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I posted this thread on TNO as well to get more reaction. Go to the following link to see more views on the issue.
Well, well...it seems that the Obama administration is at it again...doing what the left does best...tax the **** out you.
If you are an Olympic athlete, and you win a medal, you also win a cash bonus. It breaks down as such:
Gold: $25 000
SIlver: $15 000
Bronze: $10 000
Under tax laws imposed by the US Government, the IRS is allowed to tax your winnings and (possibly) your medal as "income"
So how much will U.S. Olympic medal winners have to pay in taxes to the IRS (the tax revenue service that is run by the US Government)? American gold medal winners will pay the IRS up to $8,986. Silver medal winners will pay up to $5,385. Bronze medal winners will pay up to $3,502.
To add insult to injury...no other country in the world is doing this to their athletes. The US Government is the only Government on the planet that imposes taxes on overseas earnings.
But...we have to remember...those Athletes did not earn those medals by themselves. If it was not for the Government "Building roads and infrastructure" then they would not be on the world stage now...isn't that right Mr. Obama?
What do you guys think of this?
Well, well...it seems that the Obama administration is at it again...doing what the left does best...tax the **** out you.
If you are an Olympic athlete, and you win a medal, you also win a cash bonus. It breaks down as such:
Gold: $25 000
SIlver: $15 000
Bronze: $10 000
Under tax laws imposed by the US Government, the IRS is allowed to tax your winnings and (possibly) your medal as "income"
So how much will U.S. Olympic medal winners have to pay in taxes to the IRS (the tax revenue service that is run by the US Government)? American gold medal winners will pay the IRS up to $8,986. Silver medal winners will pay up to $5,385. Bronze medal winners will pay up to $3,502.
To add insult to injury...no other country in the world is doing this to their athletes. The US Government is the only Government on the planet that imposes taxes on overseas earnings.
But...we have to remember...those Athletes did not earn those medals by themselves. If it was not for the Government "Building roads and infrastructure" then they would not be on the world stage now...isn't that right Mr. Obama?
What do you guys think of this?
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