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political August 8th, 2016 7:59pm

Should American Olympians get a tax exemption for medals and prizes they win?

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BamaGirl ROLL TIDE from Arizona
08/08/16 7:56 pm

For the medals...based on our current system

Zod Above Pugetropolis
08/08/16 5:06 pm

The medals themselves, yes. Any other prize or pay should be treated like any other income.

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chickencookie
08/08/16 4:27 pm

I still don't like the idea of pros playing.

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jadeburt Ann Arbor, Michigan
08/08/16 3:19 pm

You should definitely propose this as a bill in the VC.

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political Georgia
08/08/16 8:03 pm

You can. I try not to for the purpose of honoring Separation of Powers. ☺️

PyroSadist like my comments follow
08/08/16 1:31 pm

Actually if you want to talk about the precious metals value of an Olympic gold medal or silver metal it is damn near nothing... the value of the precious metals in a gold medal is under $1,000...I don't begrudge them getting that tax-exempt. As for any prizes I did not say that amateur Olympic athletes were actually eligible any prizes

chinito Florida
08/08/16 1:24 pm

Olympians are competing for their country. They shouldn't be taxed for the medal the won.

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swjboucher Just Run
08/08/16 1:22 pm

There should be NO tax on the medals at all.

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gow488 Wisconsin
08/08/16 1:08 pm

No. I'm not a big fan of tax deductions.

political Georgia
08/08/16 1:14 pm

Me neither if we had a flat tax. Unfortunately, we have a progressive tax system that taxes us way too much. I'm all for more deductions and exemptions so people can keep more of their own money. The government sure can't spend money wisely.

Brandon2018 Stocks Are Overvalued
08/08/16 1:04 pm

Prizes shouldn't be taxed in the first place. Now that is theft.

political Georgia
08/08/16 1:05 pm

Our government will tax oxygen in my life time.

political Georgia
08/08/16 1:01 pm

In an ideal world, I would support a flat tax with no tax deductions, but in reality, I support deductions in the tax system that we have.

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political Georgia
08/08/16 1:02 pm

Exemption rather than deduction*

ComradeJames nationalism
08/08/16 1:10 pm

With a flat tax, how are poor people supposed to be able to make a name for themselves? They'd be doomed to a life of poverty, as would their grandchildren and great-grandchildren.

political Georgia
08/08/16 1:13 pm

Oh please! They would pay the same tax rate as everyone else. I thought that you were all for equality?

ComradeJames nationalism
08/08/16 1:18 pm

Say a poor person makes $15K a year and a rich person makes $250K a year. They are each forced to pay 10% of their income to government for defense, social programs, etc. The rich person ends the year with $225K. The poor person ends the year with $13.5K. Is that really equality?

political Georgia
08/08/16 1:22 pm

Absolutely! The two people are paying the government the same percentage. That's completely fair.

ComradeJames nationalism
08/08/16 1:27 pm

You're saying that a person making $13.5K a year is financially equal to a person making $225 a year? That's pretty ridiculous. Which one is more likely to be able to pay for food and rent?
*(Hint: if you can answer with certainty, the two people are not financially equal to one another.)

political Georgia
08/08/16 1:30 pm

You just don't like it that we don't all have the same income. You would much rather penalize wealth.

Nemacyst Registered Text Offender
08/08/16 2:15 pm

Notice the obviously communist name "Hammer and Sickle" if he wanted people to work hard to get ahead his name would be "Hammer and Nail"

ComradeJames nationalism
08/08/16 2:18 pm

Ad hominems truly are a beautiful thing.

Tell me this: if a poor man is forced to sell his labour for the entirety of his life to earn but the meek means of sustinence, and a rich man inherits tens of millions of dollars and never has to work a day in his life, does that seem fair? Whether or not you wish to accept it, it's virtually impossible to "get ahead in the game".

Nemacyst Registered Text Offender
08/08/16 2:21 pm

If I have millions of dollars, who are you to tell me that I can't give it to my children? Hmmmmm?

ComradeJames nationalism
08/08/16 3:02 pm

That's not what I said. But I don't consider a millionaire and a humble worker to be economically equal, do you?

Nemacyst Registered Text Offender
08/08/16 4:09 pm

They are not, but now you're saying that I can't give my money to my kids because it makes them economically unequal.

MrMilkdud Pref pronouns Thou Thee
08/08/16 5:05 pm

Most flat tax proposals have either a minimum income cutoff or a tax prebate to address exactly the problem you're worried about, hammer.
Does that change your mind?

Liberty Lets Use Logic
08/09/16 5:12 am

If you think 10% is too high, then the government should spend less and lower the tax.

Nemacyst Registered Text Offender
08/08/16 1:01 pm

Last I checked, it's income earned in another country not subject to taxation...

TheCameron UCF
08/08/16 3:33 pm

Pretty sure you have to pay a tax on it when you bring it into the country.

Nemacyst Registered Text Offender
08/08/16 4:08 pm

Nope. I earned over 80k in Afghanistan one year... Earned income out of the country. Never paid a dime on it.

TheCameron UCF
08/08/16 4:27 pm

I'm specifically referring to the medals, I don't know about the income.

SOHJesus Amarillo
08/09/16 4:04 am

You have to pay taxes on income made in other countries unless it's earned in a tax free zone.