Scott Smith @JasonSSmith1

Ex-newspaperman / IU grad / Cincinnati Reds / Arsenal / Bengals / Pacers / USN / Indy raised / Establishment Democrat Indianapolis Joined January 2012

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Indiana Daily Student @idsnews

12 hours ago

OPINION: Bloomington should stay IU’s flagship campus. Sorry, Indianapolis idsnews.com/article/2026/0…

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Scott Smith @JasonSSmith1

2 days ago

@TylerMitchellIN Honestly hope you’re getting paid at least for all these dumbass posts.

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Indy Department of Public Works @IndyDPW

3 days ago

⚠️Residents of the Town of Rocky Ripple are advised to evacuate. The 52nd St. flood gate (circled in green) is expected to close at 2 a.m. The 53rd St. gate is being closely monitored; should a closure be necessary, it would likely be in the very early hours of the morning. ⚠️

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Scott Smith @JasonSSmith1

3 days ago

@RedsDaily4 Scott Stapp

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Scott Smith @JasonSSmith1

3 days ago

Every now and then you’re reminded what hypercapitalism looks like. Took some rolled coins to a bank to swap for some bills. They wanted a 10% cut since I didn’t bank there. Thanks @FORUMTalk

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Scott Smith @JasonSSmith1

4 days ago

One of the most amazing places I’ve ever been and there’s a goon on a bulldozer fucking it up.

Laiken Jordahl @LaikenJordahl

4 days ago

BREAKING: DHS IS BULLDOZING THE MOUTH OF SANTA ELENA CANYON. DHS waived every single environmental law, now they’re butchering the most iconic part of Texas’ crown jewel national park. All happening the day after a massive protest right here and on the morning CNN left. This is

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Scott Smith @JasonSSmith1

4 days ago

Holy shit reddit.com/r/Indiana/s/Hd…

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Joe Pompliano @JoePompliano

5 days ago

I've been getting a lot of questions about how billionaires use sports teams to save hundreds of millions of dollars on taxes, so let me explain. Let's use the Lakers as an example. When the transaction closes, Josh Kushner and Bob Iger will start by allocating 90% or more of the purchase price ($12.5 billion) to intangible assets. Kushner and Iger will then amortize these assets over 15 years under Section 197 of the tax code, allowing them to deduct the amortization against team income. But since these deals are typically structured as pass-throughs, the excess losses don't just vanish. Kushner and Iger can use those losses to shield hundreds of millions of dollars in outside personal income, such as capital gains from VC investments, from being taxed. This is what allowed Steve Ballmer to pay $78 million in taxes on $656 million in income in the year he purchased the Clippers for $2 billion. That's 12%. The tax code has been this way for decades, but what makes sports teams unique is that they are not typical businesses. While no one would argue that it is unfair for a regular business to reduce its taxable income as the value of its machinery, vehicles, and computers erode, most of the assets of a sports franchise regenerate automatically. In other words, player contracts can be amortized even though teams just sign new players when old players leave. TV deals can also be amortized even though leagues just negotiate more lucrative deals when their current ones expire. The tax code even allows for franchise and league membership rights to be amortized even though those rights technically never expire. President Trump's One Big Beautiful Bill actually included a provision that would have reduced the amortization deduction to 50% of the purchase price for new acquisitions. But after NFL owners like Robert Kraft, Jimmy Haslam, and Rob Walton lobbied against it, the provision was removed at the last minute. This proposed change would have only impacted new team sales, but current owners care about it because if the existing amortization advantage goes away or gets diminished, it would negatively impact valuations. Think about it this way: If the amortization deduction drops from 90% to 50%, that would cost potential buyers hundreds of millions in tax savings. So to make up for the difference, team valuations would have to fall. This is also why the Lakers sale is so shocking. Walter is giving up billions in potential tax savings over 15 years for a 20% capital gain over two years. That wouldn't make sense...unless Walter is actually being forced to sell to cover the very loans the federal government is currently investigating him for. P.S. Today's newsletter breaks down everything you need to know about the Mark Walter investigation: why the DOJ seized his phone and laptop, how it triggered a fire sale of the Lakers, and whether the Dodgers, Chelsea, or the Cadillac Formula 1 team will be next. I spent the last 24 hours digging into all the details, and I think this is probably one of our best newsletters ever. READ: huddleup.substack.com/p/did-the-sec-…

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Scott Smith @JasonSSmith1

4 days ago

@awfulannouncing Dude has been an absolute lapdog for the Bears owners.

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Scott Smith @JasonSSmith1

4 days ago

@Chicago_NFL Why is it so incredibly important to you that Hammond taxpayers get screwed just as badly as Indianapolis taxpayers got screwed with the Colts? Probably $3K out of my pocket since Lucas Oil was built to line the Irsays pockets, and that debt is never getting paid off.

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Scott Smith @JasonSSmith1

4 days ago

@JesseForIndy @AttyAbdul probably realizes you’re working on behalf of Andrea Hunley Jesse

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Scott Smith @JasonSSmith1

6 days ago

@AttyAbdul To my point about billionaires trying to hide their own activity, in this case, shell companies:

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Scott Smith @JasonSSmith1

6 days ago

@AttyAbdul It’s a private company, collecting data on your movement which they then can sell to whoever wants to pay for it. Funny that the billionaires hide their own movement while selling information on yours.

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Scott Smith @JasonSSmith1

6 days ago

I love Hank Marvin and The Shadows with all my heart. open.spotify.com/track/2YgLhmAk…

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Scott Smith @JasonSSmith1

a week ago

@RobMKendall Serves you right 😂

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Scott Smith @JasonSSmith1

a week ago

@WillLewis_1976 Been saying that for years but the powers that be on Reds twitter don’t want to hear it.

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Scott Smith @JasonSSmith1

a week ago

@RobMKendall @JesseForIndy Guy who was begging Brownsburg not to increase his taxes is now interested in helping us Indy residents get our taxes increased.