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

[my2¢]

Republicans created the IRS.

 

[Wyatt earp]

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!

Irrelevant

Who has been president for almost 8 years?

Btw who controlled congress when Reagan started to tax?

 

[konradv]

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

Why don't they try? Sounds like a political win-win. Apparently there are bills up for a vote, but this nothing new.

 

[konradv]

Yep. Up to 9k for each gold medal they win. And libs don't think that is shady at all.

What's shady about it? It's tax law. What's shady is complaining about it every four years, but the Republican-controlled Congress not doing anything about it. It's like the want to complain, but don't want Obama to get any good press for signing it. THAT'S shady.

 

[P@triot]

Because liberalism is just socialism rebranded. And socialism (liberalism) is unsustainable. As the "Iron Lady" Margaret Thatcher astutely noted - "the problem with liberalism is that eventually you run out of other people's money".

We're $19 trillion in debt thanks to liberalism (over $9 trillion of which occurred under Barack Obama alone). So now they have to tax the hell out of everything. And even that's not close to being enough. Liberals will collapse the U.S. within the next decade (most likely within the next two years) and then of course they will attempt to blame it on capitalism.

 

[P@triot]

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

Why don't they try? Sounds like a political win-win. Apparently there are bills up for a vote, but this nothing new.

It would be a political win-win if we could mutually agree with libtards to divide up the U.S. and go our separate ways. That way, you idiots could collapse your country as you'd like and turn it into to Cuba, while us conservatives could rebuild our nation in the the elite super-power that it once was.

 

[Flash]

income is income-----read the manual-----even if you steal money ----THAT is income too-----or if you win the church raffle

Why the hell do we even need to tax income?

The fucking Federal government spends more money every year than the GDP of all but three other countries on the face of the earth and that is not enough so we are in debt $20 trillion.

The problem is not that we don't tax enough or that we tax Olympic medals it is that the friggin Federal government is too big, too wasteful and spends far too much money.

 

[nat4900]

We're $19 trillion in debt thanks to liberalism (over $9 trillion of which occurred under Barack Obama alone).

It is morons like Patio who either lie or are too ignorant to acknowledge the truth......

GWB placed the was cost on a credit card, for Obama to later inherit
GWB place Medicare DIS-advantage on a credit card, for Obama to later inherit
GWB had 3/4 of a million MONTHLY job losses, and left it to Obama to fix the downward spiral...

Need more facts, Patio???

 

[P@triot]

We're $19 trillion in debt thanks to liberalism (over $9 trillion of which occurred under Barack Obama alone).

GWB placed the was cost on a credit card, for Obama to later inherit

Nobody does ignorance quite like nat4900. It doesn't work that way cupcake. All of the U.S. debt is fully accounted for each year and under each president. Obama didn't "inherit" any debt from George W. Bush beyond the $10 trillion that the national debt stood at the day that Barack Obama was sworn in (that takes into account all bonds sold, all interest on the bonds, etc.). The over $9 trillion that Obama accumulated with his reckless socialism is squarely on his shoulders alone.

 

[konradv]

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

Why don't they try? Sounds like a political win-win. Apparently there are bills up for a vote, but this nothing new.

It would be a political win-win if we could mutually agree with libtards to divide up the U.S. and go our separate ways. That way, you idiots could collapse your country as you'd like and turn it into to Cuba, while us conservatives could rebuild our nation in the the elite super-power that it once was.

If that's what you want to talk about, start a thread instead of deflecting from the topic of this one. Whining about a problem that could have been fixed years ago, if the Republican Congress wanted to, is disingenuous.

 

[Hutch Starskey]

We're $19 trillion in debt thanks to liberalism (over $9 trillion of which occurred under Barack Obama alone).

GWB placed the was cost on a credit card, for Obama to later inherit

Nobody does ignorance quite like nat4900. It doesn't work that way cupcake. All of the U.S. debt is fully accounted for each year and under each president. Obama didn't "inherit" any debt from George W. Bush beyond the $10 trillion that the national debt stood at the day that Barack Obama was sworn in (that takes into account all bonds sold, all interest on the bonds, etc.). The over $9 trillion that Obama accumulated with his reckless socialism is squarely on his shoulders alone.

