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No wonder Phil was pissed..... https://mail.chicagofanatics.com/viewtopic.php?f=47&t=80625 |
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Author: | badrogue17 [ Mon Jul 22, 2013 7:58 pm ] |
Post subject: | No wonder Phil was pissed..... |
About the crazy income tax. Now obviously he doesn't need the hat passed for him and Im sure he's tax sheltered up the wazoo but this is pretty crazy taxation. From Forbes online.... Here was phil michelson wing the british open in dramatic fashion, a huge win for him but not a big financial windfall. there's a guy who needs supply side tax reform. here's why. take a look at this. the prize is 2.2 million. scottish taxes take 44% right off the top. michelson does get a credit for that on his u.s. tax form and california where he lives and pay taxes has no exemption so he owes another 13.3% and is left with $842,000, keeps 39% and the tax man gets 61% and that's after expenses for his caddy and michelson may only keep 30 cents on the dollar. this is unbelievable. once you pay off the caddy, michelson may have only taken 30%. less than that because the uk is going to take a bite out of his endorsement income |
Author: | Rod [ Mon Jul 22, 2013 8:06 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
He. doesn't. need. your. prayers. Send money! |
Author: | Nas [ Mon Jul 22, 2013 8:10 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
Find a different job or place to call home. He's doing great. |
Author: | badrogue17 [ Mon Jul 22, 2013 8:11 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
Joe Orr Road Rod wrote: He. doesn't. need. your. prayers. Send money! Wouldn't he fall under the really.smart.guy. moniker though? |
Author: | Rod [ Mon Jul 22, 2013 8:14 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
badrogue17 wrote: Joe Orr Road Rod wrote: He. doesn't. need. your. prayers. Send money! Wouldn't he fall under the really.smart.guy. moniker though? I don't believe so. We've got to work on your Jewdar. |
Author: | Chus [ Mon Jul 22, 2013 8:30 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
I read that Mickelson's net worth is about $180 million. He is fine. |
Author: | badrogue17 [ Mon Jul 22, 2013 8:34 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
Again Im not saying he's headed for the poorhouse but I think getting taxed at 66% is a little excessive |
Author: | Nas [ Mon Jul 22, 2013 8:41 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
I can't feel sorry for a guy who netted more in a weekend what most Americans will gross in the next 15 years. |
Author: | Elmhurst Steve [ Mon Jul 22, 2013 10:10 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
Nobody should be taxed at a rate of 66%. That's what happens when the government hands out money to pay for subsidized housing, food stamps and welfare, with no time restrictions to the recipients getting these hand outs. For every dollar given to someone, a dollar is taken from another. It's gotten ridiculous and Phil has good reason to complain about it. |
Author: | badrogue17 [ Mon Jul 22, 2013 10:13 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
To be fair I doubt most Americans could make 4 birdies coming down the stretch at Muirfield to earn that money either. I don't care if the purse were 10 million, getting taxed at a 2/3 rate is a little ridiculous. Mickelson didn't complain about this particular deal either but he did mention leaving California a couple a couple months back to escape their state tax rate hence the thread title |
Author: | spmack [ Mon Jul 22, 2013 10:21 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
Nas wrote: Find a different job or place to call home. He's doing great. Agreed. |
Author: | Don Tiny [ Mon Jul 22, 2013 10:25 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
Chus wrote: I read that Mickelson's net worth is about $180 million. He is fine. Nah, it's the principle of the matter .... nobody needs to be preposterously taxed in that fashion .... it's a stinking crock of shit regardless or one's financial worth. |
Author: | Terry's Peeps [ Mon Jul 22, 2013 10:27 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
"Henry, last fall, every time your boss got on the stump and said, "It's time for the rich to pay their fair share," I hid under a couch and changed my name. I left Gage Whitney making $400,000 a year, which means I paid 27 times the national average in income tax. I paid my fair share, and the fair share of 26 other people. And I'm happy to, 'cause that's the only way it's gonna work. And it's in my best interest that everybody be able to go to schools and drive on roads. But I don't get 27 votes on Election Day. The fire department doesn't come to my house 27 times faster and the water doesn't come out of my faucet 27 times hotter. The top one percent of wage earners in this country pay for 22 percent of this country. Let's not call them names while they're doing it, is all I'm saying." |
Author: | Terry's Peeps [ Mon Jul 22, 2013 10:33 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
