses

apparently not what they meant by "paybacks are a bitch" huh?

[elleng]

6. Naturally,

and so does mitt+++++++ rmoney, probably.

[alfredo]

7. Just posted this to facebook.

[closeupready]

8. To say nothing of Matt Lauer and Katie Couric and all the others

who are overpaid smiley faces reading news stories designed to promulgate the GOP's views on reality.

Really, do people not get that most of those who support the GOP are in it for absolutely nothing more than the hard $$$ it will save them in terms of tax cuts and subsidies...?

You can put a real price tag, in dollars, on how much more a Romney presidency would be than an Obama one, if you are rich.

[enough]

9. As a DUer said the other day, if you can afford to buy an election,

you can afford to pay higher taxes.

[Scuba]

10. This is why any amendment addressing Citizens United is inadequate if it doesn't ...

... deal with money from individuals as well.

If corporate money is outlawed but Adelson or the Kochs can buy an election we're probably worse off than now.

[NICO9000]

12. To quote Gomer Pyle

"Surprise, surprise, surprise!"

We have to get rid of Citizens United ASAP. This country cannot stand another election cycle like the current one.

[Berlum]

13. How perfectly lovely for the Republican 1% Overlord Class

We poor smelly schmuck American tax-paying proles can only sigh in envy at the merciless mercenary wiles of the Republican uber class.

[Old and In the Way]

14. From Sheldon's view (and I'm sure a few others, like the Koch Brothers)....

that's a pretty damn good ROI.

"Corporations are people, too, my friend." M. Rmoney.....and these "people" obviously have a lot more political speech ($) than the rest of us.

[FlyByNight]

15. I suppose I shouldn't be shocked at this level of greed

But I am.

[azurnoir]

16. well I guess that's $100 million well invested

something like a 200% return if Rmoney is elected

[SunSeeker]

21. Yup, it's a 2,000% return. Arithmetic has a liberal bias. nt

[azurnoir]

23. oops

I was trying to not over estimate thanks for the correction but lets hope his $100,000,000 was wasted

[Kingofalldems]

18. Adelson fans demand an apology!

[jtuck004]

22. And a pet President who will bend over as Israel blows Iran off the map.

He gives away $10 million gifts like it was nothing, even for strategic purposes. I doubt he would stop at $100 million if he thought more would insure the result. He has $24+ billion dollars (eighth richest guy in the U.S., he is), and has said he will spend whatever it takes it to get his way.

After reading about him, and reading his quotes, I think his fondest wish is for such a war, and a tax deduction is just icing.
He seems to think that such a war will provide some kind of final solution, not really caring (or perhaps feeling well-insulated from) about the possibilities of a decade long depression in the U.S., the almost certain escalation of nuclear weapons in the Middle East, perhaps nuclear weapons actually being shot between other nations.

Selfish bastard. Shows that even being a sociopath is not a barrier to wealth.

[left on green only]

24. The way I understand it, he stands to gain a lot more than just $2 billion

Last edited Tue Sep 11, 2012, 08:55 PM - Edit history (1)

If Romney wins, it will mean that he will not have to spend the short rest of his sorry ass life behind bars, being that there is a current probe into his activities by the justice department of the current administration, for bribing an official of a foreign government (Foreign Corrupt Practices Act). If the man who Adelson has bankrolled wins, then I have a hard time imagining that any type of justice for him will ever prevail, but if Obama wins, then all bets are off.


http://www.thetakeaway.org/2012/jul/18/self-made-billionaire-sheldon-adelson-investigated-justice-department/


upon edit to add link