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(Fox News)   Well, at least the Winter Olympics gives Fox News another chance to dust off its "Are High Taxes Making It Too Hard For Our Athletes To Afford Winning A Medal?" article   (foxnews.com) divider line 124
    More: Stupid, Fox News, U.S. Olympic, Uncle Sam, Winter Olympics, United States, gold prices, alpine skiing, wages  
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3044 clicks; posted to Main » on 08 Feb 2014 at 7:25 PM (28 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-02-08 05:40:58 PM
I remember after Phil Mickelson choked away yet another US Open last year, Fox News ran some derpy story about how he was probably relieved because he'd have owed another million bucks in taxes if he'd come in first.

Yeah, I'm sure that winning the one major that's eluded him, and putting himself in the inner circle of the greatest golfers of all time by only being the 5th golfer ever to complete the career Grand Slam wouldn't enter into it at all, and having to pay a bit of tax would make him regret it.  My suspicion is that Mickelson, like many pro golfers (and pro athletes in general) is in general alignment with Fox News politically, but if I were him, I'd find that insulting as hell.
 
2014-02-08 06:00:08 PM
Taxation is at the lowest levels since... You know what forget it

Keep farking that chicken, Fox
 
2014-02-08 06:02:42 PM
You earn income, you pay taxes. If they don't like the laws, nobody is forcing them to compete.
 
2014-02-08 06:07:34 PM
im sorry, did they just give an example of two millionaires who are in the top tax bracket, and expect me to feel bad that if they win an extra 25k they only net around 16? let me bust out the smallest violen ever
 
2014-02-08 06:31:47 PM

vudutek: You earn income, you pay taxes. If they don't like the laws, nobody is forcing them to compete.


We all know that Fox News is the home to fair and balanced reporting, never so better exemplified by their restrained and thoughtful coverage of US tax policy.
 
2014-02-08 06:34:13 PM
So... Tax breaks?
 
2014-02-08 06:47:44 PM

clancifer: So... Tax breaks?


That is the answer to every question.

/As long as the tax breaks go to the wealthy
//the poors need to pay MORE taxes, so they have some 'skin in the game'
 
2014-02-08 06:52:58 PM
Yea, I'm sure that an Olympian is thinking "Winning a metal is an accomplishment of a lifetime, but I better not as I'd have to pay taxes on it."

Medal-winning Olympians have so many endorsement deals thrown at them upon coming home that paying taxes on their medal isn't a problem.
 
2014-02-08 07:09:39 PM
You mean lower taxes will help athletes compete against athletes from other countries that already have higher tax burdens?  The one American carded athlete I know told me that most other nation's athletes are much better funded which is why she needs sponsors.
 
2014-02-08 07:21:41 PM
How are Olympic teams paid for?
 
vpb [TotalFark]
2014-02-08 07:24:34 PM
Olympic athletes aren't professionals and they usually aren't really well off so I doubt that they are affected by taxes much.
 
2014-02-08 07:32:44 PM
Just as the Olympics should be free in their entirety to watch, as Canada does for its citizenry, performing in the Olympics should not be subject to these kinds of burdensome taxes. There people are risking a lot for the sake of American PR, they should not have to pay taxes on the glory they bring home.
 
2014-02-08 07:32:50 PM

vpb: Olympic athletes aren't professionals and they usually aren't really well off so I doubt that they are affected by taxes much.



I think Charles Barkley, Lebron James are considered well off.    And they are affected by taxes.
 
2014-02-08 07:34:38 PM

dustman81: Yea, I'm sure that an Olympian is thinking "Winning a metal is an accomplishment of a lifetime, but I better not as I'd have to pay taxes on it."

Medal-winning Olympians have so many endorsement deals thrown at them upon coming home that paying taxes on their medal isn't a problem.


[citation needed]
 
2014-02-08 07:37:27 PM

fusillade762: How are Olympic teams paid for?


Endorsements?
 
2014-02-08 07:40:40 PM
Oh no! Dropping $10k in taxes in exchange for potential endorsement deals in the high 6 figures / low 7 figures?

That's just Guantanamo style torture!
 
2014-02-08 07:42:18 PM
Other countries: Our Olympians join the military and have the easy life in their hard training for the games.

Foxnews: DAMN SOCIALISMS!!!!

Jamaica: We just like were on the beach and we thought, we should go in da bobsled competition, mon.

Foxnews: DAMN LAZY BLACK PEOPLES!!!!!

North American Olympic Athletes: Welfare is great. I can spend 16 hours a day training and dumb suckers give me money to get to the games to compete.

Foxnews: Ah, good? I mean like you are waving the U.S. flag, right? Damn you Obama for not throwing cash at these flag waving patriots.
 
