Obama Already Changing the Economy

Look for a lot more of this kind of activity, especially if Obama wins, as people with significant income try to find ways to take advantage of the current tax rates before Obama's "spread the wealth" plan kicks in:

MIAMI GARDENS — By the end of the year, an NFL source said Sunday, Dolphins co-owner Wayne Huizenga would like to sell all but a small percentage of the team to real estate mogul Stephen M. Ross, who already owns the club and stadium 50-50 with Huizenga.

But Ross might not have the funds available to make the deal, the source said.

Huizenga wants to sell Ross another 45 percent of the team by Dec. 30, the source told The Palm Beach Post. Huizenga is believed to be motivated by his belief that Barack Obama will win the presidency and help implement tax policies that would take a bigger chunk of Huizenga's revenues from a sale.

The tax rates as they exist today are probably the lowest rates we'll ever see in the foreseeable future. The out-of-control federal budget, loaded with ever-growing entitlement programs, and the prevailing attitude among politicians from both parties that the wealthy have earned their money simply to fund government largesse, can only mean higher rates for everybody, but especially those that Democrats consider "rich".

However, rich people didn't get that way by being stupid and they'll make whatever moves they need to do to shelter income and assets from the tax man. Unfortunately, most of us in the middle class won't have those avenues available to us. We'll just have to pay.