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(TaxProf)   Manny Pacquiao KO'd by IRS, refuses to fight in U.S. because of new 40% tax rate   (taxprof.typepad.com) divider line 47
    More: Interesting, Manny Pacquiao, Bob Arum, Juan Manuel Marquez, U.S., Illinois General Assembly, MGM Grand in Las Vegas, Macau, personal income taxes  
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1477 clicks; posted to Sports » on 17 Feb 2013 at 3:02 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-02-17 10:55:23 AM
"Manny can go back to Las Vegas and make $25 million, but how much of it will he end up with - $15 million?" Arum said. "If he goes to Macau, perhaps his purse will only be $20 million, but he will get to keep it all, so he will be better off."

It took a tax increase for him to realize that paying anything over 0% was in his best interest?

Smart dude.
 
2013-02-17 10:59:31 AM
He's truly a job creator.
 
2013-02-17 11:20:37 AM

NewportBarGuy: "Manny can go back to Las Vegas and make $25 million, but how much of it will he end up with - $15 million?" Arum said. "If he goes to Macau, perhaps his purse will only be $20 million, but he will get to keep it all, so he will be better off."

It took a tax increase for him to realize that paying anything over 0% was in his best interest?

Smart dude.


He's still paying 32% to the Philippine government.  I wonder if they allow as many loopholes that the IRS does.
 
2013-02-17 11:27:16 AM

BunkyBrewman: NewportBarGuy: "Manny can go back to Las Vegas and make $25 million, but how much of it will he end up with - $15 million?" Arum said. "If he goes to Macau, perhaps his purse will only be $20 million, but he will get to keep it all, so he will be better off."

It took a tax increase for him to realize that paying anything over 0% was in his best interest?

Smart dude.

He's still paying 32% to the Philippine government.  I wonder if they allow as many loopholes that the IRS does.


Don't start asking questions

/you'll screw up the narrative
//POOR, POOR RICH PEOPLE
 
2013-02-17 11:34:01 AM

BunkyBrewman: NewportBarGuy: "Manny can go back to Las Vegas and make $25 million, but how much of it will he end up with - $15 million?" Arum said. "If he goes to Macau, perhaps his purse will only be $20 million, but he will get to keep it all, so he will be better off."

It took a tax increase for him to realize that paying anything over 0% was in his best interest?

Smart dude.

He's still paying 32% to the Philippine government.  I wonder if they allow as many loopholes that the IRS does.


Probably not on income he earns outside the Philippines.

Taxing you on money you earn abroad is an (almost) uniquely american thing.
 
2013-02-17 12:16:50 PM
well, bye.
 
2013-02-17 12:18:14 PM

Tigger: BunkyBrewman: NewportBarGuy: "Manny can go back to Las Vegas and make $25 million, but how much of it will he end up with - $15 million?" Arum said. "If he goes to Macau, perhaps his purse will only be $20 million, but he will get to keep it all, so he will be better off."

It took a tax increase for him to realize that paying anything over 0% was in his best interest?

Smart dude.

He's still paying 32% to the Philippine government.  I wonder if they allow as many loopholes that the IRS does.

Probably not on income he earns outside the Philippines.

Taxing you on money you earn abroad is an (almost) uniquely american thing.


according to internets, residents of the philippines are taxed on worldwide income
 
2013-02-17 12:19:05 PM
Now watch as the new international Pay Per View tax goes to 60%.
 
2013-02-17 12:19:32 PM
There is a link midway through the article to Brietbart. I question the political neutrality of this article.
 
2013-02-17 12:28:59 PM
How can we expect this poor guy to survive on only $15 million?
 
2013-02-17 12:48:09 PM
I only know him from the Hennessy ads.

So is Fark going to have Hennessy "White Rabbit" Moments?
 
2013-02-17 12:58:33 PM

antidisestablishmentarianism: There is a link midway through the article to Brietbart. I question the political neutrality of this article.


You have BDS so I question your ability to look at the facts presented in an article without being a partisan shill.
 
