WH: Don't tax Olympians on medals

The Hill ^ | 02/13/2014 | Justin Sink

[Rusty0604]

The White House said Thursday that President Obama still believes American Olympians shouldn’t have to pay income taxes on the medals they win.

But a bill by Sen. Marco Rubio (R-Fla.) never moved in the Senate. Three Republican lawmakers — Reps. Blake Farenthold (R-Texas), Walter Jones (R-N.C.) and Pete Sessions (R-Texas) — proposed a bill similar to Rubio's before this year's games, but it has also failed to gain traction.

[Paladin2]

"Why should they have to pay taxes on the medal?"

Like many others, they are successful and deserve to have "their" government punish them.

Where have you been for the last five years??

[jch10]

This IS the face of America, I am sad to say. The clean-cut sharp looking American is no more.....or very rare anyway.

[Paladin2]

"Justin Sink "?

Is that Clintoon's moniker like "Carlos Danger"?

[Rodamala]

Obama has a pen. He has a phone. Why doesn’t he just handle this?

If he does without a bill, that's it... I am not going to show income on my 2013 1040 for dividends or capital gains...

[Leaning Right]

I'm sick of the tax code being used to pick and choose favorites. That is truly absurd.

Bingo! Either tax all awards, or tax none of them. Suppose my employer loves my work so much that he gives me a $20,000 painting. If I have to pay a tax, so should the Olympians.

[alternatives?]

Of all the athletes, the gold metal winners are the 1%. Is not that how Obama classifies people? Also, they did not earn the metals on there own. Without public facilities, roads, and teachers they would not be where they were today. Why are they putting them on pedestals? Is not this the Obama view? Finally, would it be more equal if the gold metals were actually brass? The savings could be used to buy all the other athletes copper metals. There is too large of gap in metals between athletes. Who does that sound like? In my mind the Olympics represent are very teachable moment for conservatives to point out the liberals view of the world.

[SoFloFreeper]

Pass a no tax on medals law coupled with an amendment that repeals Obamacare.

[CommerceComet]

If I read the piece right, the athletes are paying taxes on the cash prizes that come with the medals, not the medals themselves. It wouldn't bother me if this income got exempted for Olympians but it doesn't bother me one bit that they have to pay income taxes on this prize money just like anyone else who wins some lesser award.

Didn't Obama have to pay income taxes on the cash award associated with the Noble Prize that he didn't earn? At least, Obama could argue that it was a gift and that he had done nothing to earn it so it couldn't be recognized as compensation.

[Cheerio]

OBAMA'S WORLD

[SunkenCiv]

> a bill by Sen. Marco Rubio (R-Fla.) never moved in the Senate. Three Republican lawmakers — Reps. Blake Farenthold (R-Texas), Walter Jones (R-N.C.) and Pete Sessions (R-Texas) — proposed a bill similar to Rubio’s before this year’s games, but it has also failed to gain traction.

Thanks Rusty0604.

[DPMD]

Instead of taxing the medals, tax the athletes on the transportation, room and board, and health care given them free of charge while on Team USA. That’ll help pay for not taxing the medals. And audit anyone who tries to reduce their tax exposure.

sarc

[COBOL2Java]

I can’t believe this, but I actually agree with the President on this. Why should they have to pay taxes on the medal? That is absurd.

I think you're missing the point. Is it the President's job to legislate? Where in the Constitution does it say he can change laws (notwithstanding what the other two branches are letting him get away with)?