Free Republic
Browse · Search
Topics · Post Article

Skip to comments.

Achieve Olympic Glory - Now Pay the IRS
Americans for Tax Reform ^ | 02/07/2014 | Justin Sykes

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 ...

TOPICS: Miscellaneous

1 posted on 02/07/2014 8:24:35 AM PST by Rusty0604
[ Post Reply | Private Reply | View Replies]

To: Rusty0604

income tax is immoral.

2 posted on 02/07/2014 11:30:50 AM PST by bravo whiskey (We should not fear our government. Our government should fear us.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: bravo whiskey

HAPPY TAX SEASON EVERYONE!!! There are a lot of Obama children depending on you to pay your fair share.

3 posted on 02/07/2014 12:20:14 PM PST by Organic Panic
[ Post Reply | Private Reply | To 2 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794 is powered by software copyright 2000-2008 John Robinson