Page 7 of 8 FirstFirst ... 5678 LastLast
Results 61 to 70 of 75

Thread: Rubio bill eliminates federal tax on Olympic medals

  1. #61
    Sage
    Karl's Avatar
    Join Date
    Sep 2010
    Last Seen
    12-18-14 @ 09:35 AM
    Lean
    Progressive
    Posts
    5,561

    Re: Rubio bill eliminates federal tax on Olympic medals

    Quote Originally Posted by American View Post
    Sen. Marco Rubio introduced a bill Wednesday to eliminate the federal government’s tax on Olympic medals, saying the levy amounted to yet another way the government tries to punish those who succeed.
    I'm on the fence about this. I understand the sacrifice these people have made, and I'm not a fan of taxes; especially those that seem excessive like these. However lots of people make huge sacrifices and don't get breaks, so I don't know.
    I'm not on the fence -- this proves beyond any doubt that Rubio is a pandering opportunistic taxpayer-money-wasting asshole.

  2. #62
    Advisor Truckstop's Avatar
    Join Date
    May 2011
    Location
    Mesa, AZ
    Last Seen
    Today @ 03:13 AM
    Gender
    Lean
    Independent
    Posts
    550

    Re: Rubio bill eliminates federal tax on Olympic medals

    Quote Originally Posted by The Man View Post
    To clear up any misunderstanding, there is income tax on the money prize ($25K prize for gold), and a tax on the medal itself (~$286 tax for a gold, $2 for a bronze). Of course Olympic medal winners should be taxed, just like everyone else is taxed. Why shouldn't they be? Why should someone get a tax exemption because they won their money by playing a game, while everyone else has to pay tax on the money that they earn by working?
    Oh for the love of god they train constantly and play for their country. Do they get paid to train even if they don't make it? Greedy SOB's. Why doesnt the tax the **** out of everyone crowd just pay them $225000 for the gold and give them $25k then you could crow about how you are taxing the successful at 90%, pat yourselves on the back and get back to flippin burgers.

  3. #63
    Guru
    The Man's Avatar
    Join Date
    Jun 2012
    Location
    York, Pennsylvania
    Last Seen
    Today @ 07:46 AM
    Lean
    Undisclosed
    Posts
    4,756
    Quote Originally Posted by Truckstop View Post
    Oh for the love of god they train constantly and play for their country. Do they get paid to train even if they don't make it? Greedy SOB's. Why doesnt the tax the **** out of everyone crowd just pay them $225000 for the gold and give them $25k then you could crow about how you are taxing the successful at 90%, pat yourselves on the back and get back to flippin burgers.
    Pay taxes on your income and prizes, just like everyone else has to. It really doesn't matter how they got that income and prizes.

    I'm all for making Olympic athletes' pay and prizes tax exempt, as long as every other American's earned income is also tax exempt.
    Last edited by The Man; 08-05-12 at 09:44 PM.

  4. #64
    Advisor Truckstop's Avatar
    Join Date
    May 2011
    Location
    Mesa, AZ
    Last Seen
    Today @ 03:13 AM
    Gender
    Lean
    Independent
    Posts
    550
    Quote Originally Posted by The Man View Post
    Pay taxes on your income and prizes, just like everyone else has to. It really doesn't matter how they got that income and prizes.

    I'm all for making Olympic athletes' pay and prizes tax exempt, as long as every other American's earned income is also tax exempt.
    Its not pay. They don't get paid (to my knowledge, could be wrong). The prize is the medal. The money is us saying thanks for representing us to the point of being in the top 3 in the world.

  5. #65
    Guru
    The Man's Avatar
    Join Date
    Jun 2012
    Location
    York, Pennsylvania
    Last Seen
    Today @ 07:46 AM
    Lean
    Undisclosed
    Posts
    4,756
    Quote Originally Posted by Truckstop View Post
    Its not pay. They don't get paid (to my knowledge, could be wrong). The prize is the medal. The money is us saying thanks for representing us to the point of being in the top 3 in the world.
    Ok, so it's a 'prize'. Pay taxes on it just like any other American who wins a prize. Why should that be exempt from taxes?

  6. #66
    Anti-Hypocrite
    molten_dragon's Avatar
    Join Date
    Oct 2009
    Location
    Southeast Michigan
    Last Seen
    Today @ 08:01 AM
    Gender
    Lean
    Slightly Liberal
    Posts
    9,351

    Re: Rubio bill eliminates federal tax on Olympic medals

    I'm fine with not taxing the actual value of the medal itself, but they're also getting paid a pretty significant amount of money for winning, and I see no reason why that shouldn't be taxed as income.
    If you build a man a fire, he'll be warm for a day.

    If you set a man on fire, he'll be warm for the rest of his life.

  7. #67
    Sage
    lpast's Avatar
    Join Date
    Mar 2011
    Location
    Fla
    Last Seen
    05-21-16 @ 10:12 PM
    Gender
    Lean
    Independent
    Posts
    13,565

    Re: Rubio bill eliminates federal tax on Olympic medals

    Ok heres the facts...no one pays anywhere near the tax rate stated on their gold medals...you have to be at the top tax bracket of 35% and making over 340,000 a year...read the facts here. You have to read the entire article to get it all

    snopes.com: U.S. Gold Medal Winners Pay $9,000 in Taxes?

  8. #68
    Guru

    Join Date
    Aug 2011
    Location
    In a Blue State
    Last Seen
    Today @ 07:15 AM
    Gender
    Lean
    Libertarian
    Posts
    4,734

    Re: Rubio bill eliminates federal tax on Olympic medals

    If you won the Nobel Peace Prize, would you pay taxes on the medal?
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

  9. #69
    Sage
    lpast's Avatar
    Join Date
    Mar 2011
    Location
    Fla
    Last Seen
    05-21-16 @ 10:12 PM
    Gender
    Lean
    Independent
    Posts
    13,565

    Re: Rubio bill eliminates federal tax on Olympic medals

    Quote Originally Posted by Blue_State View Post
    If you won the Nobel Peace Prize, would you pay taxes on the medal?
    I didnt say I agreed with it...I just posted some facts because someone said they couldnt find any...Im just fine with them paying NO tax on it...

  10. #70
    Guru

    Join Date
    Aug 2011
    Location
    In a Blue State
    Last Seen
    Today @ 07:15 AM
    Gender
    Lean
    Libertarian
    Posts
    4,734

    Re: Rubio bill eliminates federal tax on Olympic medals

    Quote Originally Posted by lpast View Post
    I didnt say I agreed with it...I just posted some facts because someone said they couldnt find any...Im just fine with them paying NO tax on it...
    My comment wasn't directed at you. I was actually just curious. If I had my way, no tax on the medal and throw the prize money into their earned income.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

Page 7 of 8 FirstFirst ... 5678 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •