An example of just how screwed up taxes can be...Football fact!

[SwimExpert]

Playing in the Super Bowl is part of his contract which is.... google it yourself... anyway it is a lot more than $46K.

Not the payment.

 

[thereisnospoon]

Isn't this your hero, Chris Christy's state?

A governor needs a cooperative legislature to pass tax reform, spending reform, clamp down on expensive public worker unions, attract business, etc.
See Wisconsin.

 

[thereisnospoon]

This is why I firmly believe that there should be a federal law that prevents a person from being subjected to income tax liability by two states at the same time.

Get this. NY's tax laws are so confiscatory in policy, the following are true.
If a husband and wife file a joint return, are non residents of NY and one spouse works in NY but not the other, NY requires BOTH spouses file a NY State income tax form AND the spouse that does not work. or live in NY MUST pay NYS income taxes. This happened to us. We ignored the requirement. That was in 1988. Never heard a word from the NY Dept of Revenue
- If a non resident of NY happens to own property in the State of NY, even if said property is NOT a residence but is a vacation home, NY requires that person to pay NYS income taxes.
- If a person works just a single day in NY, they must file a NYS income tax return.
Even if they come into the state for a meeting.
This kind of money grabbing nonsense, yet the state is still broke and looking for new ways to confiscate the earnings of workers.

 

[thereisnospoon]

Brother Eli has played his entire career in NJ and I doubt if he pays 101% in taxes

Maybe Peyton needs a better accountant

As a NJ resident, I seriously doubt if we will see any of his money

Eli plays plenty of games outside of NJ so he pays taxes in those other states just like how teams visiting NJ pay taxes to NJ.

If more of Manning's salary is being apportioned to NJ then less of it is being apportioned to the other states he has played.

Incorrect.
First, not every state has a non resident requirement to pay state income tax. Second, few states use the person's entire yearly income as a base from which they tax. Instead the state taxes ONLY those earnings while in that particular state.

 

[thereisnospoon]

While I have no interest in professional football, I do care about taxes. An example of just how screwed up taxes can be...this time involving the state of New Jersey:

If the Denver Broncos loose the Superbowl and their quarterback, Payton Manning, continues to play the 2014 season, he will pay New Jersey $46,844 on his $46,000, which amounts to a 101.83% tax on his actual Super Bowl earnings in the state—and this does not even consider federal taxes!

That's right, the state of NJ may impose a 101% tax rate on a person's income. How screwed up is that?!

New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings - Forbes

Come on now! Didn't you know that there is income "inequailty" in this country. For every dollar Manning makes, some poor soul isn't getting a dollar because wealth is finite and there is only so much of it to go around. It isn't "fair" that he has too much and someone else has too little. The only right thing to do is take some of it away thru taxes and pass it on to the other 99%. Get with the program! It's like you didn't listen to the SOTU address at all.

Actually his salary is inflated by government subsidization of stadiums.

Wait a minute...What was that? Can you repost. I cannot believe my fucking eyes.

 

[thereisnospoon]

Well this thread has settled into stupid.

 

[FA_Q2]

Playing in the Super Bowl is part of his contract which is.... google it yourself... anyway it is a lot more than $46K.

Not the payment.

Ahhhh. The refuge of the intellectual moron – go Google it yourself…

IOW, prove my point for me because I can’t.

He still has yet to even articulate his actual point. I don’t see why he thinks that others should prove a point for him that he can’t even make in full.

 

[eflatminor]

Do I have to explain to you why the ratio of income to the tax matters? It was the basis of your argument. You calculated it wrong. Any of this ringing a bell? Hello? Anyone home?

No, you don't not have to explain that. You do have to explain, if you are to back up your statement, why the math is "wrong" and why Forbes is wrong but you are right. So far, you still got nothing.

The guy may end up paying more in taxes than he's paid...there's no way around that. Explain to us simpletons how the math is wrong and while you're at it, explain why you apparently think that is okay.

He isn't only paid $40K to play in the SB.

If you need more help in remedial math please let me know.

If Denver loses, he is paid $46,844...and may be taxed at over 100% for what he earned in that state.

It would appear you need help with that math...still looking for your correction of the math Forbes provided. Still looking for your explanation why you think a 100%+ tax rate is acceptable.

 

[eflatminor]

It is robbery when a state takes pretty much 80%-100% of what someone earns....when the state has done nothing to earn that money.

Do you think taxation is robbery?

The highest marginal rate is below 9% I believe. They are not taking 80 to 100%. People did math wrong.

Ah! Now we have our answer! Forbes got the math wrong "because you say so"!!!

Well geez, how could I have missed that? After all, "because I say so" is the most powerful retort there is. I mean, how can anyone come back with that level of logic, reason and specificity?

Really very impressive sir!

Tell us, were you the Captain of your debate team in High School?

 

[kwc57]

Actually his salary is inflated by government subsidization of stadiums.

Any idea of the financial benefit to area businesses and the resulting tax revenue a city/state takes in when they have a major league sports stadium?

Generally...zero or less!

Bullshit. Cheasapeake Arena is 2 blocks from my office. The OKC Thunder play there. Ask the surrounding hotels, restaurants, clubs, retailers and gas stations how much difference having them there has increased their profits. It's substantial.

 

[kwc57]

Asswipe, pro athletes are FORCED to work in states they don't live in and many times at ridiculous tax rates set aside for fat rich people sitting on their asses in that state.

The amount of money generated from sports events should be enough to end this practice of raping a pro athlete coming into NY, CA, NJ, etc 1-3 times a year. If someone lives in New Jersey and plays pro sports, they should pay out the nose to support scum like you on welfare in NJ.

Payton Manning doesn't live in NJ and never will so he shouldn't fund your welfare programs.

