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

  1. #61
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    Re: Tom Brady owes the IRS over 60 grand for winning Super Bowl.

    Quote Originally Posted by Henrin View Post
    Where do you think police spend more time? Up protecting the wealthy communities or the down in the poor communities?
    They're all down in the poorer communities to prevent them from raiding the rich communities.
    "The side that stays within its fortifications is beaten." ~Napoleon

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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.
    Just for the record, the exemption is $5.43 million per person. The experts at Americans for Tax Reform got that wrong too. And tax experts at Americans for TAX Reform also don't understand gift taxes either - Brady is married so can give $28,000 tax free to anyone. ATR said it's only $14,000.

    About the level of honesty/accuracy I'd expect from Norquist's operation.

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

    Quote Originally Posted by Anthony60 View Post
    So do I, am I entitled to some of their wages/winnings? Things like that event being taxable is why we need to get rid of or seriously cut down the IRS.
    Not really - those things are in the Code to prevent abuse as much as anything. Let's say I want to pay you a bonus, but don't want it taxable. I'll just 'trade' you a brand new $40,000 F-150 for your lawnmower worth $200..... IRS says the person getting the truck got $39,800 in taxable income, which is correct.

    If you trade items of like value, it's highly unlikely there is going to be any tax owed.

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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.
    Taxation shouldn't be on a 'whatever the market will bear' basis.
    "I did not mean that Conservatives are generally stupid people. I meant that stupid people are generally Conservatives."
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    Re: Tom Brady owes the IRS over 60 grand for winning Super Bowl.

    Have we gotten to the post yet of "He is rich and can afford it, so screw him!"? If not, I am shocked.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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

    Pocket change for Brady. The rookie should have received the truck.
    Killing one person is murder, killing 100,000 is foreign policy

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

    Quote Originally Posted by HonestJoe View Post
    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.

    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.
    Honestly Joe, it's exactly how it works in the real world fro quarterbacks to hamburger flippers. The more value you create for a business, the more you're worth and paid. TV contracts help establish salary caps for pro football teams so it's a good example of trickle down.
    "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.

    Are you serious? He earned $97,000 for playing in the game and got a free truck, which was worth another 35-40K. Sorry you are outraged, but you pay tax on income in this country. When you have a big tax bill, it means you got paid a lot of money. We should all like seeing $60,000 due for taxes at the bottom of our tax return.

    Its time to grow up (and lay off the political porn --- look at the headline, it was designed simply to get your blood pressure up, without ever having the pretense of actually educating you, as apparently it did not). Save your outrage for truly troubling things.

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

    Quote Originally Posted by TurtleDude View Post
    any tax system that causes Tom Brady to have to pay some of your citizenship dues is really immoral. Rich people subsidizing the benefits of slackers, the untalented or even the unlucky is hardly moral
    You whine and bitch more than any rich person on the site. Don't you have some guns to shoot?

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

    Quote Originally Posted by Texmex View Post
    You whine and bitch more than any rich person on the site. Don't you have some guns to shoot?
    How is that whining and how is your attack relevant?



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