When it became clear that Barack Obama was going to win re-election over Mitt Romney on the promise of raising taxes on the wealthy and upping the capital gains tax rate, he truly achieved something that nobody thought was possible.
He wrested control of the Star Wars franchise away from George Lucas and put it in the hands of younger filmmakers who might actually turn it into something worth watching…
As the law currently stands, the capital gains tax rate will see the largest year-over-year increase in history. Some intelligent investors didn't wait for election results to lock in the low capital gains tax rate.
A good example is Star Wars creator George Lucas, who recently sold his Lucas Films empire to Disney (DIS) for $4.05 billion. Lucas built his empire over many years and is sitting on a very large capital gain. Although Lucas has not publicly stated that tax policies had anything to do with the timing of the sale, there is speculation that it was a large factor.
Now he just needs to have the CIA scrub the films and all records of any reference to midi-chlorians and have Jar Jar Binks sent to the Tatooinean equivalent of Gitmo, and his legacy will be complete.
As a wizened old hunched and hair-thinning mentor would say, "A big fucking deal this is."
Photo by Jim Watson/AFP/Getty Images
Tags: Barack Obama, Corporations, Money, Nerdiness, Star Wars, Taxes