Posted on 01/28/2013 6:55:52 PM PST by Nachum
The mainstream media bullied professional golfer Phil Mickelson into apologizing for criticizing California's high taxes and threatening to leave the state because of California's high income tax rate.
But California's high taxes have been forcing many athletes--including those far from the limelight and who have not made as much money as Mickelson--to leave the state for fiscal reasons.
Tiger Woods said he left California because of high taxes in 1996. According to the Wall Street Journal, Woods' net savings over those 16 years come to about $100 million. Mickelson, meanwhile, earned nearly $60.7 million last year. After Proposition 30, Mickelson will owe California nearly $8 million in taxes.
In contrast, the Journal notes Woods made $56.4 million in 2012. By living in Florida, he gets to keep $7.5 million in taxes he would have paid had he lived in California.
One tax accountant told the publication he received "three calls from concerned athletes" the day California passed Proposition 30 last November. He also said several of his clients play for "teams in California but live elsewhere for tax reasons." Proposition 30 raised taxes on all Californians making more than $250,000. Californians making more than $1 million will have to pay a 13.3% tax rate.
(Excerpt) Read more at breitbart.com ...
The list, Ping
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The marginal rate is stunning there now.
— A 39.6% top federal tax rate, up from 35%, on income above $450,000, thanks to the fiscal cliff deal passed by Congress on New Year’s Day.
— A 12.3% top state tax rate, up from 9.3%, on income above $1 million.
— A 1% state mental health surcharge levied on incomes above $1 million.
— A 3.8% Medicare tax rate, which includes a new 0.9% Medicare surcharge on earnings above $250,000.
Combine that with being rated #1 state for gun control by the Brady bunch and no way any sane person would live there.
‘He also said several of his clients play for “teams in California but live elsewhere for tax reasons.” ‘
These players still have to pay the state income tax in California even if they live elsewhere. If htey made the money in the state, they have to pay the state income tax.
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I got $20 that says Mickelson will move out of the Tarnished State before the end of the year.
If I play a game for the LA Dodgers in AZ against the AZ Diamondbacks, did I earn the $$ in CA? How?
If this is true, and Mickelson caved in, and apologizing for saying he would leave the state because of the high taxes...then Mickelson is as SOB RAT bastard for being such a cowardly idiot. If true, then I hope he loses big time in every tournament he is in from here on out.
I was about to post the same thought. Bullied by the MSM? I cherish the thought of telling them to kiss my grits under any and every circumstance, and my choice of words would not be so genteel.
If they can’t be loyal to another state they should stay where they are. Don’t EVEN think about coming to Texas!
You got that absolutely right! Bullied by the MSM? I would LOVE to tell off the mainstream media in as vivid & colorful expletives as possible!
Besides my stated desire for him to lose every tournament he is in, I hope he gets taxed at 100%, AND has to deal with illegal alien squatters on his property, just to serve him right for being such a sniveling coward!
Really?
Loyal to a STATE?
Really?
‘If I play a game for the LA Dodgers in AZ against the AZ Diamondbacks, did I earn the $$ in CA? How?’
Well, first, you’re an employee of a company incorporated in California, assuming the Dodgers are incorporated in CA.
Your income is taxed at CA income tax rates no matter where you’re performing the ‘business’.
It works the other way around also. If you’re a Diamondback and play a game in CA, you’ll be taxed at CA state income tax rates also because that’s where the business was performed. The Diamondbacks organization would have to qualify as a foreign corporation in CA before they would be allowed to play there anyway.
‘Double taxed?’ you might ask? Why, yes of course. It’s California. But, that happens with any state with a state income tax.
But not other income earned in the state of residence, such as investment returns and probably endorsements. The unspoken issue is, taxes aside, who really wants to live in Mexico? And that’s what California is fast becoming.
It's a Southern thing. You would not understand.
You are correct, as I live in NORTH Florida.
There are still 6 states with out an state income tax........Tennessee is a wonderful place to live in the EASTERN portion in all those beautiful mountains or Land between the Lakes that borders KY.
Although as liberal as most of them are do we really want them in our state? THEY might not like Kali’s high taxes, but they chose to live there and to vote the libtards who tax them to death in office, even when caught with their hands in the cookie jar stealing from the tax payer, they will vote a dem in if they are black.
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