why is Obama so greedy? now he taxes Olympic medals?

[NYcarbineer]

Democrats are the scuzz buckets of the earth..they even have to ruin a world good will games like the Olympics by demanding money at gun point if an athletes gets on the podium.




Michael Phelps Could Owe $55,000 in 'Victory Taxes' for His Rio Olympic Medals


Michael Phelps Could Owe $55,000 in 'Victory Taxes' for His Rio Olympic Medals
Tiare Dunlap 2016-08-16T15:40:00+00:00
For U.S. athletes, winning an Olympic medal comes with pride, glory – and a hefty tax bill.

According to TIME, Michael Phelps could leave Rio owing up to $55,000 in income taxes.

That's because the U.S. Olympic Committee awards prize money to Olympic athletes who medal at the Games – $25,000 for gold, $15,000 for silver and $10,000 for bronze.

These awards, like other prize money (from a lottery jackpot to a Nobel Prize to game show winnings) is taxable income in the eyes of the IRS.

Obama wrote that law?

 

[irosie91]

Not to worry, two years from now people will still be bitching about the Victory Tax and Congress will still do nothing. Paul Ryan claims this will be an important bill once Congress returns from recess, but I'll see it when I believe it.

Rubio attempted something similar in 2012 with his Tax Exemptions for American Medalists Act (which Obama supported) but it never went anywhere.

it never went anywhere because it is kinda silly-----PRIZE WINNINGS ARE CONSIDERED INCOME IN THE USA

The values of the medals are taxed as well.

Technically just the metals value, not the ebay value of an Olympic gold, which is increasingly low. I read somewhere the bronze in the bronze medals is largely worthless, and the gold's only have a few hundred dollars worth of gold in them.

I hear a gold medal is worth around $500, a silver is worth around $150 and a bronze is worth around $20

Oh, they are not worth much, but that makes little difference to the tax man.

awarded medals themselves are NOT TAXED as far as I know-------as far as I know----the GOLD MEDAL is not----solid gold-------

 

[mdk]

it never went anywhere because it is kinda silly-----PRIZE WINNINGS ARE CONSIDERED INCOME IN THE USA

The values of the medals are taxed as well.

Technically just the metals value, not the ebay value of an Olympic gold, which is increasingly low. I read somewhere the bronze in the bronze medals is largely worthless, and the gold's only have a few hundred dollars worth of gold in them.

I hear a gold medal is worth around $500, a silver is worth around $150 and a bronze is worth around $20

Oh, they are not worth much, but that makes little difference to the tax man.

awarded medals themselves are NOT TAXED as far as I know-------as far as I know----the GOLD MEDAL is not----solid gold-------

"Also at issue is the levy on bonus money from various national sports sanctioning bodies might pay, plus the value of the medals themselves, which are worth a few hundred dollars tops."

Olympic medals need not come with tax burden, but don't wait for Congress

 

[irosie91]

The values of the medals are taxed as well.

Technically just the metals value, not the ebay value of an Olympic gold, which is increasingly low. I read somewhere the bronze in the bronze medals is largely worthless, and the gold's only have a few hundred dollars worth of gold in them.

I hear a gold medal is worth around $500, a silver is worth around $150 and a bronze is worth around $20

Oh, they are not worth much, but that makes little difference to the tax man.

awarded medals themselves are NOT TAXED as far as I know-------as far as I know----the GOLD MEDAL is not----solid gold-------

"Also at issue is the levy on bonus money from various national sports sanctioning bodies might pay, plus the value of the medals themselves, which are worth a few hundred dollars tops."

Olympic medals need not come with tax burden, but don't wait for Congress

"the value of the medals"-------???? are you sure?

 

[bendog]

Democrats are the scuzz buckets of the earth..they even have to ruin a world good will games like the Olympics by demanding money at gun point if an athletes gets on the podium.




Michael Phelps Could Owe $55,000 in 'Victory Taxes' for His Rio Olympic Medals


Michael Phelps Could Owe $55,000 in 'Victory Taxes' for His Rio Olympic Medals
Tiare Dunlap 2016-08-16T15:40:00+00:00
For U.S. athletes, winning an Olympic medal comes with pride, glory – and a hefty tax bill.