2013-02-17 01:04:42 PM

tenpoundsofcheese: BDS


Big Dick Syndrome? I don't see what the size of my package has to do with politics.
 
2013-02-17 01:08:07 PM

tenpoundsofcheese: I question your ability


You lost that privilege quite some time ago.
 
2013-02-17 02:05:46 PM

tenpoundsofcheese: BDS


Brietbart Dumb Shaits?
 
2013-02-17 02:07:47 PM

NewportBarGuy: tenpoundsofcheese: I question your ability

You lost that privilege quite some time ago.


You fail.
I didn't lose anything.
See, I was able to question why this person got all upset when he saw....gasp...a Breitbart link (Breitbart derangement syndrome).
 
2013-02-17 02:27:28 PM

tenpoundsofcheese: NewportBarGuy: tenpoundsofcheese: I question your ability

You lost that privilege quite some time ago.

You fail.
I didn't lose anything.
See, I was able to question why this person got all upset when he saw....gasp...a Breitbart link (Breitbart derangement syndrome).


Is this a new thing now? Anytime someone dismisses partisan shillery due to continued, verified partisan shillery of the source you just say they have a made up mental disorder?

Good luck with that
 
2013-02-17 02:35:01 PM

tenpoundsofcheese: You fail.
I didn't lose anything.
See, I was able to question why this person got all upset when he saw....gasp...a Breitbart link (Breitbart derangement syndrome).


I would have had the same reaction if the source had been The Daily KOS.
 
2013-02-17 02:39:51 PM
Fine, go box elsewhere.  No one here will miss you, you farking dipshiat.
 
2013-02-17 02:57:16 PM
You know, I don't really care for rich tax crybabies as much as the next guy, but the dude is from the Philippines.  If he wanted to fight in Macau, which is MUCH closer to home and would net him more money I don't think that makes him an asshole.  It's that douchebag Bob Arum that's running his mouth about it.

Having said that, I'm sincerely farking amazed that there is enough money in boxing that he's projecting a $20 million payday.
 
2013-02-17 03:11:41 PM
The thing is, it his money.  It doesn't belong to the feds, none of it.  The IRS could have had part of it... as it has in the past but the feds got too greedy getting something for nothing and then wanted more.  Now the IRS gets nothing.
 
2013-02-17 03:28:44 PM
I usually make good money on fights so this would hurt me a little.
 
2013-02-17 03:37:58 PM
Thanks Obama
 
kab
2013-02-17 03:45:27 PM
Silly boxer, just get Romney's accountants to offshore it all for you.
 
2013-02-17 03:51:12 PM

king of vegas: I usually make good money on fights so this would hurt me a little.


What type of business?
 
2013-02-17 04:10:34 PM

Mentat: How can we expect this poor guy to survive on only $15 million?


We don't, and I'm pretty sure he's not overwhelmed with grief about you not caring.

What it does say, however, is that people, given the ability to make a choice, make decisions based upon taxation rates. That's hardly a secret, but it is much more obvious when there is more money at stake. If you're going to tell me that you'd willingly give the government that much of your earnings I'm here to tell you that you're lying and to inform you that the IRS will gratefully accept your donation to cover the difference between your current taxation rate and that of Manny Pacquiao that you don't think is too high.
 
2013-02-17 04:43:08 PM

antidisestablishmentarianism: tenpoundsofcheese: You fail.
I didn't lose anything.
See, I was able to question why this person got all upset when he saw....gasp...a Breitbart link (Breitbart derangement syndrome).

I would have had the same reaction if the source had been The Daily KOS.


...what news source would have you actually praising its credibility, perchance?

/At least conservatrolls are honest about their partisanship.
 
2013-02-17 05:04:55 PM

antidisestablishmentarianism: There is a link midway through the article to Brietbart. I question the political neutrality of this article.


That's only for the tax rate link, for people not to think it won't cause issues being taxed at such a high rate.....

I wonder how many events they have to lose for the reality to sink in, some companies are already leaving states that have raised tax rates because of their fark ups yet think the answer is raising taxes higher and not cutting dead weight.
 
