Aug
09

Gold Medal Tax Insanity

A bill supported by Obama and introduced by Senator Rubio exempting Olympians from paying taxes on their prize winnings, is emblematic of all that ails Washington! These folks don’t deserve special treatment! Our taxes must rise to make up the lost revenue or else we must borrow more from the Chinese. Moreover, it encourages folks to become Olympic athletes. Is there a crying shortage of dressage-riders and synchronized-swimmers?

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  1. Peter de la Cruz says:

    If the Olympics remained true to their amateur competition roots, there should be no prize money to be taxed, another reason it makes no sense to declare it tax exempt. I suspect, however, that post-event endorsements and appearance fees will generate the majority of income and tax revenue.

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