2014-02-08 07:42:20 PM

ManateeGag: fusillade762: How are Olympic teams paid for?

Endorsements?


Sponsorships, endorsements, etc..
 
2014-02-08 07:42:26 PM
You realize you only pay taxes on money you earn, right?

It's a tax on income - it's not like there's a $9k fine for winning a medal that's leaving the athletes poorer than when they started.
 
2014-02-08 07:44:42 PM

InterruptingQuirk: Just as the Olympics should be free in their entirety to watch, as Canada does for its citizenry, performing in the Olympics should not be subject to these kinds of burdensome taxes. There people are risking a lot for the sake of American PR, they should not have to pay taxes on the glory they bring home.


I mean how are they ever going to pay taxes that result because we gave them a pile of money? That is outrageous. It isn't like they just got a bunch of money or anything.
 
2014-02-08 07:45:37 PM

dustman81: Yea, I'm sure that an Olympian is thinking "Winning a metal is an accomplishment of a lifetime, but I better not as I'd have to pay taxes on it."

Medal-winning Olympians have so many endorsement deals thrown at them upon coming home that paying taxes on their medal isn't a problem.


How the hell is that a motivation?  They're gonna have to pay so much of their sponsorship money to Uncle Sam they might as well just sign up for food stamps now.  Did you even read the article?  The more money you make, the poorer you are.
 
2014-02-08 07:46:28 PM
On Tuesday, Texas GOP Rep. Blake Farenthold re-introduced legislation -- the "Tax Exemptions for American Medalists (TEAM) Act" - that would exempt U.S. Olympic athletes from paying taxes on the medals and the accompanying money.

"This needless tax illustrates how complicated and burdensome our tax code has become," he said.  "We need a fairer system for all, and eliminating this unnecessary tax burden on our athletes is a good way to start."

During the 2012 presidential campaign, Republican nominee Mitt Romney and President Obama backed a similar Senate proposal.



Since Romney is for it, I'm going to be against this idea.
 
2014-02-08 07:47:08 PM
And clearly the potential tax burden has really made it nigh impossible to even field athletes for most of the events.  Our team has like what, ten or eleven people on it?  And those bastards are probably on food stamps.
 
2014-02-08 07:47:22 PM

vudutek: You earn income, you pay taxes. If they don't like the laws, nobody is forcing them to compete.


On this weeks episode of 'When Right Wing Talking Points Go Bad':

'The knew what they signed up for',
 
2014-02-08 07:48:23 PM

Descartes: "This needless tax illustrates how complicated and burdensome our tax code has become," he said.  "We need a fairer system for all, and eliminating this unnecessary tax burden on our athletes is a good way to start."


Umm. Does he realize he is advocating creating an exception to the normal rules? In other words making the tax code MORE complicated.
 
2014-02-08 07:49:15 PM
Just imagine if NPR or BSNBC ran this story. Farkers would be outraged that Olympic medal winners were expected to pay taxes on their medals.
 
2014-02-08 07:49:30 PM
At risk of agreeing with Fox News, it is stupid to tax Olympic winnings.

But then our tax reporting requirements for citizens who live out of the country are rediculous.  You just about need a CPA to file your income, bank account information, and all kinds of extra stuff to more than likely not owe anything.
 
2014-02-08 07:51:40 PM
What is consistently overlooked is that these athletes enter multiple tournaments in non-Olympic years.

They have an income just like us. I don't hear the biatching about taxes in the off years.
 
2014-02-08 07:55:43 PM
The rich pay no taxes.
Everybody knows this.
 
2014-02-08 07:58:22 PM

TerminalEchoes: Just imagine if NPR or BSNBC ran this story. Farkers would be outraged that Olympic medal winners were expected to pay taxes on their medals.


No, but at least we'd know the story had merit and wasn't some bullshiat pulled out of Roger Ailes' ass.
 
2014-02-08 08:01:50 PM

mainstreet62: ManateeGag: fusillade762: How are Olympic teams paid for?

Endorsements?

Sponsorships, endorsements, etc..


So no tax money is involved?
 
2014-02-08 08:03:38 PM

mainstreet62: What is consistently overlooked is that these athletes enter multiple tournaments in non-Olympic years.

They have an income just like us. I don't hear the biatching about taxes in the off years.


Well, yeah. The athletes aren't rich. If they don't want to pay as much in taxes they should just make more money.
 
2014-02-08 08:04:15 PM
Great, so don't reward them and there's nothing to tax. Boom. Done.
 
2014-02-08 08:04:20 PM
 
2014-02-08 08:05:44 PM

InterruptingQuirk: dustman81: Yea, I'm sure that an Olympian is thinking "Winning a metal is an accomplishment of a lifetime, but I better not as I'd have to pay taxes on it."

