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De Omnibus Dubitandum - Lux Veritas

Saturday, November 3, 2012

Force For Thee, But Not For Me

by Matt Patterson on November 2, 2012 · 0 comments
So, another one for the “Do As I Say, Not As I Do” file.  On Oct.30, Disney announced its purchase of LucasFilm – one juggernaut swallowing another – for $4.05 billion.  Since George Lucas is the sole proprietor of his film empire, which includes rights to the Star Wars and Indiana Jones franchises, he will pocket 100 percent of the Disney windfall.  Pre-Disney, Forbes magazine estimated Lucas’ net worth at $3.3 billion – now, as CNBC reports, “the deal will bring his net worth to $5.2 billion after taxes.”As Marketwatch notes, Lucas has good reasons, beyond avoiding inheritance taxes, to sell now, before he dies:………. But  a disturbance in the force suggests another reason for the fortuitous timing of the deal – the expected tax hikes coming in 2013:……. In other words, Lucas supports tax-and-spend policies, but he is not above making business decisions to avoid taxes.  Sadly, this doesn’t make him unusual among entertainment industry elites (see U2).  To Read More…..

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