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Rubio bill eliminates federal tax on Olympic medals

Nothing on page 1 refutes the link.

Why do you just make stuff up?

the article contradicts itself, but your personal attack is noted.

We will also note that ATR said "winners will owe up to $9,000" -- a phrase that gives the group leeway for its estimates.

Still, the experts we spoke to suggested that a $9,000 tax payment was unrealistically high. For most athletes, the payment will be less

They admit nothing was actually inaccurate, just unrealistic that an individual would reach the statistically feasible max amount.
 
the politilie writers forget about The US basketball team apparently as well. When they win a medal, quite a few of those athletes will be paying the highest marginal rate on the awards.

ATR has now responded to the crap analysis provided

Americans for Tax Reform : Responding to Politifact on Olympics and Taxes

My God, how will those guys ... who are probably making on average $10 million a year ... swing this four-digit tax? Probably by deducting their travel and associated expenses....

This is a cheap political stunt by Rubio. He continues to not impress.
 
I'm 100% against it. Those people didn't win those medals on their own - we built roads, after all, for them to drive to the airport on. They owe us.

How selfish of you, the Brits also built roads to the stadium which means the medals belong to the UK.
 
How selfish of you, the Brits also built roads to the stadium which means the medals belong to the UK.

The Brits started the colonies. So we owe everything to them.
 
This is a stupid issue. Of course Olympic athletes should have to pay taxes, just like everyone else. Is there any actual REASON for why they should play by a different set of rules than other people? This looks like mindless political grandstanding in the middle of the Olympics. When people talk about how the tax code is overly complex, it's because of stupid **** like this.
 
the politilie writers forget about The US basketball team apparently as well. When they win a medal, quite a few of those athletes will be paying the highest marginal rate on the awards.

ATR has now responded to the crap analysis provided

Americans for Tax Reform : Responding to Politifact on Olympics and Taxes

Oh no those poor NBA players...

Do you think we should stop taxing people in the top marginal tax bracket when they earn more money or something? Why shouldn't this income be taxed like any other?
 
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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?
 
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[1] How does the cash award not violate the required non-professional status of the athlete? I'm confused.


[2] I see it as grand standing legislation and nothing more.
1. With the participation of professional athletes (Dream Team for one), not to mention the state-sponsored-status-since-birth of athletes from some, usually authoritarian, countries the whole amateur status of the Olympics has been debatable for quite some time.

2. Well said :cool:
 
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.
 
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.
 
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.
 
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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.
 
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?
 
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.
 
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?
 
If you won the Nobel Peace Prize, would you pay taxes on the medal?
 
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...
 
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.
 
"At 1.3 million pages it is twice the length of Tolstoy's War and Peace"[/I]


:lol:

Lol indeed. War and Peace c.1,200 pages. In what way is that half of 1.3 million pages? :Oopsie
 
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?

Kobe Bryant earned 27 million last season. Pretty sure he will hit that top bracket.

So your facts are bull****.
 
My God, how will those guys ... who are probably making on average $10 million a year ... swing this four-digit tax? Probably by deducting their travel and associated expenses....

This is a cheap political stunt by Rubio. He continues to not impress.

so you admit politifact were lying? you must be, as I never once argued in favor of a new bill that treats athletic success differently then other types of success. My debate was over the dishonest way politifact weighed in on this claim
 
Oh no those poor NBA players...

Do you think we should stop taxing people in the top marginal tax bracket when they earn more money or something? Why shouldn't this income be taxed like any other?

same reply to you i posted to your twin above:


so you admit politifact were lying? you must be, as I never once argued in favor of a new bill that treats athletic success differently then other types of success. My debate was over the dishonest way politifact weighted in on this claim
 
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