Billionaire Sheldon Adelson may not love Mitt Romney, but he loves the $2 billion tax break he stands to get with a Republican in the White House. That’s why he has willingly put $100 million into the campaign of a man he doesn’t seem to care for.
According to a report issued on Tuesday by the Center For American Progress Action Fund, Adelson could reap this amazing tax windfall over the four years of a new GOP administration. Although not all of Adelson’s financial picture is public, and much of Romney’s tax plan is vague, the Center estimates, from what is known, that the tax benefit would come from the following areas:
- Cutting the top tax rates.
- Keeping the current low rates on dividends (which his companies have to pay)
- Keeping the current low rate on capital gains (meaning larger profits on sale of stocks
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