So this really made me think:
Forbes.com 8/08/2012 @ 9:51AM Sorry Olympians, Even Nobel Prizes Are Taxed
Faster, higher, richer: Should Olympic medal winners be taxed? LINDSAY TEDDS
And a friend had this to say:
It is unbelievable…because it’s only partially true. The tax burden cited – almost $9K – is only borne by athletes in the 35% tax rate, which would be an AGI of $388,350. The medals themselves range in value from $4.70 for the “bronze” to a bit over $600 for the “gold” – which is about 1% gold – so most athletes that won even gold probably won’t be affected, even if the bill introduced in both houses on 8/1 doesn’t pass (unlikely, unless it’s attached to something reprehensible). So LeBron and Kobe probably pay the $9K, but unless the endorsement deals for the archers and track and field types get them over the adjusted gross income of almost $400K, they pay a lot less. In fact, I’d be so bold as to say that if they do make that much money in endorsements (NOT for their service in the Olympics), that money should be taxed. It’s funny how this only came up this year…
Even if it is only partially true, should Olympic athletes find themselves taxed for winning a medal in this country?
I am going to tell you that while I love the Olympics, I did not enjoy the overdose of talking heads. The constant stream of yackity yack. And commercials. I wish they could have just done more sports, less talk. And there were so many events we only saw mini snippets of.
And I sincerely hope Meredith Viera goes back into retirement now. I kept hoping someone would drop her in the Thames and forget about her….
Oh one other Olympic thing, file under momma needs a muzzle:
Really, since her son is probably has the main bread-winner potential now and she is facing foreclosure, wow, momma shut it.