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

TurtleDude said:
I think the free market-while not perfect-is far better in deciding compensation levels than people who may be operating under the influence of envy
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There is a difference between envy and concern over an unsustainable imbalance of wealth.
 
Unrepresented said:
There is a difference between envy and concern over an unsustainable imbalance of wealth.
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mot of the difference is in one case the concern is feigned.
 
Henrin said:
I'll let this speak for me..

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On the note of equal taxation though, if your prior claim about taxes is correct and taxes are indeed to pay for those services provided to us, then it is only reasonable that people are charged equally for those services.
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That's on the presumption that people are using them equally. Tom Brady needs more services than other citizens, he pays more as a result.
 
Unrepresented said:
That's on the presumption that people are using them equally. Tom Brady needs more services than other citizens, he pays more as a result.
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Ok, so why do you think Tom Brady needs more services? Where does most crime take place again?
 
Henrin said:
Ok, so why do you think Tom Brady needs more services? Where does most crime take place again?
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Tom Brady has more wealth than most citizens. Law enforcement prevents the natural diffusion of wealth in a society. Tom Brady uses more resources to protect his massive wealth than I do, considering I have much less wealth to steal, relative.
 
Unrepresented said:
Tom Brady has more wealth than most citizens. Law enforcement prevents the natural diffusion of wealth in a society. Tom Brady uses more resources to protect his massive wealth than I do, considering I have much less wealth to steal, relative.
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Where do you think police spend more time? Up protecting the wealthy communities or down in the poor communities?
 
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In 2013, Brady signed a five-year $57 million contract. $30 million was a signing bonus. If we average that out, it's $11.4 million a year. Not including endorsements.

His bonus on the game per the article was $115,000. That's 0.2% of his 5-year compensation.

Not to mention he probably has everything set up already to dramatically reduce his tax liabilities.

I think he'll be OK. No one should really be outraged about this.
 
Henrin said:
Where do you think police spend more time? Up protecting the wealthy communities or the down in the poor communities?
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They're all down in the poorer communities to prevent them from raiding the rich communities.
 
Declan said:
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.
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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.
 
Anthony60 said:
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.
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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.
 
DA60 said:
Poor baby.

He can afford it INCREDIBLY easily.

My empathy for him over this is ZERO.
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Taxation shouldn't be on a 'whatever the market will bear' basis.
 
Have we gotten to the post yet of "He is rich and can afford it, so screw him!"? If not, I am shocked.
 
HonestJoe said:
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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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.
 
sawdust said:
Tom Brady faces $60,500 IRS bill for winning Super Bowl | WashingtonExaminer.com

This is just wrong.
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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.
 
TurtleDude said:
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
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You whine and bitch more than any rich person on the site. Don't you have some guns to shoot?
 
Texmex said:
You whine and bitch more than any rich person on the site. Don't you have some guns to shoot?
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How is that whining and how is your attack relevant?
 
sawdust said:
Honestly Joe, it's exactly how it works in the real world fro quarterbacks to hamburger flippers.
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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.

sawdust said:
TV contracts help establish salary caps for pro football teams so it's a good example of trickle down.
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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)?
 
upsideguy said:
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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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.
 
Anthony60 said:
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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The government can't serve you unless it has the resources to do so. Taxation is one means of acquiring those resources.
 
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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