The state income tax can be based on both where you work and where you live. If you work in one state and live in another your state of residence gives you a tax credit for the taxes paid to the other jurisdiction.

He worked there.

I am sure your state works the same way.

BTW are you on drugs?

Negative. For a while, I was part of my company's professional services team where our customers would contract to have us come to their location to work on special projects. I live in Oklahoma. I spent 10 months working in Vermont. I paid my taxes in Oklahoma, not Vermont. You really need to start supporting your arguments with a little knowledge and fact instead of your personal opinion.

 

[Delta4Embassy]

Stopping thinking about how messed up US tax laws are once I understood what "the more you make, the more they take" meant. Why should I "work hard and get a good-paying job" if doing so just means I then get punished more via taxes for my efforts?

A flat-tax where everyone's taxed equally is the only fair method.

 

[eflatminor]

A flat-tax where everyone's taxed equally is the only fair method.

I agree that would be a fairer method, but not "the only fair method".

The only fair method, in my opinion, would be for the government to operate within the confines of its strictly limited enumerated powers, which means we wouldn't need an income tax at all.

 

[Bombur]

Brother Eli has played his entire career in NJ and I doubt if he pays 101% in taxes

Maybe Peyton needs a better accountant

As a NJ resident, I seriously doubt if we will see any of his money

Eli plays plenty of games outside of NJ so he pays taxes in those other states just like how teams visiting NJ pay taxes to NJ.

If more of Manning's salary is being apportioned to NJ then less of it is being apportioned to the other states he has played.

Incorrect.
First, not every state has a non resident requirement to pay state income tax. Second, few states use the person's entire yearly income as a base from which they tax. Instead the state taxes ONLY those earnings while in that particular state.

Not every state has an income tax. What is your point?

Yes part of the income is apportioned to the state in which they are playing. I already said that but you are acting like you are contradicting me when you are just repeating the same point.

/boggle

 

[Bombur]

Asswipe, pro athletes are FORCED to work in states they don't live in and many times at ridiculous tax rates set aside for fat rich people sitting on their asses in that state.

The amount of money generated from sports events should be enough to end this practice of raping a pro athlete coming into NY, CA, NJ, etc 1-3 times a year. If someone lives in New Jersey and plays pro sports, they should pay out the nose to support scum like you on welfare in NJ.

Payton Manning doesn't live in NJ and never will so he shouldn't fund your welfare programs.

He worked there.

I am sure your state works the same way.

BTW are you on drugs?

Negative. For a while, I was part of my company's professional services team where our customers would contract to have us come to their location to work on special projects. I live in Oklahoma. I spent 10 months working in Vermont. I paid my taxes in Oklahoma, not Vermont. You really need to start supporting your arguments with a little knowledge and fact instead of your personal opinion.

Individual Income Taxes

HTH

 

[Bombur]

It is robbery when a state takes pretty much 80%-100% of what someone earns....when the state has done nothing to earn that money.

The highest marginal rate is below 9% I believe. They are not taking 80 to 100%. People did math wrong.

Ah! Now we have our answer! Forbes got the math wrong "because you say so"!!!

Well geez, how could I have missed that? After all, "because I say so" is the most powerful retort there is. I mean, how can anyone come back with that level of logic, reason and specificity?

Really very impressive sir!

Tell us, were you the Captain of your debate team in High School?

How many pages does this thread really need before you admit the math is wrong?

 

[Bombur]

Playing in the Super Bowl is part of his contract which is.... google it yourself... anyway it is a lot more than $46K.

Not the payment.

Ahhhh. The refuge of the intellectual moron – go Google it yourself…

IOW, prove my point for me because I can’t.

He still has yet to even articulate his actual point. I don’t see why he thinks that others should prove a point for him that he can’t even make in full.

His salary doesn't really matter because everyone knows even without google that he is getting paid a lot more than $46K a game or whatever the number from the article was.

 

[eflatminor]

The highest marginal rate is below 9% I believe. They are not taking 80 to 100%. People did math wrong.

Ah! Now we have our answer! Forbes got the math wrong "because you say so"!!!

Well geez, how could I have missed that? After all, "because I say so" is the most powerful retort there is. I mean, how can anyone come back with that level of logic, reason and specificity?

Really very impressive sir!

Tell us, were you the Captain of your debate team in High School?

How many pages does this thread really need before you admit the math is wrong?

I'll admit Forbes got the math wrong when you provide the slightest bit of evidence of that being the case.

Thus far, all we've gotten is "because you say so" and that retort means nothing.

The floor is yours. Come on, thrill us with your acumen...

 

[eflatminor]

Not the payment.

Ahhhh. The refuge of the intellectual moron – go Google it yourself…

IOW, prove my point for me because I can’t.

He still has yet to even articulate his actual point. I don’t see why he thinks that others should prove a point for him that he can’t even make in full.

His salary doesn't really matter because everyone knows even without google that he is getting paid a lot more than $46K a game or whatever the number from the article was.

The state of New Jersey would disagree. that's exactly what's he's getting paid to play that game at MetLife stadium.

Still looking for that math correction...

 

[Bombur]

Ah! Now we have our answer! Forbes got the math wrong "because you say so"!!!

Well geez, how could I have missed that? After all, "because I say so" is the most powerful retort there is. I mean, how can anyone come back with that level of logic, reason and specificity?

Really very impressive sir!

Tell us, were you the Captain of your debate team in High School?

How many pages does this thread really need before you admit the math is wrong?

I'll admit Forbes got the math wrong when you provide the slightest bit of evidence of that being the case.

Thus far, all we've gotten is "because you say so" and that retort means nothing.

The floor is yours. Come on, thrill us with your acumen...

AFAIK this is the 4th time I have pointed this out.

He gets paid more than $46K a game.