Skip to comments.LeBronomics: Could High Taxes Influence James' Team Decision?
Posted on 07/08/2010 10:02:15 AM PDT by Arcy
While sports reporters have sought agents and teammates for the inside scoop on where NBA superstar free agent LeBron James will sign, theres another person who may know The Kings next move: his accountant.
In a July 1 blog post, the New York Post warned that dysfunctional lawmakers in Albany could cost the state a chance to bring the coveted athlete to New York.
If LeBron James goes to the Miami Heat instead of the [New York] Knicks, blame our dysfunctional lawmakers in Albany, who have saddled top-earning New Yorkers with the highest state and city income taxes in the nation, soon to be 12.85 percent on top of the IRS bite, the Post said.
The tax savings for James in Miami over New York City would be staggering, according to the Posts analysis.
On a five-year contract worth $96 million -- what he'd get from the Knicks or the Heat -- LeBron would pay $12.34 million in New York taxes. Florida has no state income tax.
(Excerpt) Read more at businessandmedia.org ...
Liberals hate talent of any kind.
Oops, forgot, it appears that acting and singing talent is tolerated. Perhaps because that sort of talent does not often attach itself to intelligence.
High taxes drove Limbaugh out of NY and it has cost NY ever since!!
LeBron is smart if he picks Florida.
I have to wonder why that rich Russian billionaire who bought the Nets wants to move them over to New York?
I guess the oppressive taxes in Jersey are just as bad as New York.
Athletes from out-of state teams pay NY state and city income taxes on the % of their incomes “earned” when the play in NYC..Example..a Tampa Bay Rays player...who plays the Yankees 9 times a year, and earns $3 million...he “reports” earned income in NY of 9/162 of $3 mill...
Doesn’t matter where he goes, he’s a LOSER.
Go Lakers! Go Kobe, Pau, Ron, Andrew, Derek et al!
NY Governor Patterson's response to Rush finally leaving New York after a tax increase: If I knew that would be the result, he said after a speech Thursday morning in Midtown, I wouldve thought about the taxes earlier.
I suppose James could insist that the Knicks pay his state tax...you know pay an extra sum that will neutralize the ‘tribute’ that ny requires from its subjects......if he really wanted to play in NY and they really wanted him then money talks and bull$h!t walks...
of course I do not care who plays or why people like Thug-Ball....
Maybe he and Tiger can room together.....
James has the same “all about me” personality as zer0bama. Unlike “the one” he can actually play.
funny, I use to travel for work, and never payed other states taxes...why do these guys pay, because people know who they are and they can get away with it I suppose....
I wonder if Yankees have to pay canadian income tax when they play Toronto....and vica versa???
If I knew that would be the result, he said after a speech Thursday morning in Midtown, I wouldve thought about the taxes earlier.
So it is OK for a highly visible, elected official, more accurately identified as an unqualified, ignorant, race thug to PUBLICLY, personally attack a private citizen?
Well it should be OK then, if I publicly state that I advocate fiscal policies that would drive the inner city parasites and uncivilized savages out of my city.
What has LeBron done to be called "the King?"
I am a Cavs fan. I will always be a Cavs fan. I was born in Ohio.
LeBron James is an amazing talent. But LeBron James only cares about LeBron James, not the Ohio fans that follow him. Spend their hard earned money to watch him.
Yea, he can play, but I don’t think he is a winner. That he will never win a ring is a prediction I made a couple of years ago. Of course, I could be wrong.
While I agree that high taxes generally drive away business and the wealthy, in this particular case, I’m not sure NYS/NYC taxes will be a huge factor.
If James can increase his total income by playing in NYC, as opposed to Miami, by 15% he would break even. It is likely that his NYC income would be way more than 15% more than his Miami income, so if even with the ridiculous NY taxes, he’d almost certainly take home much more in NYC.
For a lesser known player, without his endorsement opportunities, the taxes might be a big factor, though.
His mother named him “James”, so someone thought it was clever to call him King James, as in the King James Version of the Bible, I think.
He is a great player, but I agree he hasn’t earned basketball royalty yet, though he may well do so in the future.