Coke
08/09/12 8:22 pm
No! It's the Olympics for Christ sakes!! PLUS, the money is not earned in this country.
08/08/12 12:31 am
Absolutely. Competitions in Olympic events are as vital to a country's international persona as its military. Since we pay our military, shouldn't we "pay" our cheerleaders too?
monkees19 New Jersey
08/07/12 10:15 pm
Professional baseball players aren't exempt, football, soccer, basketball players aren't exempt, why should Olympic athletes? They're getting paid to play just like the pros.
Perot4Prez
08/07/12 10:05 pm
@zjm: Everyone else isn't paying Federal Income Tax.
Almost 1/2 the population pays NO Federal income tax. I commend your sentiment. I just wanted to point out how 1/2 the country doesn't even pay a share... Let alone their fair share.
Perot4Prez
08/07/12 1:39 pm
Any member of Congress that votes for legislation that provides an exemption for Olympic athletes is part of problem. Income is income. Special exemptions is why the tax code is jacked up.
If you want to be patriotic, read the names of the athletes into the Congressional record.
kube
08/06/12 5:42 pm
If they are getting paid, doesn't that make them professionals?
Not sure why it could ever be exempt. It's "prize money" or a "gift" and should be treated as such....
dadstad Texas
08/06/12 5:13 am
I can only imagine the tax deductions these athletes would have. With a good accountant their final tax liability could be minimal.
ntvtxn62
08/05/12 11:19 am
Oops- I meant to say NO! That sob & most democrats would tax the air you breathe if they could ( not the air they breathe though- they think of themselves as gods).
Cragaleus2
08/04/12 11:24 pm
It is ridiculous that it is legal to tax people on earnings they've not made in this country. No other country taxes it's citizens on money they've made over-seas.
kytoaltoky
08/04/12 10:20 pm
Why wouldn't you tax them? If you won a bronze medal and had no other income, you wouldn't pay a dime anyway. If you win gold, chances are you can deduct trainer's fees as a job expense. Who's gonna argue! But if you're LeBron, and you just made over $50 million, hell yeah we're taxing that!
roybiker12
08/04/12 8:24 pm
It would be most fair & create the most jobs if we lowered tax rates & did away with all deductions. No one is favored, no one is penalized. No deductions for mortgages, charity but lower rates.
NotQuiteWhite Earth
08/04/12 8:07 pm
Your Lotto winnings get taxed. They should sure as hell be taxed. Everyone should pay an equal percentage for every dollar made, especially if they didn't work for it!!
ufgator48
08/04/12 8:03 pm
Always finding a reason to treat people differently is why we have nearly half the population not paying any taxes. Why is their income differ than mine? I served the country in the navy and paid taxes.
I do agree we should have a flat tax and EVERYONE should pay, no exceptions!
m4man
08/04/12 6:45 pm
College students pay taxes on scholarships, so yes on reward money. We should not tax the value of their medals, however.
08/04/12 6:15 pm
The government needs to keep their grimy hand off of their money
dancemom
08/04/12 4:47 pm
With below said, the endorsement $ they get should be taxed. That would be more like an actual paid job.
dancemom
08/04/12 4:44 pm
If an Olympic athlete isn't a paid professional at their sport, they shouldn't pay taxes on it because essentially they are losing money paying someone to train them and then paying taxes on a meager prize compared to what they or their parents have paid for their training to represent OUR country!
jedigdi
08/04/12 4:02 pm
Everyone pays tax on income, that's how it works. If it worked like that more often, we might all pay less.
s1201cm2 Reno, NV
08/04/12 2:51 pm
They are not paid for their work. If yet finish fourth they do not get paid. Yes, our bonuses are taxed, but you get paid just for showing up, they do not. Let them be awarded for it without taxing them.
MasterMatt Oregon
08/04/12 2:47 pm
Because "they earned" it right? I hate all income tax! Taxes are outrageous. Nobody should ever have to give more than 10% of what the earn to the GOV.
DamageInc California
08/04/12 2:20 pm
Ufgator48 you are wrong, they do tax the medals too, that's one of the reasons the new bill has been introduced.
I say don't tax Olympic earnings, there will be plenty of tax money to collect from their endorsements.
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