According to TIME, Michael Phelps could leave Rio owing up to $55,000 in income taxes.

That's because the U.S. Olympic Committee awards prize money to Olympic athletes who medal at the Games – $25,000 for gold, $15,000 for silver and $10,000 for bronze.

These awards, like other prize money (from a lottery jackpot to a Nobel Prize to game show winnings) is taxable income in the eyes of the IRS.

epic fail. LOL
Not only does this have nothing to do with Obama, Phelps is worth 55 million and is in the top income tax bracket because of endorsements. Most athletes will pay nothing because AS THE LINK YOU APPARENTLY FAILED TO READ SAYS training expenses are deductible

 

[NYcarbineer]

Democrats are the scuzz buckets of the earth..they even have to ruin a world good will games like the Olympics by demanding money at gun point if an athletes gets on the podium.




Michael Phelps Could Owe $55,000 in 'Victory Taxes' for His Rio Olympic Medals


Michael Phelps Could Owe $55,000 in 'Victory Taxes' for His Rio Olympic Medals
Tiare Dunlap 2016-08-16T15:40:00+00:00
For U.S. athletes, winning an Olympic medal comes with pride, glory – and a hefty tax bill.

According to TIME, Michael Phelps could leave Rio owing up to $55,000 in income taxes.

That's because the U.S. Olympic Committee awards prize money to Olympic athletes who medal at the Games – $25,000 for gold, $15,000 for silver and $10,000 for bronze.

These awards, like other prize money (from a lottery jackpot to a Nobel Prize to game show winnings) is taxable income in the eyes of the IRS.

Hey Stupid, the president has nothing to do with this. This income tax on medal winners has been going on for DECADES!

But you and the rest of the nutters don't deal in truth and facts, so let's just say Obama implemented this tax all by himself back in 2008 to cover his green fees.

I KNEW IT! I KNEW IT!

Its all Obama...

Hope and change and steal as much money as he can get. That fucker even taxes suckers for baby's.

You democrats are sick.

Your post adds evidence to the grim fact that you are a fucking simpleton of the first order.

 

[mdk]

Technically just the metals value, not the ebay value of an Olympic gold, which is increasingly low. I read somewhere the bronze in the bronze medals is largely worthless, and the gold's only have a few hundred dollars worth of gold in them.

I hear a gold medal is worth around $500, a silver is worth around $150 and a bronze is worth around $20

Oh, they are not worth much, but that makes little difference to the tax man.

awarded medals themselves are NOT TAXED as far as I know-------as far as I know----the GOLD MEDAL is not----solid gold-------

"Also at issue is the levy on bonus money from various national sports sanctioning bodies might pay, plus the value of the medals themselves, which are worth a few hundred dollars tops."

Olympic medals need not come with tax burden, but don't wait for Congress

"the value of the medals"-------???? are you sure?

Why is this so hard for you to believe?

Congrats you won a gold medal. Now here's your tax bill

 

[irosie91]

I hear a gold medal is worth around $500, a silver is worth around $150 and a bronze is worth around $20

Oh, they are not worth much, but that makes little difference to the tax man.

awarded medals themselves are NOT TAXED as far as I know-------as far as I know----the GOLD MEDAL is not----solid gold-------

"Also at issue is the levy on bonus money from various national sports sanctioning bodies might pay, plus the value of the medals themselves, which are worth a few hundred dollars tops."

Olympic medals need not come with tax burden, but don't wait for Congress

"the value of the medals"-------???? are you sure?

Why is this so hard for you to believe?

Congrats you won a gold medal. Now here's your tax bill

the tax is on the PRIZE MONEY----not on the little doodad medal----(as far as is my understanding)

 

[mdk]

Oh, they are not worth much, but that makes little difference to the tax man.

awarded medals themselves are NOT TAXED as far as I know-------as far as I know----the GOLD MEDAL is not----solid gold-------

"Also at issue is the levy on bonus money from various national sports sanctioning bodies might pay, plus the value of the medals themselves, which are worth a few hundred dollars tops."