Q.Bovifs wrote: I came away from reading that thinking: Who wrote that nonsensical blurb, a fucking fifth-grader who just snorted a few lines of crushed Smarties(TM)? |
Author: | Spaulding [ Mon Jul 22, 2013 10:39 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
Nas wrote: I can't feel sorry for a guy who netted more in a weekend what most Americans will gross in the next 15 years. Do you feel that is a classist statement? |
Author: | SpiralStairs [ Mon Jul 22, 2013 10:39 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
Take it up with Scotland. |
Author: | Rod [ Mon Jul 22, 2013 11:07 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
Terry's Peeps wrote: "Henry, last fall, every time your boss got on the stump and said, "It's time for the rich to pay their fair share," I hid under a couch and changed my name. I left Gage Whitney making $400,000 a year, which means I paid 27 times the national average in income tax. I paid my fair share, and the fair share of 26 other people. And I'm happy to, 'cause that's the only way it's gonna work. And it's in my best interest that everybody be able to go to schools and drive on roads. But I don't get 27 votes on Election Day. The fire department doesn't come to my house 27 times faster and the water doesn't come out of my faucet 27 times hotter. The top one percent of wage earners in this country pay for 22 percent of this country. Let's not call them names while they're doing it, is all I'm saying." "We do not propose to say that there shall be no rich men. We do not ask to divide the wealth. We only propose that, when one man gets more than he and his children and children's children can spend or use in their lifetimes, that then we shall say that such person has his share. That means that a few million dollars is the limit to what any one man can own." |
Author: | Nas [ Mon Jul 22, 2013 11:14 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
Spaulding wrote: Nas wrote: I can't feel sorry for a guy who netted more in a weekend what most Americans will gross in the next 15 years. Do you feel that is a classist statement? My emotions are limited. I choose not to waste them on everything. I'm more concerned about the single mother making $36k that is losing nearly 2/3 of her income to various taxes and fees. When she buys a case of water for $5 or less she still has to pay $1.2 tax for it. Who does that hurt more Phil or the single mother making $36k? |
Author: | newper [ Mon Jul 22, 2013 11:21 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
SI has him at 57 million in endorsement money in 2012, so I really don't mind that he gets taxed at 66%. If he doesn't like it, he can gladly move to Florida or other non-income based taxation states. And I would think winning a major will open up a few more million in endorsement deals, so it will probably be a bigger number next year. Rich people like this don't need common folk worrying for them; they pay their economic advisers to do that. |
Author: | Nas [ Mon Jul 22, 2013 11:25 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
Q.Bovifs wrote: Nas wrote: Spaulding wrote: Nas wrote: I can't feel sorry for a guy who netted more in a weekend what most Americans will gross in the next 15 years. Do you feel that is a classist statement? My emotions are limited. I choose not to waste them on everything. I'm more concerned about the single mother making $36k that is losing nearly 2/3 of her income to various taxes and fees. When she buys a case of water for $5 or less she still has to pay $1.2 tax for it. Who does that hurt more Phil or the single mother making $36k? Yeah, but if she keeps herself in shape and keeps the cooking skills tight, she'll still have a pretty good shot at marrying a rich guy. She ain't out of the game yet. It all depends on how you look at things: are you gonna be a wallower, a survivor, or a thriver? It's all up to each of us to decide, and nobody else. Yes she can hold fast to her dreams. |
Author: | Spaulding [ Mon Jul 22, 2013 11:33 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
The net effect is the same on both though. They both pay $1.20. If you want to argue $1.20 is to high, fine. I don't know if it could be set up for better tax breaks if you donated to charity or fund a program like you were talking about the other day. I think things would be better off if they were privately run also. I think classism and racism go hand in hand. Neither are acceptable because it causes the division that leads to bigger issues. It's a slippery slope, what's too much money? One of the hardest things for my family growing up was being told we can't help you, Father Spaulding makes too much money. And now sexism...we are going to hit them all this week. |
Author: | Spaulding [ Mon Jul 22, 2013 11:50 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
Yes, I'm sure that would be a wise decision. |
Author: | KDdidit [ Mon Jul 22, 2013 11:52 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
Nobody should make that much money for playing golf, so it's sounds like a good compromise. |
Author: | Spaulding [ Mon Jul 22, 2013 11:54 pm ] |
Post subject: | Re: No wonder Phil was pissed..... |
