OT Paul Allen's Space Program being shut down by Vulcan and sold off

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If we ever wondered where over the cap tax money could come from...they're selling some really expensive toys.
 
I know we have at least a couple of financial types posting here, so compared to them I'm prbably talking out of my ass...which is the source for a lot of my opinion by the way...

but I wouldn't read much into this move. Even with all kinds of trust protection, Jody Allen likely has a huge estate tax bill to pay and selling off assets is about the only way she has to come up with that kind of cash. She has probably already decided what her core holdings are. Maybe the Blazers are core or maybe they are on the edge. I'd anticipate we'll hear about more assets being sold
 
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My gut says this is good news for Blazer fans. Jody makes more on interest by the nanosecond than she could spend I'm sure. Paul set her up forever and beyond. She flew the big plane in Paul's memory, then put Stratolaunch on the market. She probably didn't grow up wanting to be an astronaut like Paul did. I like Paul's choice of "Stratolaunch" as he was known to play Stratocaster fender guitars.
 
Makes some sense, Stratolaunch is a pretty big gamble, and a huge money sink until it could get commercial launches. If you didn't have an owner familiar with all aspects of the business, it seems like it would be hard to know when you are throwing good money after bad, or making a reasonable long term bet. This way assets and technology get into the hands of those who are most likely to do something with it.
 
I'm of the opinion that this means nothing for the Blazers.

Paul was passionate about space. If Jody isn't, why keep pouring money into it?
 
Mediocre Man said:
I'm of the opinion that this means nothing for the Blazers.

Paul was passionate about space. If Jody isn't, why keep pouring money into it?
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I agree with you there. I was reading the comments on that link and it's pretty much done. They did the initial "Flight for Paul" and then they really don't have any more need?
 
Very sad... I wish she would've continued his legacy...
 
wizenheimer said:
I know we have at least a couple of financial types posting here, so compared to them I'm prbably talking out of my ass...which is the source for a lot of my opinion by the way...

but I wouldn't read much into this move. Even with all kinds of trust protection, Jody Allen likely has a huge estate tax bill to pay and selling off assets is about the only way she has to come up with that kind of cash. She has probably already decided what her core holdings are. Maybe the Blazers are core or maybe they are on the edge. I'd anticipate we'll hear about more assets being sold
Click to expand...

The most barbaric tax law is the death tax law. People think that it gets the billionaires and it is a good thing when it reality for every billionaire it taxes at the time of their death it destroys 50 to 60 Farmers and Ranchers and their families at the time of their deaths. The IRS comes in and taxes the land at commercial rate and the equipment as new and the family has to sell the farm to pay the tax bill which is always more than what they can get for the farm itself. Bush junior got rid of it but Obama brought it back when George Steinbrenner died and left all his billions to one person and all the politicians about committed suicide because they could not get any of that money that was already taxed once. It forces small business's to sell out quickly to huge corporations. Sorry I am not in favor of the double death tax that money has already been taxed once it should not be taxed again I do not care how rich you are.
 
