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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 sawdust View Post
    Honestly Joe, it's exactly how it works in the real world fro quarterbacks to hamburger flippers.
    Most hamburger flippers are paid minimum wage however good they are. The really bad might get sacked and the really good might get promoted but while they're standing next to each other, one slowly burning or undercooking the burgers leaving disappointed customers and the quickly cooking them perfectly leaving happy (and repeat) customers, they're receiving exactly the same money.

    Brady on the other hand was sitting on the bench when the final decisive play was made in the Superbowl which instantly doubled his income for the day and probably increased his earning potential in the future (depending on how good his negotiation team is, who themselves will likely get paid a percentage, another different method). There's a reason he wanted to give the truck to the guy who got that interception.

    This isn't about questioning the amounts involved (that’s a somewhat different question), it's about recognising that how pay/income is determined is very different in different fields and contexts.

    Quote Originally Posted by sawdust View Post
    TV contracts help establish salary caps for pro football teams so it's a good example of trickle down.
    Don't salary caps also suggest some players aren't getting paid as much as the teams think they're actually worth (though whether that equates to what they're actually worth remains open to question)?

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

    Quote Originally Posted by Grand Mal View Post
    Taxation shouldn't be on a 'whatever the market will bear' basis.
    ....except that is fundamental precept of free markets...

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

    Quote Originally Posted by upsideguy View Post
    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.
    I think the outrage is more of a, "jeez, is there no end to how much of peoples earnings/winnings that the government will take?" kind of thing.

    Yes, we should grow up, and realize the government is not our parents. The government is here to serve us, not the other way around. It has gotten so big and out of control, it is nothing like what it was supposed to be. It has lost it's place.
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    Re: Tom Brady owes the IRS over 60 grand for winning Super Bowl.

    Quote Originally Posted by Anthony60 View Post
    I think the outrage is more of a, "jeez, is there no end to how much of peoples earnings/winnings that the government will take?" kind of thing.

    Yes, we should grow up, and realize the government is not our parents. The government is here to serve us, not the other way around. It has gotten so big and out of control, it is nothing like what it was supposed to be. It has lost it's place.
    The government can't serve you unless it has the resources to do so. Taxation is one means of acquiring those resources.
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    Re: Tom Brady owes the IRS over 60 grand for winning Super Bowl.

    Since Butler actually sealed the win for the Patriots, he probably should have been the MVP. It was a nice gesture on Brady's part to recognize that. The government collects taxes on anything it can use as an excuse. We need to reduce its need and ability to spend. In the meantime three cheers to Brady for doing a good thing.

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

    Quote Originally Posted by CanadaJohn View Post
    I don't disagree with you, but in the US don't you have to pay tax on winnings in a lottery or at a casino, etc.? Why should winning a car or income from playing a game be any different. Here in Canada, if you win $10 million in a lottery, that's $10 million tax free you get and you pay tax only on any income you generate on the $10 million after you have it in your hands. Likewise, if you win a few $thousand at the race track or casino, you don't have to pay tax on your winnings before you get it and you don't have to declare it as income, because it's not "earned".

    Tom Brady, making $millions for playing a fun sport, in a league making $billions should not be the poster child for taxation sob stories. Put up the couple who win $300 million in the Megaball lottery having to pay $150 million in tax before they get their hands on a cent of it.
    Why should the lottery be tax-free? Let's face it the lottery is only a moneymaking gimmick for the state anyway.

    So a couple wins 300 million and has to settle for 150 million? Oh boo-hoo Hoo call the Waaaabulance.

    Besides the vast majority of people who win the lottery end up broke in a couple years anyway. You could give them 150 million 300 million or billion the fact is people who play the lottery usually don't know how to manage their cash anyway and they end up losing it all
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    Re: Tom Brady owes the IRS over 60 grand for winning Super Bowl.

    Quote Originally Posted by EMNofSeattle View Post
    Why should the lottery be tax-free? Let's face it the lottery is only a moneymaking gimmick for the state anyway.

    So a couple wins 300 million and has to settle for 150 million? Oh boo-hoo Hoo call the Waaaabulance.

    Besides the vast majority of people who win the lottery end up broke in a couple years anyway. You could give them 150 million 300 million or billion the fact is people who play the lottery usually don't know how to manage their cash anyway and they end up losing it all
    You may not realize it, but you answered your own question in your comments.

    The lottery should be tax free because the government already skims off its profit (tax) from all the monies provided to buy the tickets. If the lottery pays out a top prize of $300 million, you can bet the governments involved have already skimmed off a good $billion as their cut before any prize is collected. And then they get to ding you again on the winnings?

    And isn't it typical that a "progressive" would think that a citizen shouldn't get to keep their money because the government knows best how to spend it for them. Land of the free, my ass!!

    Americans like to call Canada a "socialist" country but just who are the socialists in this scenario?
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    Re: Tom Brady owes the IRS over 60 grand for winning Super Bowl.

    Quote Originally Posted by Unrepresented View Post
    The government can't serve you unless it has the resources to do so. Taxation is one means of acquiring those resources.
    Well, that's just a generic, basic statement.

    Can they serve us without going into (putting us into) Trillions of dollars of debt? Of course they can, but they won't. Because they get support from those on the left, and even some that are kind of on the right, to spend, spend, spend.
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    Re: Tom Brady owes the IRS over 60 grand for winning Super Bowl.

    Quote Originally Posted by CanadaJohn View Post
    You may not realize it, but you answered your own question in your comments.

    The lottery should be tax free because the government already skims off its profit (tax) from all the monies provided to buy the tickets. If the lottery pays out a top prize of $300 million, you can bet the governments involved have already skimmed off a good $billion as their cut before any prize is collected. And then they get to ding you again on the winnings?

    And isn't it typical that a "progressive" would think that a citizen shouldn't get to keep their money because the government knows best how to spend it for them. Land of the free, my ass!!

    Americans like to call Canada a "socialist" country but just who are the socialists in this scenario?
    Yes, it is kind of stupid how they do it. They take in all the lottery money, then make a portion available for winnings, then take more from that portion that they made available from the winners. I guess they think it will attract to more players if the jackpot is $300M instead of $150M?
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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.
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