Why not? Shouldn't you make what people are willing to pay? If your company gave you a raise would you say oh thanks no? I can't make that much money for what I'm doing. |
Author: | Nas [ Tue Jul 23, 2013 12:25 am ] |
Post subject: | Re: No wonder Phil was pissed..... |
Spaulding wrote: The net effect is the same on both though. They both pay $1.20. If you want to argue $1.20 is to high, fine. I don't know if it could be set up for better tax breaks if you donated to charity or fund a program like you were talking about the other day. I think things would be better off if they were privately run also. I think classism and racism go hand in hand. Neither are acceptable because it causes the division that leads to bigger issues. It's a slippery slope, what's too much money? One of the hardest things for my family growing up was being told we can't help you, Father Spaulding makes too much money. And now sexism...we are going to hit them all this week. It's not the same effect. The single mother would feel the sting of the sometimes 50% water tax far more than a guy making $20M a year would. We can act like it is the same but it isn't. Let me be clear I am happy for anyone that finds a way to become rich. I don't hate them or dislike them at all. That being said I'm not going to worry about the taxes of a guy who has the luxury to be able to live in another state and keep 2/3 of his money but chooses not to. Let's be honest most lower middle class and middle class people hate the poor. Somehow they've been led to believe that they steal more than the rich or that they're somehow holding them back. Very few people hate the rich because they want to be them but most hate the poor. I tend to agree with it being private and like the tax break idea as long as it isn't abused. |
Author: | Spaulding [ Tue Jul 23, 2013 12:41 am ] |
Post subject: | Re: No wonder Phil was pissed..... |
I wouldn't say the middle class hates the poor. I don't think the middle class fully understands them always, which begets animosity at times. They see their money going out with no real positive results, meanwhile the middle class struggles. It's not the same struggle but there is a struggle. The middle class has little voice or power in the process but are penalized more because they don't have a ton. They donate, are socially aware, and pretty in touch with people. I'd bet the most religious, cultural, and racial diversity is found in the middle class. I think if we all worried about each other we'd be better off. Don't ask of others what you wouldn't ask of yourself type of thing. |
Author: | Rod [ Tue Jul 23, 2013 6:29 am ] |
Post subject: | Re: No wonder Phil was pissed..... |
Nas wrote: Let's be honest most lower middle class and middle class people hate the poor. Somehow they've been led to believe that they steal more than the rich or that they're somehow holding them back. Very few people hate the rich because they want to be them but most hate the poor. Yep. Why would anyone endorse a system that rewards a few at the expense of the many? It would be one thing if we had a truly free marketplace of ideas where ingenuity and hard work were valued and rewarded, but that just isn't the case, Cronyism is what's rewarded with the wealthy few making and enforcing laws to reinforce their position at the top. We pretend we value "hard work", but that obviously isn't really the case. If so, the answer to "how much money is too much?" is very simple: when hard work is no longer necessary. |
Author: | Gloopan Kuratz [ Tue Jul 23, 2013 6:31 am ] |
Post subject: | Re: No wonder Phil was pissed..... |
No wonder Phil can't afford a personal trainer. |
Author: | denisdman [ Tue Jul 23, 2013 7:51 am ] |
Post subject: | Re: No wonder Phil was pissed..... |
Anyone trying to justify that level of taxation is off their rocker. It is the confiscation of someone's property. While taxes are necessary to pay for the public good, it is outrageous to take that percentage of someone's earnings. I don't care if someone gets money from a crony job, wins the lottery, or works his butt off practicing and handling the pressure of the British Open, the impact is the same. It's not like the money is going to some great cause. It gets flushed into the big waste hole that is the Federal (and Scottish in this case) and California governments. |
Author: | rogers park bryan [ Tue Jul 23, 2013 8:01 am ] |
Post subject: | Re: No wonder Phil was pissed..... |
denisdman wrote: Anyone trying to justify that level of taxation is off their rocker. It is the confiscation of someone's property. While taxes are necessary to pay for the public good, it is outrageous to take that percentage of someone's earnings. I don't care if someone gets money from a crony job, wins the lottery, or works his butt off practicing and handling the pressure of the British Open, the impact is the same. It's not like the money is going to some great cause. It gets flushed into the big waste hole that is the Federal (and Scottish in this case) and California governments. I believe there are European countries with taxation like this. |
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