Huizenga, Obama and taxes
Dolphins owner H. Wayne Huizenga’s concern that Barack Obama will raise capital-gains taxes if he’s elected president, has created a little stir.
As Huizenga explained briefly before Sunday’s Dolphins victory over the Buffalo Bills at Dolphin Stadium, the presidential election is one of the issues weighing on his mind as he ponders when to sell up to 45 percent more of the Dolphins to Stephen Ross. Huizenga said Obama wants to “double” or “almost double” capital-gains taxes, which could mean an extra hefty bill.
The Obama campaign, however, says their candidate’s plan raises the capital-gains tax maximum from 15 percent to 20 percent – a 33 percent increase -- and that’s only for the top earners – families who earn more than $250,000 or individuals earning more than $200,000. For more on Obama's plan and whether it can happen, read Harriet Johnson Brackey’s It’s Your Money blog.
Regardless of the actual increase, there’s no question Obama plans to raise taxes for the nation’s wealthiest citizens – and yes, Huizenga would be among them. Ross bought 50 percent of the Dolphins, Dolphin Stadium and the surrounding land earlier this year for $550 million. This month, NFL owners approved allowing the eventual transfer of up to 45 percent more of the team to Ross, which means it could take place anytime.
Huizenga said he plans to keep a 5 percent stake in the team. He said he’ll be talking with Ross about the transfer.
“We’ll see what happens,” he said. “No decision made.”


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Comments
Because the era of low taxes on the rich has created sooo many job! Yeah right! This country is in the toilet while Wayne Huizenga and his friend to us to "go eat cake." Raising capital gains tax is totally necessary.
Oh and do you know what the capital gains tax was during the Eisenhower administration? It was at 90%... I guess the economy really sucked during the 1950's.
Posted by: Yeah right | February 11, 2009 12:13 PM
harden you sound like you work at a mcdonalds. maybe you should have worked harder in school. now run along and snort up your hourly paycheck and complain some more about how you have been wronged
Posted by: dizz | November 4, 2008 3:39 PM
When this article originally ran there was a quote that said “I’d rather give it to charity than to him” this quote was conspicuously absent when I went back to share the article with a friend. After contacting the articles writer I was informed that without her knowledge the editors determined that that portion of the quote was too “inflammatory” and “controversial” this close to the election.
Mr. and Mrs. Huizenga have shown a commitment to giving back to our community for decades and to suggest otherwise is absurd. The cultural contribution with the museums and theaters, the educational foundations including the business school at Nova Southeastern University and Mrs. Huizenga’s commitment to the Humane Society are just a small sample of their role in our community.
When Wayne Huizenga says he would rather give it to charity, I believe him.
I know there are many who welcome the Obama class warfare and it is in style to blame the “have’s” for the lot of the “have not’s” but all Wayne Huizenga has done for South Florida is create jobs, wealth and the sense of community and commonality that we enjoy through our shared love for the Dolphins, Marlins or Panthers. He has brought business; industry and opportunity to THOUSANDS of South Floridian’s and the charitable work done by Mr. and Mrs. Huizenga and carried on by their families have made a profound impact on the community at large.
The capital gains tax would mean millions of dollars from the sale to the Federal Government and out of our community. Who do you think will do more good for South Florida with that money, Mr. Huizenga or Mr. Obama?
Michael Katz
Posted by: Michael Katz | October 29, 2008 3:32 PM
Comparing Obama and Reagan's Capital gains taxes and then calling Reagan a socialist is naïve and just plain stupid. To get the tax reform in 1986, Reagan had to COMPROMISE with those who thought high taxation and government was the key (similar to Obama). Reagan’s compromise: have a capital gains tax at 20% in exchange for an income tax that is WAY lower than any Obama proposes. And let’s be honest, to the average middle class worker, the income tax percentage is considerably more important than the capital gains tax. So way to go Reagan!
Moreover, a president’s tax rates do not make him a socialist. Rather, what the president chooses to do with that tax income is what makes him a socialist. Taxing the wealthy to give to the poor is the very definition of socialism. If the democrats don’t like that label, they shouldn’t vote for Obama.
Posted by: BobTaxGuy | October 28, 2008 11:36 PM
Funny, the idiots defending Huizenga as a great conservative and anti-socialist must have forgotten that Huizenga is fine with corporate welfare when he was crying to a have a taxpayer financed studium for 100s of millions. These people who talk about Obama being socialist must have forgotten the last 8 years of corporate welfare and bailouts. Republicans are the biggest socialists ever; actually they are more like the Russians communists (who really weren't anywhere near true communists) Rupublicans prefer a super rich class that owns everything and peasants that have nothing; pretty much what the republicans want.
