Triple Crown Drought
06/09/2011 | | Decline in Foals, econ70.com, Elliot's Brief Blog, graphsamdlaughs.net, Horse Racing, Tax Deductions, Tax Laws, Triple Crown
The Triple Crown drought has reached 33 years since Seattle Slew won in ’78 (Secretariat in ’73). Why the dearth? The ’85 tax law changes proved dramatic. Owners no longer could write off racing expenses unless they were involved on a daily basis. This resulted in a huge fall in foal crops. The 25K born last year, less than half the pre-’86 level. Fewer foals means fewer chances of a super horse.