Posted on 08/15/2016 12:30:42 PM PDT by Kaslin
If it exists, the Dems will tax it.
And you can quote me on that.
4 years training????? LOL! You're clueless louis, you have no idea of what you're talking about!
Try a lifetime of training since they first took up the sport at what, 5, 7, 8, 10 years of age?
Then add to that the cost of coaches, travel and hotel expenses for meets over all those years before they even made the Olympic team.
And where is your "Schedule C" for those who didn't medal but yet put out hundreds of thousands of dollars in expenses for the above that never made gold?
Can you say the same for the winners of Table Tennis, Archery or the other "non events" that NBC showed little of?
Why should Olympic atheletes be treated differently?
Because THEY weren't compensated for a lifetime of training to get there nor were they guaranteed an income once they arrived............
Nice try..........
Lots of tax lovers on this thread.
How about we reduce the tax on atheletes, and also reduce the taxes on everyone else?
“Because THEY weren’t compensated for a lifetime of training to get there nor were they guaranteed an income once they arrived............”
Nonsense.
I was not compensated for a lifetime of education (training) that was required prior to being hired to for the job that sent me to Brazil.
And once I earned my diplomas, I was not guaranteed a job.
What makes their training and their work different than mine?
If I could I would. I was addressing a comment about Phelps.
I pay 43% on short term Cap gains...to the Feds and to the state.
Although I can give gifts of $14k to people..that cannot be taxed...
But these gold medals are not gifts.....
BTW...the short term gains tax...is total confiscatory..as they risk nothing..fwiw
At the start of the Olympics we were told that we were all equal in that speech also about global warming from the Brazilian.
guess I must be as equal to Usain Bolt.
for the most part, these athletes have sponsors and many have advertising and marketing contracts that will pay them handsomely..
and then we have the professional players already being paid millions...
so a prize package is greatly inflated...
but, they'll send you a W2 claiming the inflated price and you pay taxes on that....
so no, I do not feel bad for these athletes....happy problem to have..
Rio Olympic replica medals on ebay. Take your pick which one you want or get a complete set for from what I can tell under $90 US.
That whole "amateur status" thing ended when they let in the NBA players.
It was a recognition that a lot of countries had been letting non-amateurs compete for years.
Sorry my mistake gold silver bronze set for $69.99 plus shipping. :)
“Good grief! What’s Phelps gonna owe?”
The amount is probably an incidental pre-paid in his Wheaties contract.
Who pays them the cash?
Years ago I worked in Florida for a company based in Nassau. They did not withhold federal taxes. I kept my mouth shut.
Everyone who won a medal gets millions in endorsements? Ha ha ha
Phelps has a net worth of between $50 million and $60 million. I don't think he's sweating the Rio tax bill.
I would expect better from Freepers but these days, I guess not.
“I would expect better from Freepers but these days, I guess not.”
No offense was intended. But if you read how many condoms they supply to the Olympic athletes every 4 years, well, you know they’re not exactly chaste.
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