View Full Version : You owe the federal government 9K!
tangent4ronpaul
08-05-2012, 04:40 AM
If you won a gold medal for our country as an Olympic athlete.
Ain't it great how our country "rewards" those that represent it?
We have one athlete, swimmer, I believe, that will owe 40K in taxes for her medals.
DISGUSTING!
-t
kathy88
08-05-2012, 07:52 AM
Source?
pcgame
08-05-2012, 07:57 AM
.........
tangent4ronpaul
08-05-2012, 08:02 AM
Source?
Fox in the Morning...
Olympic athletes get prize money in addition to their medals. The medal itself is worth very little. The prize money is a lot and yes they have to pay taxes on it.
Ideally, no one will have to pay taxes at all.
Also, if Olympic athletes did not pay taxes, they would be getting special privileges that the rest of us do not get.
For a gold - they get 25K. 9K taxes = 18K medal... or there abouts...
-t
kathy88
08-05-2012, 08:05 AM
So they are being taxed on earned income? I get taxed on my earned income. Should athletes be exempt because of a special skill? Im the last one to advocate for income taxes but that's all this is it seems. I make my running a small business, they make theirs as athletes. Should major league baseball players be exempt?
tangent4ronpaul
08-05-2012, 08:23 AM
They are representing our country...
-t
tangent4ronpaul
08-05-2012, 09:34 AM
And your point?
You are seriously asking me this??? WTF???
-t
nobody's_hero
08-05-2012, 09:45 AM
poor michael phelps, then
Zippyjuan
08-05-2012, 11:57 AM
More info on the story: A gold medal winner can receive a bonus from the US Olympic Committee of $25,000 and that is considered taxable. http://www.snopes.com/politics/taxes/olympics.asp $15k for silver and $10k for bronze.
pauljmccain
08-05-2012, 01:14 PM
Why is everyone freaking out about this? It's just normal taxes on the prize money they get. Seems everyone thinks that they are being forced to pay 9000 out of pocket. Talk about misinformation.
If you won a gold medal for our country as an Olympic athlete.
Ain't it great how our country "rewards" those that represent it?
We have one athlete, swimmer, I believe, that will owe 40K in taxes for her medals.
DISGUSTING!
-t
No more disgusting than any other income taxes. I offer a service to my area and I get "rewarded" with income taxes too.
Nickels
08-05-2012, 01:37 PM
So they are being taxed on earned income? I get taxed on my earned income. Should athletes be exempt because of a special skill? Im the last one to advocate for income taxes but that's all this is it seems. I make my running a small business, they make theirs as athletes. Should major league baseball players be exempt?
seriously. people react to this like it's some special tax on them. maybe it is, but it's a price you pay for the career you choose.
pcosmar
08-05-2012, 01:47 PM
but it's a price you pay for the career you choose.
Why?
canipayinPENNIES?
seriously, they can ALL f off
heavenlyboy34
08-05-2012, 01:52 PM
They are representing our country...
-t
Everyone represents their country(men)[I don't like to use the word "country" as loosely as you do]. Some just get more credit than others. The miners in Bisbee represent their occupation to the world, for example. Nationalism=mindlessness.
heavenlyboy34
08-05-2012, 01:53 PM
Why?
How dare you question the State, mundane? ;)
Nickels
08-05-2012, 01:53 PM
Why?
because nobody is forcing you to choose the career you are in?
MelissaWV
08-05-2012, 02:33 PM
Why?
I think his point is that, if we're to have income taxes at all (and we currently do), then if you are in a "career" where you could possibly earn, say, 20 gold medals and the bonus money that goes with them... you should probably not be shocked when you are taxed on that income. I am thinking that having gold medals, the money that doesn't go to taxes, and the huge endorsement deals, makes it much easier to give up that tax money than it is for most of us average folks.
:(
Nickels
08-05-2012, 02:35 PM
I think his point is that, if we're to have income taxes at all (and we currently do), then if you are in a "career" where you could possibly earn, say, 20 gold medals and the bonus money that goes with them... you should probably not be shocked when you are taxed on that income. I am thinking that having gold medals, the money that doesn't go to taxes, and the huge endorsement deals, makes it much easier to give up that tax money than it is for most of us average folks.
:(
yes, basically. I wasn't defending taxation, just saying that if it were any different (such as exemptions) people here would complain that they get an unfair advantage. So you never seem to please everybody, even within the allegedly unified anti-tax movement.
pcosmar
08-05-2012, 02:40 PM
because nobody is forcing you to choose the career you are in?
So regardless of any career choices,,they are still going to take from me.. to be used in ways I do not approve.
I am left with the only other choice,, NO INCOME.
that makes it so much more clear.
It is what it is however if Micheal Phelps decides to live in Thailand for awhile. He will still be liable for taxes in the us.
