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Thread: Tom Brady owes the IRS over 60 grand for winning Super Bowl.

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    Re: Tom Brady owes the IRS over 60 grand for winning Super Bowl.

    Quote Originally Posted by HonestJoe View Post
    Or to put it another way, his after-tax take-home pay for the afternoon works out at around $10,000 an hour? (not counting all the pay and endorsements not covered in that article).

    So you could have a point. That does sound wrong.
    We are all paid in proportion to the value we create in business. Brady won the Super Bowl so he earned what he made. On the other hand, Josh McCowen, quarterback for the Buc's sat home and made nothing. He got what he deserved as well.
    "A democracy cannot exist as a permanent form of government. It can only exist until the majority discovers it can vote itself largess out of the public treasury." Attributed to Alexander Tytler

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    Re: Tom Brady owes the IRS over 60 grand for winning Super Bowl.

    Quote Originally Posted by sawdust View Post
    We are all paid in proportion to the value we create in business. Brady won the Super Bowl so he earned what he made. On the other hand, Josh McCowen, quarterback for the Buc's sat home and made nothing. He got what he deserved as well.
    So basically RG3 owes money back.

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    Re: Tom Brady owes the IRS over 60 grand for winning Super Bowl.

    Quote Originally Posted by CRUE CAB View Post
    So basically RG3 owes money back.
    Pretty much. Bucs have the no. 1 pick in the draft though.
    "A democracy cannot exist as a permanent form of government. It can only exist until the majority discovers it can vote itself largess out of the public treasury." Attributed to Alexander Tytler

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    Re: Tom Brady owes the IRS over 60 grand for winning Super Bowl.

    You and I may think it's wrong but there are those around here who believe it's still not enough.

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    Re: Tom Brady owes the IRS over 60 grand for winning Super Bowl.

    I'm not sure what the issue is...are you saying his income shouldn't of been taxed? That we create a "Super Bowl" Tax exemption?
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    Re: Tom Brady owes the IRS over 60 grand for winning Super Bowl.

    In regards to getting paid "millions for playing a game".

    I remember a player for the Colts, a first round pick defensive lineman.

    He said sure he gets paid more than most people make in a lifetime.

    but "most people won't be hobbling around on two artificial knees when they are 40"

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    Re: Tom Brady owes the IRS over 60 grand for winning Super Bowl.

    Quote Originally Posted by Dayton3 View Post
    In regards to getting paid "millions for playing a game".

    I remember a player for the Colts, a first round pick defensive lineman.

    He said sure he gets paid more than most people make in a lifetime.

    but "most people won't be hobbling around on two artificial knees when they are 40"
    Life choice. Use that free degree you got to get a JOB.

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    Re: Tom Brady owes the IRS over 60 grand for winning Super Bowl.

    Quote Originally Posted by DA60 View Post
    Poor baby.

    He can afford it INCREDIBLY easily.

    My empathy for him over this is ZERO.
    What's with all the hate? Not once in the article did I read he was complaining.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
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    Re: Tom Brady owes the IRS over 60 grand for winning Super Bowl.

    I should point out that I don't have any especially strong feeling about high pay in (some) professional sports. I was really just turning around the OPs wording.

    Quote Originally Posted by sawdust View Post
    We are all paid in proportion to the value we create in business. Brady won the Super Bowl so he earned what he made.
    Nice theory but it's not how it actually works in the real world. The method by which the perceived value of American Football player is calculated is entirely differently to that for, say, a professional tennis player, vastly different again to us regular salaried workers and different again to a number of other fields.

    Anyway, here we're talking about the Superbowl game pay which I believe is the same for all the players on the winning team, regardless of the scale or quality of their individual contributions (and they say Americans don't do Communism ). It's interesting that this article chose not to look at Brady's "normal" in-season wages.

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    Re: Tom Brady owes the IRS over 60 grand for winning Super Bowl.

    Quote Originally Posted by Declan View Post
    The reason we pay gift taxes on winning is because it can be written off as an expense by the donor. Eliminate the ability to expense prizes and there would be no need to tax winners. The first $13K or so of value he gave away in the truck is exempt, and after that he will have to pay gift taxes now or at his death or have the difference allocated against his $1M exemption, so he is getting taxed on both sides of that deal. It is why some people will negotiate around being the middleman and why people need to talk to a good tax attorney before they claim their lottery winnings. Once they take possession of it, they expose themselves to possibly avoidable taxes depending on what they plan to do with the money.
    Or, we could just eliminate the tax on winnings, I don't see any reason the government is entitled to someone's winnings. Anyway, this more wages than winnings, wasn't like he won a lottery, he's being paid for what he's done.
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