So no interest accrues on the debt once a president leaves office?

 

[nat4900]

So no interest accrues on the debt once a president leaves office?

Yes.....it's like.........'magic".........LOL

 

[Avatar4321]

I'm pretty sure this tax existed before Obama.

How do they tax income made overseas?

 

[P@triot]

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

Why don't they try? Sounds like a political win-win. Apparently there are bills up for a vote, but this nothing new.

It would be a political win-win if we could mutually agree with libtards to divide up the U.S. and go our separate ways. That way, you idiots could collapse your country as you'd like and turn it into to Cuba, while us conservatives could rebuild our nation in the the elite super-power that it once was.

If that's what you want to talk about, start a thread instead of deflecting from the topic of this one. Whining about a problem that could have been fixed years ago, if the Republican Congress wanted to, is disingenuous.

How am I "deflecting" when seceding is exactly what this topic/thread is about and my post was in response to you talking about "dividing up the U.S.". Man alive are you liberals incapable of following along...

 

[P@triot]

We're $19 trillion in debt thanks to liberalism (over $9 trillion of which occurred under Barack Obama alone).

GWB placed the was cost on a credit card, for Obama to later inherit

Nobody does ignorance quite like nat4900. It doesn't work that way cupcake. All of the U.S. debt is fully accounted for each year and under each president. Obama didn't "inherit" any debt from George W. Bush beyond the $10 trillion that the national debt stood at the day that Barack Obama was sworn in (that takes into account all bonds sold, all interest on the bonds, etc.). The over $9 trillion that Obama accumulated with his reckless socialism is squarely on his shoulders alone.

So no interest accrues on the debt once a president leaves office?

The interest is accounted for at the time the president accumulates the debt you idiot.

 

[P@triot]

So no interest accrues on the debt once a president leaves office?

Yes.....it's like.........'magic".........LOL

The interest is accounted for at the time the president accumulates the debt you idiot.

Otherwise, Obama didn't inherit Bush's debt - Bush inherited all of the money Clinton put on the credit card (most of which was for personal use with those scum bags). See how stupid you sound right now?

 

[jillian]

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.

this is why no one listens to Obama deranged rightwingnuts

it's the prize money that's taxed bubbalah....not the medals.

"Olympic athletes who bring home medals also bring home cash — $25,000 for gold, $15,000 for silver and $10,000 for bronze — paid for by the United States Olympic Committee. Like any prize winner, from a jackpot hitter to a Nobel Prize recipient, the athletes are taxed because Olympic medals and cash bonuses are considered income, said Steven Gill, associate professor of accounting at San Diego State University"

Uncle Sam goes for gold, too: Up to $9,900 per Olympic gold medal

this is how Olympic athletes earn money (this and sponsorships and endorsements). their income is taxed like your income is taxed.

now say..."oh... thanks. I didn't realize that" and back away from the computer.

 

[g5000]

The dems aren't going to let a dollar slip by without taking their cut. It's what they do.

Income is still income

Even for athletes. If a cop, fireman or nurse pays taxes on what they earn, why shouldn't an athlete?

Exactly.

 

[ShaklesOfBigGov]

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..

All government spending and tax rate changes goes before the president's desk for approval. Why would Hillary and Obama make the claim they have the ability to promise to save taxes for the middle class and make the rich pay for it?

 

[ShaklesOfBigGov]

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.

Don't forget, Democrats support taxing you when your dead. So now you can't even work hard and leave a sizable inheritance, based on your own wise sacrificing financial decisions, to leave a better way of life for your kids to enjoy. Even farmers get screwed in leaving the land they worked hard to preserve for the next generation, because all that land they pass on to their kids the government wants a piece of. However, I'm sure they will try to justify and blame all this death tax on the rich. However, as we see by the sizable national debt, the rich are generally a lot better in managing their own financial books than the Democrat government leaders do in managing our national debt. Why else do the Democrats have to ask them for a "bail out" of their financial mess from even more government programs and wasteful spending?