Posted by: harden | October 28, 2008 7:50 PM
Wayne Huizenga is Corporate scum! He made his money by founding a garbadge company. I agree with the redistrbute of wealth! If you tax rich you will not lose any jobs. I hate wayne for how he has dismantled all south florida sports teams. Capitalism is a corrupt now, I'm all about Socialism vote obama Next tuesday!! GO Dolphins!!!
Posted by: Dolfan13 | October 28, 2008 6:42 PM
I can't believe how freaking ignorant people are these days. How damn stupid are you? If you overtax the businesses, they will simply pass it on to employees in lack of pay raises/job cuts and customers. duh... and that doesn't mean they are the bad guy. They are there to serve a purpose and their survival and our survival are tied to each other.
Posted by: Eric | October 28, 2008 1:51 PM
raise my taxes and i will cut your job, period. this country will become a third world nation and will look like south chicago with 18% unemployment. just the way obama left it. russia will be the world power and france will come in second-
Posted by: nick claims corp | October 28, 2008 1:31 PM
raise my taxes and i will cut your job, period. this country will become a third world nation and will look like south chicago with 18% unemployment. just the way obama left it. russia will be the world power and france will come in second-
Posted by: nick claims corp | October 28, 2008 1:31 PM
raise my taxes and i will cut your job, period. this country will become a third world nation and will look like south chicago with 18% unemployment. just the way obama left it. russia will be the world power and france will come in second-
Posted by: nick claims corp | October 28, 2008 1:31 PM
This article is about Wayne Huizenga not the generalization of families/individuals who earn more than $250k/$200k. Stop the diversion rebuttal.
Wayne may be a shrewd businessman, but very few accomplish that level of success being a push-over.
Why punish individuals who have worked hard and redistribute to individuals who haven’t?
This "newspaper" is high school journalism at best.
Posted by: Jason | October 28, 2008 1:25 PM
So that means Ronald Reagan was a socialist, right?
After all, Obama's proposed 20% capital gains rate is the same as it was under Reagan.
LOL.
As for Huizenga, that's some fuzzy math there for such a smart guy. He says going from 15% to 20% capital gains is "doubling it" or "almost doubling it". Not even close.
Posted by: Bill | October 28, 2008 9:22 AM
Wow Sarah Talalay, way to come to the quick aid of Obama, and try to make it seem less than it is. There should be no reason why anyone should raise the capital gains tax. People are so naive and
dont understand the tax system and how it correlates to the economy. Sure, lets just "tax the hell out of the "rich" people". Do you not realize all of the sole proprietorships that will be hurt under Obama's tax plan, and how jobs will be lost?
Posted by: erik | October 28, 2008 8:47 AM
Scare tactics, Republicans can only hope fear factor politics will work. Poor Billionaire doesn't want to pay the government any money that it could spend on helping less fortunate people from tax gains.
Posted by: eric | October 28, 2008 4:42 AM
You guys do realize that by obama taxing the wealthier business owners like huizenga that they are more willing to cut/slash jobs because they can't afford to pay everyone. This means that the middle class(you) get less jobs and have more struggles financially. I don't understand why everyone loves obama. He stands for nothing that this country was founded on. Anytime you take more control and decisions away from the people and give it to the government, that is a bad thing. Why do you think countries such as India, etc. have such a horrible economy? It's because the government has too much control of everything. What happened to life, liberty, and the pursuit of happiness? What happened to the foundation this country was built on-namely being able to go into business for yourself? Why should we punish the people that went out and worked their butt off to get what they have right now? Why should we give that money to the people too lazy to get off the couch and go make something of their lives instead of just waiting to get a handout? People are making their decision to vote on emotions, which is the wrong way to do it. Just because a candidate talks smoother, dresses better, etc. doesn't mean that he has good character. Do some research on what Obama really stands for and you will find that he stands for absolutely nothing that this country was founded on. Electing him to office will be the worst mistake that we can make as US citizens. Check out www.neverfindout.org if you want to hear the truth.
Posted by: Scott | October 28, 2008 2:47 AM
This is exactly why I want Obama. I don't feel sorry about billionaires losing a few mill, I rather have them paying taxes than the poor and middle class while the rich get huge tax breaks like Bush and McCain want.
Posted by: Dave2183 | October 28, 2008 12:43 AM
i agree
obamism is like socialism but worse
at least socialist say they are socialist
obama is a duck that looks like a duck and sounds like a duck but swears hes not a duck
Posted by: rogperu | October 27, 2008 11:29 PM
"The American people will never knowingly adopt Socialism. But under the name of 'liberalism' they will adopt every fragment of the Socialist program, until one day America will be a Socialist nation, without knowing how it happened."
http://texasswimming.blogspot.com/2008/10/what-do-these-men-have-in-common.html
Posted by: button | October 27, 2008 11:14 PM