Medal-winning Olympians have so many endorsement deals thrown at them upon coming home that paying taxes on their medal isn't a problem.

[citation needed]


Forbes Magazine, August 12th, 2012, "...And now for those endorsement deals" (New window)
 
2014-02-08 08:06:29 PM

dustman81: Yea, I'm sure that an Olympian is thinking "Winning a metal is an accomplishment of a lifetime, but I better not as I'd have to pay taxes on it."

Medal-winning Olympians have so many endorsement deals thrown at them upon coming home that paying taxes on their medal isn't a problem.


You should look at an interview that Jon Stewart has with Edward Conard.  Stewart's argument is very similar to yours.  Conrad (a former Bain Capital executive) says that if taxes are higher, Americans will be disinclined to be inventive if they think they will be less able to profit from it.  And Stewart's reply is basically, "I don't think you understand the nature of creativity."
 
2014-02-08 08:06:31 PM

fusillade762: How are Olympic teams paid for?


Tax cuts and prayer in public schools
 
2014-02-08 08:06:43 PM

IS CHLOE MAKING IT HARDER

FOR OUR ATHLETES TO TRAIN?

img.fark.net
 
2014-02-08 08:06:57 PM
Fox News: Where scientists and schoolteachers are "leeches" who deserve to pay double-extra taxes, but the person in the world who is the best at riding a snowboard off a cliff needs a special Congressional exemption on their income.
 
2014-02-08 08:08:52 PM
Well that explains why the US does so poorly at every Olympics.....

Besides which look at the other countries that frequently compete on a medal count with the US. I'm pretty damn sure that most of them pay more taxes.
 
2014-02-08 08:10:48 PM

Prey4reign: vudutek: You earn income, you pay taxes. If they don't like the laws, nobody is forcing them to compete.

We all know that Fox News is the home to fair and balanced reporting, never so better exemplified by their restrained and thoughtful coverage of US tax policy.


Yes, and it is totally balanced over at MSNBC where they said that the IRS is fair because somewhere in America, a Democrat was audited in 2012.
 
2014-02-08 08:11:27 PM

TheGreatGazoo: At risk of agreeing with Fox News, it is stupid to tax Olympic winnings.


Or what's more stupid is faking false outrage over a tax rate that only the richest of the rich olympic athletes will pay.  The guys who are competing in Ice Curling?  They will pay maybe 5 bucks in taxes if they win the gold - if that.

But then our tax reporting requirements for citizens who live out of the country are rediculous.  You just about need a CPA to file your income, bank account information, and all kinds of extra stuff to more than likely not owe anything.

You do realize US olympic athletes don't live outside the US?
 
2014-02-08 08:12:48 PM

fusillade762: How are Olympic teams paid for?


The US Curling team had to take two weeks off their regular jobs to compete.  No one pays for them.  And no one will give them the endorsements that a gold winning ice skater will receive.
 
2014-02-08 08:14:36 PM

TerminalEchoes: Just imagine if NPR or BSNBC ran this story. Farkers would be outraged that Olympic medal winners were expected to pay taxes on their medals.


Nope, I'd still not give a damn one way or the other. The 2010 Olympics brought the US 37 medals, figure maybe 60 individuals due to team events. So even if all the athletes were in the top bracket (they're not), we're talking in the neighborhood of $360k in taxes. Not enough for me to care if they get an exemption carved out. But I also don't care that people get taxed on income earned just because it was earned doing something "special."

The source, whether Fox or NPR, is not going going to make me care either way.
 
2014-02-08 08:15:06 PM

dywed88: InterruptingQuirk: Just as the Olympics should be free in their entirety to watch, as Canada does for its citizenry, performing in the Olympics should not be subject to these kinds of burdensome taxes. There people are risking a lot for the sake of American PR, they should not have to pay taxes on the glory they bring home.

I mean how are they ever going to pay taxes that result because we gave them a pile of money? That is outrageous. It isn't like they just got a bunch of money or anything.


Those assholes trained on roads we built.  Tax those farkers.  We earned that gold.
 
2014-02-08 08:16:25 PM
You didnt win that medal asshole.

How'd you get to the gym?  You build it on your own property?  How'd you get to the airport to get here?

Pay up slacker.
 
2014-02-08 08:16:55 PM
Also - when athletes die, their kids have to pay taxes on the medals that get passed down.
 
2014-02-08 08:18:49 PM
Coming in first among my peers from around the whole farking world would mean more to me than farking money.
 
2014-02-08 08:19:00 PM
You earn money, you pay taxes. This should not be a difficult thing to understand.
 
2014-02-08 08:20:34 PM
Oh look, its another unchallenged PR release from Grover Norquist and his boss the Koch Bros. again.
 
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