Olympic medals need not come with tax burden, but don't wait for Congress

"the value of the medals"-------???? are you sure?

Why is this so hard for you to believe?

Congrats you won a gold medal. Now here's your tax bill

the tax is on the PRIZE MONEY----not on the little doodad medal----(as far as is my understanding)

It's on both. Your understating is incorrect.


"The athletes’ medals themselves also count as taxable income, but the value of a winning a gold is largely symbolic."


Michael Phelps Could Owe Uncle Sam $55,000 for His Rio Olympic Wins

At this point, if you still don't believe they tax the value of the medal than you're being willfully obtuse.

 

[Wyatt earp]

The values of the medals are taxed as well.

Technically just the metals value, not the ebay value of an Olympic gold, which is increasingly low. I read somewhere the bronze in the bronze medals is largely worthless, and the gold's only have a few hundred dollars worth of gold in them.

I hear a gold medal is worth around $500, a silver is worth around $150 and a bronze is worth around $20

Oh, they are not worth much, but that makes little difference to the tax man.

awarded medals themselves are NOT TAXED as far as I know-------as far as I know----the GOLD MEDAL is not----solid gold-------

"Also at issue is the levy on bonus money from various national sports sanctioning bodies might pay, plus the value of the medals themselves, which are worth a few hundred dollars tops."

Olympic medals need not come with tax burden, but don't wait for Congress

Democrats are the scuzz buckets of the earth..they even have to ruin a world good will games like the Olympics by demanding money at gun point if an athletes gets on the podium.




Michael Phelps Could Owe $55,000 in 'Victory Taxes' for His Rio Olympic Medals


Michael Phelps Could Owe $55,000 in 'Victory Taxes' for His Rio Olympic Medals
Tiare Dunlap 2016-08-16T15:40:00+00:00
For U.S. athletes, winning an Olympic medal comes with pride, glory – and a hefty tax bill.

According to TIME, Michael Phelps could leave Rio owing up to $55,000 in income taxes.

That's because the U.S. Olympic Committee awards prize money to Olympic athletes who medal at the Games – $25,000 for gold, $15,000 for silver and $10,000 for bronze.

These awards, like other prize money (from a lottery jackpot to a Nobel Prize to game show winnings) is taxable income in the eyes of the IRS.

Obama wrote that law?

He has a pen and a phone


This is not his first rodeo...

 

[Soggy in NOLA]

Oh, they are not worth much, but that makes little difference to the tax man.

awarded medals themselves are NOT TAXED as far as I know-------as far as I know----the GOLD MEDAL is not----solid gold-------

"Also at issue is the levy on bonus money from various national sports sanctioning bodies might pay, plus the value of the medals themselves, which are worth a few hundred dollars tops."

Olympic medals need not come with tax burden, but don't wait for Congress

"the value of the medals"-------???? are you sure?

Why is this so hard for you to believe?

Congrats you won a gold medal. Now here's your tax bill

the tax is on the PRIZE MONEY----not on the little doodad medal----(as far as is my understanding)

The medal is just like winning a car on Wheel of Fortune.... it is taxable as far as the value. Uncle Sam wants his cut of everything.

 

[Iceweasel]

Democrats are the scuzz buckets of the earth..they even have to ruin a world good will games like the Olympics by demanding money at gun point if an athletes gets on the podium. Michael Phelps Could Owe $55,000 in 'Victory Taxes' for His Rio Olympic Medals
Michael Phelps Could Owe $55,000 in 'Victory Taxes' for His Rio Olympic Medals
For U.S. athletes, winning an Olympic medal comes with pride, glory – and a hefty tax bill.According to TIME, Michael Phelps could leave Rio owing up to $55,000 in income taxes. That's because the U.S. Olympic Committee awards prize money to Olympic athletes who medal at the Games – $25,000 for gold, $15,000 for silver and $10,000 for bronze. These awards, like other prize money (from a lottery jackpot to a Nobel Prize to game show winnings) is taxable income in the eyes of the IRS.