borim69 said:
The most barbaric tax law is the death tax law. People think that it gets the billionaires and it is a good thing when it reality for every billionaire it taxes at the time of their death it destroys 50 to 60 Farmers and Ranchers and their families at the time of their deaths. The IRS comes in and taxes the land at commercial rate and the equipment as new and the family has to sell the farm to pay the tax bill which is always more than what they can get for the farm itself. Bush junior got rid of it but Obama brought it back when George Steinbrenner died and left all his billions to one person and all the politicians about committed suicide because they could not get any of that money that was already taxed once. It forces small business's to sell out quickly to huge corporations. Sorry I am not in favor of the double death tax that money has already been taxed once it should not be taxed again I do not care how rich you are.
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This is OT so i will respond in a way that will be as un-political as possible.
Your statement about Bush Junior and Obama is timing correct but taxes are imposed by congress. Not the President. The modern estate tax was temporarily phased out and repealed by tax legislation in 2001. This legislation gradually dropped the rates until they were eliminated in 2010. However, the law did not make these changes permanent and the estate tax returned in 2011. But late in 2010, before that clause took effect, Congress passed superseding legislation that imposed a 35 percent tax in 2011 and 2012 on estate in excess of $5 million. Like the 2001 legislation, the 2010 legislation had a sunset clause so that in 2013 the estate tax would return to its 2001 level. But then on New Year's Day 2013, Congress made permanent an estate tax on estates in excess of $5 million at a rate of 40 percent. Since that point Congress has been under the control of Republicans and for much of that time they have controlled both houses.
I agree that the "Death Tax" is wrong but i disagree with putting the blame of the effect on the President. Bush Jr did very little to help anyone's taxes though he did send everyone a check. Obama did very little to hurt anyone's taxes but he didn't really try to help them either. Trump has allowed congress to rape us but that is another story.
 
borim69 said:
The most barbaric tax law is the death tax law. People think that it gets the billionaires and it is a good thing when it reality for every billionaire it taxes at the time of their death it destroys 50 to 60 Farmers and Ranchers and their families at the time of their deaths. The IRS comes in and taxes the land at commercial rate and the equipment as new and the family has to sell the farm to pay the tax bill which is always more than what they can get for the farm itself. Bush junior got rid of it but Obama brought it back when George Steinbrenner died and left all his billions to one person and all the politicians about committed suicide because they could not get any of that money that was already taxed once. It forces small business's to sell out quickly to huge corporations. Sorry I am not in favor of the double death tax that money has already been taxed once it should not be taxed again I do not care how rich you are.
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Lol yeah no. Only conservatives respond to it this way and This is not the subject of the thread.
 
kjironman1 said:
This is OT so i will respond in a way that will be as un-political as possible.
Your statement about Bush Junior and Obama is timing correct but taxes are imposed by congress. Not the President. The modern estate tax was temporarily phased out and repealed by tax legislation in 2001. This legislation gradually dropped the rates until they were eliminated in 2010. However, the law did not make these changes permanent and the estate tax returned in 2011. But late in 2010, before that clause took effect, Congress passed superseding legislation that imposed a 35 percent tax in 2011 and 2012 on estate in excess of $5 million. Like the 2001 legislation, the 2010 legislation had a sunset clause so that in 2013 the estate tax would return to its 2001 level. But then on New Year's Day 2013, Congress made permanent an estate tax on estates in excess of $5 million at a rate of 40 percent. Since that point Congress has been under the control of Republicans and for much of that time they have controlled both houses.
I agree that the "Death Tax" is wrong but i disagree with putting the blame of the effect on the President. Bush Jr did very little to help anyone's taxes though he did send everyone a check. Obama did very little to hurt anyone's taxes but he didn't really try to help them either. Trump has allowed congress to rape us but that is another story.
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Where did you find boreim69's post?
To respond to his post - the so called death tax only hits the very wealthiest. You can pass on quite a bit without being asked to pay any tax at all. You've got to pass on more than $5.3 Million per individual recipient before any inheritance tax at all is levied.
About 99.9% of estates is passed on with no tax.
 
Lanny said:
Not likely. That would be an insult to Paul's memory. Some other owner, however, might be a bad deal for us.
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You're guessing on Jody. We don't know. Also, if you think she's great, what makes you think she'd sell it to an A hole
 
Mediocre Man said:
You're guessing on Jody. We don't know. Also, if you think she's great, what makes you think she'd sell it to an A hole
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I think I noted that I was making an educated guess when I spoke of Paul's memory.
Also, I never said she was great. I just said that it was likely that she would honor his memory. This in no way is any kind of iron clad guarantee, just a guess.
 
I imagine everything Paul wanted Jody to preserve was part of his will. I expect the team to be in Portland longer than I'll live to see. Go Blazers! You can't find fanbases like ours ...it's special.
 
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