Good job representing your nation and winning the Gold! Now pay up

Feb 2014
12,580
7,844
nunya
#13
...and that surprises you, why?
It doesnt. Skews, ghost dick and Cameltoe are the axis of hate on here. Seriously everything they post is hate and retribution and shit like that. Then you throw in Tristan and Clara the elites and you get this really good cross reference of why people are ready to start a civil war.
 
Likes: 2 people
Mar 2008
9,638
4,887
australia
#14
They do not tax my possessions as income. Why do they tax a gold medal?
they dont tax the gold medal any more than my government taxes the paper certificate i have framed on my wall. they tax money earned. regardless of how its earned.
It is illegal to use gold to make purchases in the US. Then why is that medal taxed?
thats just stupid.
Albeit it is a cheap gold medal and the tax on that alone would not be very much. I guess you could also argue that most of the athletes could take enough deductions to offset the prize money tax. Since the IRS calls it income then the athletes could use training expense to offset it.
they probably do. remember the olympic committee is paying them this bonus using taxpayers money. medals earned is good for the national psyche so its a good investment, but its also expensive and, like everyone, the athletes contribute to the pool of money that helped train them.
But, would it not be easier to just say good job and let it go...
possibly. money is a good incentive though.
There is plenty of tax to be made off the advertising and endorsement contract money. Its not the gymnast or Michael Phelps that this is a big deal to.
true, endorsements are where the real money is and that gets taxed too.
Its someone like Kim Rhode for instance who it affects more.
thats true, but also irrelevant.

thats
 
Dec 2015
16,986
15,915
Arizona
#15
Why should certain Americans be so priviledged as to be exempt from paying taxes on income that all other Americans are subject to ? It's a business. Quit being so naive.

Apparently some in congress don't like the so-called "victory tax", but these athletes have all kinds of resources. Many are turning to Go-Fund Me and other fund raising sites--Crowdfunding. Some have sponsors. Some get endorsements.
Big companies often support the atheletes.
Big winners like Michael Phelps will clean up with multi-million dollar deals and we will find his photo on a Wheaties box.
What most people forget is all the expenses previous to the Olympic fame. These young people begin training when they are toddlers. Gymnasts, swimmers, skaters, skiers, etc. started when they were barely able to walk. Their parents sacrificed a great deal--financially and time-wise. Imagine taking your kiddo to the ice rink or the pool every morning before school, or to purchase the equipment and training needed for decades. Our Olympic stars are amazing, but they didn't get to the Olympics on their own.
 
Likes: 1 person
Feb 2014
12,580
7,844
nunya
#16
they dont tax the gold medal any more than my government taxes the paper certificate i have framed on my wall. they tax money earned. regardless of how its earned.
They do tax the gold medal. They tax the value that is assigned to it which is not very much because it is apparently lacking in gold.

thats just stupid.
well ok

they probably do. remember the olympic committee is paying them this bonus using taxpayers money. medals earned is good for the national psyche so its a good investment, but its also expensive and, like everyone, the athletes contribute to the pool of money that helped train them.
Whose tax payer money? Are you sure about that? The United States Olympic team is private funded 100%. I am not sure about the Olympic committee
 

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