This was a story four years ago, too. If it's such a problem, why hasn't the Republican Congress put a bill on Obama's desk? It's the same income tax we all pay, except Trump it seems, since he won't let us know. What is he hiding?

obama sign off on a tax cut? Are you high?

 

[Wyatt earp]

awarded medals themselves are NOT TAXED as far as I know-------as far as I know----the GOLD MEDAL is not----solid gold-------

"Also at issue is the levy on bonus money from various national sports sanctioning bodies might pay, plus the value of the medals themselves, which are worth a few hundred dollars tops."

Olympic medals need not come with tax burden, but don't wait for Congress

"the value of the medals"-------???? are you sure?

Why is this so hard for you to believe?

Congrats you won a gold medal. Now here's your tax bill

the tax is on the PRIZE MONEY----not on the little doodad medal----(as far as is my understanding)

The medal is just like winning a car on Wheel of Fortune.... it is taxable as far as the value. Uncle Sam wants his cut of everything.

Is the Olympics God damn wheel of fortune or winning the lottery?

Ask yourself that

If you say yes, then it lost it's meaning.

 

[Soggy in NOLA]

"Also at issue is the levy on bonus money from various national sports sanctioning bodies might pay, plus the value of the medals themselves, which are worth a few hundred dollars tops."

Olympic medals need not come with tax burden, but don't wait for Congress

"the value of the medals"-------???? are you sure?

Why is this so hard for you to believe?

Congrats you won a gold medal. Now here's your tax bill

the tax is on the PRIZE MONEY----not on the little doodad medal----(as far as is my understanding)

The medal is just like winning a car on Wheel of Fortune.... it is taxable as far as the value. Uncle Sam wants his cut of everything.

Is the Olympics God damn wheel of fortune or winning the lottery?

Ask yourself that

If you say yes, then it lost it's meaning.

Uhm, what? I nevefr said I agree with it.

 

[nat4900]

Democrats are the scuzz buckets of the earth..they even have to ruin a world good will games like the Olympics by demanding money at gun point if an athletes gets on the podium.




Michael Phelps Could Owe $55,000 in 'Victory Taxes' for His Rio Olympic Medals


Michael Phelps Could Owe $55,000 in 'Victory Taxes' for His Rio Olympic Medals
Tiare Dunlap 2016-08-16T15:40:00+00:00
For U.S. athletes, winning an Olympic medal comes with pride, glory – and a hefty tax bill.

According to TIME, Michael Phelps could leave Rio owing up to $55,000 in income taxes.

That's because the U.S. Olympic Committee awards prize money to Olympic athletes who medal at the Games – $25,000 for gold, $15,000 for silver and $10,000 for bronze.

These awards, like other prize money (from a lottery jackpot to a Nobel Prize to game show winnings) is taxable income in the eyes of the IRS.

For all right wing morons.........

IRS Is Taxing My Nobel Prize!

Most of us will never win a Nobel Prize, but if we do, it comes with a tax bill. Our old friend the IRS gets a cut of the roughly$1.4 million USD ($10 million Swedish kronor) cash prize. The 2010 winners may not be complaining, but some may be surprised. See Life After Winning a Nobel Prize. Martin Chalfie, won the 2008 Nobel Prize in Chemistry, lamenting that since the Reagan era when the tax code was changed, the IRS collects tax on prizes just like any other income.

IRS Is Taxing My Nobel Prize!

 

[Bruce_T_Laney]

Democrats are the scuzz buckets of the earth..they even have to ruin a world good will games like the Olympics by demanding money at gun point if an athletes gets on the podium.




Michael Phelps Could Owe $55,000 in 'Victory Taxes' for His Rio Olympic Medals


Michael Phelps Could Owe $55,000 in 'Victory Taxes' for His Rio Olympic Medals
Tiare Dunlap 2016-08-16T15:40:00+00:00
For U.S. athletes, winning an Olympic medal comes with pride, glory – and a hefty tax bill.

According to TIME, Michael Phelps could leave Rio owing up to $55,000 in income taxes.

That's because the U.S. Olympic Committee awards prize money to Olympic athletes who medal at the Games – $25,000 for gold, $15,000 for silver and $10,000 for bronze.

