As discussed yesterday on Ricochet, Al Gore will make a handsome sum by selling his flagging cable network, Current TV, to Al Jazeera. According to The New York Times, however, the former vice president may have suffered, at least, one disappointment in the deal.
Mr. Gore and his partners were eager to complete the deal by Dec. 31, lest it be subject to higher tax rates that took effect on Jan. 1, according to several people who insisted on anonymity because they were not authorized to speak publicly. But the deal was not signed until Wednesday.
No one should fault Gore for trying to take advantage of lower rates. In fact, we should thank him for this reminder: Apparently tax rates do influence business decisions.