2013-02-17 05:47:07 PM
So, he makes his name and fortune by taking advantage of this country's economic opportunities and concentration of wealth, but when its time to pay his share, he pitches a fit and threatens to take his ball and go home.

What's the big deal? Pacquiao just sounds like a Good Conservative.

/Rush Limbaugh does this every day.
 
2013-02-17 05:54:49 PM
img14.imageshack.us
 
2013-02-17 06:07:28 PM

Funbags: So, he makes his name and fortune by taking advantage of this country's economic opportunities and concentration of wealth, but when its time to pay his share, he pitches a fit and threatens to take his ball and go home.


That's exaggerating it a bit. It's not like he's not going to pay his share of the money he already made here, just that he may not have fights here in the future. I supported raising the top tax rates, but I can't say I blame him for taking the bigger net-payout opportunity if it's there.

The issue is time zone differences between here and Macau. I'm sure a pay-per-view fight that would air in the morning US time would be a tougher sell than one that fits our day. Maybe it makes up for that with non-US viewers, I don't know.
 
2013-02-17 07:21:24 PM

IlGreven: news source


Blogs aren't news sources, last I checked Kos and Brietbart were blogs or news commentaries.
 
2013-02-17 07:39:34 PM

FreakinB: Funbags: So, he makes his name and fortune by taking advantage of this country's economic opportunities and concentration of wealth, but when its time to pay his share, he pitches a fit and threatens to take his ball and go home.

That's exaggerating it a bit. It's not like he's not going to pay his share of the money he already made here, just that he may not have fights here in the future. I supported raising the top tax rates, but I can't say I blame him for taking the bigger net-payout opportunity if it's there.

The issue is time zone differences between here and Macau. I'm sure a pay-per-view fight that would air in the morning US time would be a tougher sell than one that fits our day. Maybe it makes up for that with non-US viewers, I don't know.


Big fights held abroad still go live at around 11 PM EST, as US PPV is where the vast majority of the money is. Doesn't matter if it's 4 AM or 1 PM local, east coast PPV dictates the start time.
 
2013-02-17 07:40:06 PM
Well, bye.
 
2013-02-17 07:45:12 PM

FreakinB: Funbags: So, he makes his name and fortune by taking advantage of this country's economic opportunities and concentration of wealth, but when its time to pay his share, he pitches a fit and threatens to take his ball and go home.

That's exaggerating it a bit. It's not like he's not going to pay his share of the money he already made here, just that he may not have fights here in the future. I supported raising the top tax rates, but I can't say I blame him for taking the bigger net-payout opportunity if it's there.

The issue is time zone differences between here and Macau. I'm sure a pay-per-view fight that would air in the morning US time would be a tougher sell than one that fits our day. Maybe it makes up for that with non-US viewers, I don't know.


I essentially agree. Boxing is inherently dangerous, so its wise to have as short and lucrative career as you can.

That said, I hope US boxing fans noticed that Pac just doesn't have anything left, PPV buys are terrible, regardless of the time zone.
 
2013-02-17 08:29:49 PM

Adolf Oliver Nipples: Mentat: How can we expect this poor guy to survive on only $15 million?

We don't, and I'm pretty sure he's not overwhelmed with grief about you not caring.

What it does say, however, is that people, given the ability to make a choice, make decisions based upon taxation rates. That's hardly a secret, but it is much more obvious when there is more money at stake. If you're going to tell me that you'd willingly give the government that much of your earnings I'm here to tell you that you're lying and to inform you that the IRS will gratefully accept your donation to cover the difference between your current taxation rate and that of Manny Pacquiao that you don't think is too high.


$15 million is more money than I and my parents combined made in our lifetimes.  If I'm such a douche that I would complain about making that much money in one setting, then I encourage everyone to rip me to shreds for it.
 
2013-02-17 09:18:01 PM
My God.. can you imagine the dystopian future we face if we let prize fights head to Macau?
 
2013-02-17 09:29:19 PM

Mentat: Adolf Oliver Nipples: Mentat: How can we expect this poor guy to survive on only $15 million?

