Steve Wynn Cashes Out Ahead of the Cliff

You’ve got to hand it to the man, he certainly puts his money where his mouth is…

Take Steve Wynn, the casino magnate, who has been a vocal critic of higher tax rates. He and his fellow shareholders in Wynn Resorts, the company announced, will collect a special dividend of $750 million on Tuesday, a payout timed to take advantage of current rates. Experts estimated that taking the payout this year instead of next could save Mr. Wynn, who owns a sizable stake in the company, more than $20 million.

For the wealthy like Mr. Wynn, the overriding goal is to record as much of their future income this year as they can. This includes moves as diverse as sales of businesses, one-time dividends and the sale of stocks that have been big winners.

Read about more investors racing against the clock to transfer, sell, move whatever – anything to save themselves from the impending Kenyan-style Hawaiian Muslim Quadrennial of Socialism!

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Investors Rush to Beat Threat of Higher Taxes (NYT)