How many other countries tax it's citizens who don't live there? There will be a quiz afterwards.
Nickels
08-05-2012, 02:44 PM
So regardless of any career choices,,they are still going to take from me.. to be used in ways I do not approve.
I am left with the only other choice,, NO INCOME.
that makes it so much more clear.
actually what I said was, if it was a special tax on athletes, it's what they pay for career choices, if its not a special tax on them, then it's just being fair. You are not an athlete, so you haven't, as far as I know, paid a special tax on your choice, most likely you are taxed the same way the rest of us are.
Nickels
08-05-2012, 02:47 PM
It is what it is however if Micheal Phelps decides to live in Thailand for awhile. He will still be liable for taxes in the us.
How many other countries tax it's citizens who don't live there? There will be a quiz afterwards.
yes, but there's something like a $40,000 tax free allowance if I remembered it right. This is to ensure people who intend to return to US, or spend their cash in the US, do not abuse judicial arbitrage. If you intend to leave the US and never come back, you are free to denounce your citizenship.
The Olympics is a private organization, so technically olympians have a private salary which can be taxed as income tax.
Also technically we all owe the government 180K: http://www.usdebtclock.org/
yes, but there's something like a $40,000 tax free allowance if I remembered it right. This is to ensure people who intend to return to US, or spend their cash in the US, do not abuse judicial arbitrage. If you intend to leave the US and never come back, you are free to denounce your citizenship.
It's 60K. Whoopdeedoo and you still better file or else it's criminal.
Far as denouncing, lol really? You have been asleep when clinton proposed it, bush signed it and now it's also known as the "ex-patriat" tax? Ever been to a us foreign embassy overseas ? Most of them are like armed camps. Can be a bit intimidating if you've decided to go play with your marbles elsewhere. How many citizens of other countries are met with the options you lay out? Why should anyone be forced into that type of decision? How many other countries do such a thing?
How many other countries tax there subjects, er citizens who are domicled elsewhere? The question remains
Sorry, was your reply sarcasm and I didn't get that?
Carson
08-05-2012, 04:19 PM
So they are being taxed on earned income? I get taxed on my earned income. Should athletes be exempt because of a special skill? Im the last one to advocate for income taxes but that's all this is it seems. I make my running a small business, they make theirs as athletes. Should major league baseball players be exempt?
<rant> I'll tell you who should be taxed on capital gains. The Treasury and their bonds, and the central bank and their fake dollars. It might take some of the burden of the theft off of the rest of us.</rant>
Anyway I saw a thing on television where someone was rattling on about the unfairness of it all and never explain what all it was . I had to fire up the Googleur. This is the article I found that explained what this was all about.
<rant> I hate when they do that. Or when they feed you enough to get you interested and then say more after this commercial break. Often I can find the rest of the story with a Google search and get on with my life.</rant>
Quote;
LONDON -- When Florida Republican Sen. Marco Rubio proposed this week to exclude Olympic medal winners from paying taxes on thousands of dollars in cash bonuses that are attached to their top finishes, the least likely source of opposition was perhaps the elite athletes' lobby.
But Todd Rogers, a 2008 gold medal winner in beach volleyball and a member of the 2012 team, told Rubio: Thanks, but no thanks.
At least for him.
"For me, I make enough that I would say I should get taxed," said Rogers, who along with partner Phil Dalhausser was upset Friday in the round of 16. "I'm not going to say I wouldn't take it, but I'm just looking at it from a realistic perspective. Tell that senator I appreciate it, though."
Snip...
http://www.jacksonsun.com/article/20120804/NEWS/120804007/Olympic-medal-tax-cut-not-every-athlete-?odyssey=tab|topnews|text|FRONTPAGE&nclick_check=1
http://photos.imageevent.com/stokeybob/thebegining/Amnesty%20for%20embezzlers.jpg
Then again, should anyone be taxed?
Nickels
08-05-2012, 04:35 PM
It's 60K. Whoopdeedoo and you still better file or else it's criminal.
Far as denouncing, lol really? You have been asleep when clinton proposed it, bush signed it and now it's also known as the "ex-patriat" tax?
How do they enforce it? Do they get help from the foreign government?
Wasn't that what Eduardo Saverin's denouncement was all about?
Ever been to a us foreign embassy overseas ? Most of them are like armed camps. Can be a bit intimidating if you've decided to go play with your marbles elsewhere. How many citizens of other countries are met with the options you lay out? Why should anyone be forced into that type of decision? How many other countries do such a thing?
do we have more options or less for our ex patriates?
How many other countries tax there subjects, er citizens who are domicled elsewhere? The question remains
Sorry, was your reply sarcasm and I didn't get that?
no sarcasm, I might've gotten my facts wrong though.
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