The Dodgeball Refugee Brigade pounces.
nc4bo (10,186 posts)
Fla. Sen. Rubio introduces bill to make Olympic prizes tax-exempt.
In the comments section, teabags abound.
http://www.cbsnews.com/8301-201_162-57484774/fla-sen-rubio-introduces-bill-to-make-olympic-prizes-tax-exempt/
The U.S. Olympic Committee, a non-profit based in Colorado Springs, awards $25,000 to gold medal award winners, $15,000 to silver medalists and $10,000 who earn bronze in a program they call Operation Gold.
The 35-percent tax rate applies to both the prize money and the raw value of the medal itself. Americans for Tax reform calculates that according to today's commodity prices, the value of a gold medal is about $675, silver is worth $385 and a bronze medal is worth under $5.
That means that the U.S. women's gymnastics team, for example, will be paying back a $8,986 tax on the $25,000 they get on each of their gold medals. So would swimmers Conor Dwyer, Michael Phelps, Ryan Lochte, Ricky Berens for winning the 4x200m freestyle relay final. Silver medalists have a $5,385 tax burden; athletes on the third tier of the stage will be coughing back $350.
at who is behind it.
Scuba (18,686 posts)
1. Freedom isn't free, asshole, pay your taxes.
Apparently 47% of Americans don't deserve their freedoms.
nc4bo (10,186 posts)
3. Here's what I was thinking, didn't include it in the OP
If these kids don't go any further than this win - I'm sure they'll fall in the under $250k category. Any taxes they pay will come back to them.
If these kids go further with endorsements, etc. over @250k - they won't give a damn.
Is my thinking off?
So this thing is telling us that anyone making less than $250,000/year will get something from the government?
Happyhippychick (4,961 posts)
2. Is there a reason the athletes shouldn't have to pay taxes like the rest of us???
Excuse my lack of sympathy but these athletes have the opportunity for huge sponsorship deals and I'm supposed to feel badly that they owe their fair share? Ridiculous!
Scuba (18,686 posts)
4. Of course not. This is simply more of the right-wing meme that taxes are an evil punishment ...
... of success. It's a load of crap.
Spoken like someone who will never be threatened with success.
magical thyme (1,711 posts)
6. But if the have to pay taxes on the awards, won't that cause them to give up
and stay home? Or maybe only go for bronze instead of gold, because the bronze tax is so much lower?
On the other hand, I had no idea there were cash prizes offered for winning medals. In that case, that does it...I'm back in the saddle and after my Olympic dream! Obviously the cash at the end is the incentive I needed to stay on that dream. Woooo!Hoooo! Olympics, here I come!!!!!
No.
Because athleticism requires effort and competition; 2 things liberals are allergic to.
Firebrand Gary (2,693 posts)
8. He will regret this...Olympians DO NOT LIKE being politicized.
Similar to the military in that respect, they know that their achievements are being used for political gain, in addition, these athletes are wearing the red, white and blue. They are representing our country, especially in a time where we need everyone to pitch in. Everyone. How do we justify free taxes for Olympians, who hold the flag, while we can't get proper care to our nations wounded.
Where to begin on THAT one...
ananda (9,899 posts)
10. Scream!
I just hate the tea party agenda so prevalent in the media these days!
Reallyreallyreally HATE IT!
****ing 1st Amendment!!!
nc4bo (10,186 posts)
15. Ananda.
I did the same thing when I heard the story this morning. Double screams because M$M has been desperately trying to give it legs.
I'm just exasperated with the right-wing bullisht.
Yes, but is it true?
WI_DEM (29,129 posts)
11. This is the type of thing that irritates me...
they do this stuff because they think it's popular because, well, they are athletes and then they ignore real problems.
Guess who got beat-up in gym class a lot.
Firebrand Gary (2,693 posts)
12. Let me also add...
This is playing directly into the Presidents hands, so good for Rubio. Its pretty hard to justify free taxes for cash prizes, while working people are being held hostage to tax breaks for the rich.
Does Rubio really want to show how easily Congress can get something done, yet Congress cannot cut taxes for familes making less that 250k.
Bravo Rubio, BRAVO
The gold medal for mental gymnastics goes to FirebrandGary...
...who now owes $9,000 in taxes.
http://www.democraticunderground.com/10021060694