We don't, and I'm pretty sure he's not overwhelmed with grief about you not caring.

What it does say, however, is that people, given the ability to make a choice, make decisions based upon taxation rates. That's hardly a secret, but it is much more obvious when there is more money at stake. If you're going to tell me that you'd willingly give the government that much of your earnings I'm here to tell you that you're lying and to inform you that the IRS will gratefully accept your donation to cover the difference between your current taxation rate and that of Manny Pacquiao that you don't think is too high.

$15 million is more money than I and my parents combined made in our lifetimes.  If I'm such a douche that I would complain about making that much money in one setting, then I encourage everyone to rip me to shreds for it.


So what? Neither you nor your dad can fight worth dick.
 
2013-02-17 10:18:09 PM

antidisestablishmentarianism: IlGreven: news source

Blogs aren't news sources


...so when are you telling Drew his site isn't a news source?
 
2013-02-17 10:24:12 PM

Hoban Washburne: You know, I don't really care for rich tax crybabies as much as the next guy, but the dude is from the Philippines.  If he wanted to fight in Macau, which is MUCH closer to home and would net him more money I don't think that makes him an asshole.  It's that douchebag Bob Arum that's running his mouth about it.

Having said that, I'm sincerely farking amazed that there is enough money in boxing that he's projecting a $20 million payday.


You should look up how much him and Floyd Mayweather usually make.
 
2013-02-18 01:06:40 AM
What? Individuals respond to incentives? That's UNPOSSIBLE!
 
2013-02-18 01:09:31 AM
fark off Manny. Things cost money. Airports, hotel inspectors, boxing commissioners, the whole goddam infrastructure that makes a living possible in the fight game. Or we could have you pay-as-you-go when you come in. Take a few hits to the head and all of a sudden you think this thing we built just magically appeared on day.
 
2013-02-18 04:16:45 AM
I don't see the problem. If you had to go on a business trip far from home, wouldn't you pick the location that will net you 25% more? If not then your dumber than a guy who gets punched in the head for a living.
 
2013-02-18 08:38:27 AM
Amazing the number of people who feel the guy should willing give up an extra $5 mil (est.) to fight farther from his home. Too many of you are letting your politics seep into the sports tab today. I give a fark less about where or even if Pac fights again but to act like so many of you would piss away $5 mil so a foreign country could have more tax intake is laughable and really easy to do when it's not your cash we're talking about.

I agree with  FreakinB, I'm fine with the tax hikes but see no reason why a foreign national shouldn't consider protecting their payday because of them.
 
2013-02-18 10:47:45 AM
Well...bye.
 
2013-02-18 05:15:26 PM

Funbags: So, he makes his name and fortune by taking advantage of this country's economic opportunities and concentration of wealth, but when its time to pay his share, he pitches a fit and threatens to take his ball and go home.

What's the big deal? Pacquiao just sounds like a Good Conservative.

/Rush Limbaugh does this every day.


I'm assuming you attack Bono with the same effort, correct?
 
2013-02-20 11:48:22 AM

Mentat: Adolf Oliver Nipples: Mentat: How can we expect this poor guy to survive on only $15 million?

We don't, and I'm pretty sure he's not overwhelmed with grief about you not caring.

What it does say, however, is that people, given the ability to make a choice, make decisions based upon taxation rates. That's hardly a secret, but it is much more obvious when there is more money at stake. If you're going to tell me that you'd willingly give the government that much of your earnings I'm here to tell you that you're lying and to inform you that the IRS will gratefully accept your donation to cover the difference between your current taxation rate and that of Manny Pacquiao that you don't think is too high.

$15 million is more money than I and my parents combined made in our lifetimes.  If I'm such a douche that I would complain about making that much money in one setting, then I encourage everyone to rip me to shreds for it.


You're not a douche for knowing how to live on 15 mil, you're a douche for telling other people how they should live, spend, and earn their money. Get real dude if you are at the top of your profession, you would be a moron to undercut yourself--especially with 5 to 10 million at stake.
 
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