Economist Arthur Laffer says that the age of prosperity is over, and as evidence, we’re seeing a potential Obama presidency chasing off its first businessman: Wayne Huizenga wants to sell the Miami Dolphins before Barack Obama takes office and raises capital gains taxes:
“I’d rather give it to charity than to him.”
That’s the problem Mr. Huizenga — a socialist can’t tell the difference.
Check out the article on this subject in the Miami Sun-Sentinel. Huizenga says he wants to sell before capital gains taxes are doubled, or close to it. But the newspaper made sure to put a disclaimer of hope right under the headline before the story even starts: “Obama campaign disputes these figures.”
I have never seen the media spin doctoring for a candidate like they do for Obama. It’s as if we already have “state newspapers” doing the bidding for Il Duce.
But the optimist in me can see some light in all this: If the capital gains tax threat can make William Clay Ford sell the Detroit Lions, it will seriously cushion the blow of an Obama presidency.