Skip to comments.Achieve Olympic Glory - Now Pay the IRS
Posted on 02/07/2014 8:24:35 AM PST by Rusty0604
U.S. Olympic gold medal winners could owe almost $10,000 to the IRS
The USOC awards prizes to U.S. Olympic medal winners: $25,000 for gold, $15,000 for silver, and $10,000 for bronze. Relative to each athlete's income tax bracket, some top earners such as Shaun White could end up paying over a third (39.6 percent) of their winnings to the IRS.
Additionally, because the U.S. is one of only a handful of developed countries that tax income earned abroad, it is likely America's competitors will not be subject to such a tax. Taken together - the tax on Olympic athletes and the tax on income earned abroad - it can be said the U.S. has officially "earned the Gold" for having one of the most backwards and illogical tax codes in the world.
(Excerpt) Read more at atr.org ...
income tax is immoral.
HAPPY TAX SEASON EVERYONE!!! There are a lot of Obama children depending on you to pay your fair share.