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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Soul Crusher on August 01, 2012, 08:54:53 AM
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Go for the Gold! (Pay the IRS.)
10:35 AM, Aug 1, 2012 • By JONATHAN V. LAST
Because conservatives are scrooges, the good folks at Americans for Tax Reform have gone through the fine print to find out what our Olympians will have to cough up to the IRS should they be lucky enough to win any medals in London.
Even by the standards of our government, the numbers are insane.
For instance: Americans who win bronze will pay a $2 tax on the medal itself. But the bronze comes with a modest prize—$10,000 as an honorarium for devoting your entire life to being the third best athlete on the planet in your chosen discipline. And the IRS will take $3,500 of that, thank you very much.
There are also prizes that accompany each medal: $25,000 for gold, $15,000 for silver, and $10,000 for bronze.
Silver medalists will owe $5,385. You win a gold? Timothy Geithner will be standing there with his hand out for $8,986.
So as of this writing, swimmer Missy Franklin—who's a high school student—is already on the hook for almost $14,000. By the time she's done in the pool, her tab could be much higher. (That is, unless she has to decline the prize money to placate the NCAA—the only organization in America whose nuttiness rivals the IRS.)
ATR notes that the real twist of the knife is that most other Olympians won't pay any taxes on their medals because America is one of only a handful of countries which taxes "worldwide" prize income earned overseas.
http://www.weeklystandard.com/blogs/go-gold-pay-irs_649187.html
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LOL @ Geithner will be standing there to collect the money
333 - I can't believe you didn't blame this on Obama
Maybe Romney can teach the Olympians how to create a phony shell corporation and hide their money in the Cayman Islands
Speaking of corporations, isn't it about time that one of them competed for the US in the Olympics
They are people after all. Why are we discriminating against them
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LOL @ Geithner will be standing there to collect the money
333 - I can't believe you didn't blame this on Obama
Maybe Romney can teach the Olympians how to create a phony shell corporation and hide their money in the Cayman Islands
Speaking of corporations, isn't it about time that one of them competed for the US in the Olympics
They are people after all. Why are we discriminating against them
Corporations are "people" for legal purposes you incompetent fool.
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Corporations are "people" for legal purposes you incompetent fool.
Of course and Jesus died for their sins too
Corporations are people my friend
My next door neighbor is a corporation
The asshole borrowed my weed whacker two months ago and hasn't brought it back yet
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Of course and Jesus died for their sins too
Corporations are people my friend
My next door neighbor is a corporation
The asshole borrowed my weed whacker two months ago and hasn't brought it back yet
You really are an idiot. You obviously have not even the most basic understanding of corporate law.
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You really are an idiot. You obviously have not even the most basic understanding of corporate law.
Speaking of being an idiot
Are you familiar with the word sarcasm?