These awards, like other prize money (from a lottery jackpot to a Nobel Prize to game show winnings) is taxable income in the eyes of the IRS.

Oblama this, Oblama that..Do you people ever think before you speak..Taxes are the realm of Congress...Not the president..

How dare you write the truth!

President Obama is the problem and when the last Olympics happen did the athletes pay taxes and what about those Olympics when Bush was President and if yes then it make me wonder why the hell are some partisan nutters so hell bent on blaming President Obama for everything?

I mean I bet you many of those that hate President Obama blame him for rainy days!

 

[tyroneweaver]

Great job Simone Manuel...now pay up bitch to Obama's IRS

Assholes

Obama supported Rubio's bill in 2012 that went nowhere. Congress must have been too busy naming post offices to notice.

maybe the irs was to busy going after the tea party

 

[Hutch Starskey]

Democrats are the scuzz buckets of the earth..they even have to ruin a world good will games like the Olympics by demanding money at gun point if an athletes gets on the podium.






Michael Phelps Could Owe $55,000 in 'Victory Taxes' for His Rio Olympic Medals


Michael Phelps Could Owe $55,000 in 'Victory Taxes' for His Rio Olympic Medals
Tiare Dunlap 2016-08-16T15:40:00+00:00
For U.S. athletes, winning an Olympic medal comes with pride, glory – and a hefty tax bill.

According to TIME, Michael Phelps could leave Rio owing up to $55,000 in income taxes.

That's because the U.S. Olympic Committee awards prize money to Olympic athletes who medal at the Games – $25,000 for gold, $15,000 for silver and $10,000 for bronze.

These awards, like other prize money (from a lottery jackpot to a Nobel Prize to game show winnings) is taxable income in the eyes of the IRS.

Of course you wrongly accuse the president and Democrats of something they didn't do.
This isn't an Obama policy, it's been around for a long time.

From 2014:
http://thehill.com/blogs/blog-briefing-room/news/198372-white-house-dont-tax-olympians-on-medals

The White House said Thursday that President Obama still believes American Olympians shouldn’t have to pay income taxes on the medals they win.

“The president believes we should support efforts to ensure that we’re doing everything we can to honor and support our Olympic athletes who have volunteered to represent our nation at the Olympic Games,” White House spokesman Bobby Whithorne told Yahoo News. “We still support this effort.”

Calls Are Growing Louder to End Taxation of U.S. Olympic Medal Winners
Earlier this month, New York Sen. Chuck Schumer called on Congress to pass the proposed bill so President Obama, who also supports Olympic tax relief, can sign it into law.

 

[kaz]

Democrats are the scuzz buckets of the earth..they even have to ruin a world good will games like the Olympics by demanding money at gun point if an athletes gets on the podium.




Michael Phelps Could Owe $55,000 in 'Victory Taxes' for His Rio Olympic Medals


Michael Phelps Could Owe $55,000 in 'Victory Taxes' for His Rio Olympic Medals
Tiare Dunlap 2016-08-16T15:40:00+00:00
For U.S. athletes, winning an Olympic medal comes with pride, glory – and a hefty tax bill.

According to TIME, Michael Phelps could leave Rio owing up to $55,000 in income taxes.

That's because the U.S. Olympic Committee awards prize money to Olympic athletes who medal at the Games – $25,000 for gold, $15,000 for silver and $10,000 for bronze.

These awards, like other prize money (from a lottery jackpot to a Nobel Prize to game show winnings) is taxable income in the eyes of the IRS.

What you said is misleading. You made it sound like they were being taxed for the medals themselves. For sure I oppose our stupid tax system and I want the income tax eliminated entirely, but that's another discussion. In our current system, we ALL get soaked for EVERYTHING. So why would that income not be taxable while the rest of us pay taxes on everything else?

 

[kaz]

Yep. Up to 9k for each gold medal they win.

And libs don't think that is shady at all.

Figures.

The issue I have with this is that we need to reform our tax system. All this discussion is doing is saying hay, let's exempt this one group from the taxes the rest of us pay and feel better and move on then forget the problem across the country. We need a level system across the board. Not more sacred cows