An example of just how screwed up taxes can be...Football fact!

[Quantum Windbag]

While I have no interest in professional football, I do care about taxes. An example of just how screwed up taxes can be...this time involving the state of New Jersey:

If the Denver Broncos loose the Superbowl and their quarterback, Payton Manning, continues to play the 2014 season, he will pay New Jersey $46,844 on his $46,000, which amounts to a 101.83% tax on his actual Super Bowl earnings in the state—and this does not even consider federal taxes!

That's right, the state of NJ may impose a 101% tax rate on a person's income. How screwed up is that?!

New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings - Forbes

That's a bitch.

Think he'll lose his apartment because of it?

BTW...STATES RIGHTS, remember?!

Remember how STATES RIGHTS is going to liberate us all from the tyranny of the FEDERAL GOVERNMENT?

idiots

Funny, I thought individual rights trumped the government if you are a liberal.

I guess you are proof I was wrong.

 

[Quantum Windbag]

Yeah because Peyton is only earning $46K a game.

And another Leftist misses the point. Why am I not surprised.

Yes or no...do you think it acceptable that a state would CHARGE someone, anyone, for the right to labor in that state?

Yes or no?

The first thing you need to do is fix your math.

Then you should realize your question is irrelevant.

If you still think you have a point then do some more research on how state taxation works for athletes.

What, exactly, is wrong with the math?

 

[Quantum Windbag]

Brother Eli has played his entire career in NJ and I doubt if he pays 101% in taxes

Maybe Peyton needs a better accountant

As a NJ resident, I seriously doubt if we will see any of his money

Eli plays plenty of games outside of NJ so he pays taxes in those other states just like how teams visiting NJ pay taxes to NJ.

If more of Manning's salary is being apportioned to NJ then less of it is being apportioned to the other states he has played.

Damn, you almost sound like you know what you are talking about.

Question for you, since the Broncos are not paying Peyton for the Super Bowl, (the pay for the winners and losers comes from the NFL) why does New Jersey get to tax him on earnings from a different employer for work he doesn't actually do inside the sate?

 

[Quantum Windbag]

While I have no interest in professional football, I do care about taxes. An example of just how screwed up taxes can be...this time involving the state of New Jersey:

If the Denver Broncos loose the Superbowl and their quarterback, Payton Manning, continues to play the 2014 season, he will pay New Jersey $46,844 on his $46,000, which amounts to a 101.83% tax on his actual Super Bowl earnings in the state—and this does not even consider federal taxes!

That's right, the state of NJ may impose a 101% tax rate on a person's income. How screwed up is that?!

New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings - Forbes

Come on now! Didn't you know that there is income "inequailty" in this country. For every dollar Manning makes, some poor soul isn't getting a dollar because wealth is finite and there is only so much of it to go around. It isn't "fair" that he has too much and someone else has too little. The only right thing to do is take some of it away thru taxes and pass it on to the other 99%. Get with the program! It's like you didn't listen to the SOTU address at all.

Actually his salary is inflated by government subsidization of stadiums.

Actually, it isn't. All that money goes to team owners, not players.

 

[Quantum Windbag]

Come on now! Didn't you know that there is income "inequailty" in this country. For every dollar Manning makes, some poor soul isn't getting a dollar because wealth is finite and there is only so much of it to go around. It isn't "fair" that he has too much and someone else has too little. The only right thing to do is take some of it away thru taxes and pass it on to the other 99%. Get with the program! It's like you didn't listen to the SOTU address at all.

Actually his salary is inflated by government subsidization of stadiums.

Any idea of the financial benefit to area businesses and the resulting tax revenue a city/state takes in when they have a major league sports stadium?

None.

 

[Quantum Windbag]

Then by all means, enlighten us. Show us where Forbes got the math wrong.

Peyton gets paid more than $40K per game. I already said this.

WTF?

Except for the fact that he doesn't get paid more because the paycheck for the Super Bowl is not part of his fucking contract, idiot.

 

[Quantum Windbag]

Peyton gets paid more than $40K per game. I already said this.

WTF?

Do you not understand how players get paid for the playoffs? They don't get paid under their standard contracts. They get paid bonuses for each game, based on whether they win or lose. If the Broncos lose the Superbowl then Peyton will be paid $46,000 for the game. If they win, then he will be paid $92,000 for the game.

This is not a complicated concept.

He also signed a contract to play the season which includes playoffs. It is almost as if completely ignoring that contract screws up the math.

This isn't hard math.

The contract for the season does not include the playoffs. If it did, everyone, even the teams that don't go to the payoffs, would get paid for them. They are bonuses that are paid by the NFL to the players based solely in winning, or losing, the game. The only way they get paid more is there are additional bonuses wirtten into their contract.

Super Bowl 2014: Bonuses, Trademark Rights And Brand Value: What?s Really At Stake For The Players And The NFL?

 

[Quantum Windbag]

Shitstain....so he has to pay New Jersey MORE FUCKING MONEY than he earns in the Super Bowl????

That is before the Feds steal some of his paycheck.....burn in hell scumbag.

Yeah because Peyton is only earning $46K a game.

He earned a lot of money by agreeing to play in the Super Bowl.

Tell me how much, exactly, and provide proof, or shut the fuck up.

 

[Bombur]

Then by all means, enlighten us. Show us where Forbes got the math wrong.

Peyton gets paid more than $40K per game. I already said this.

WTF?

Except for the fact that he doesn't get paid more because the paycheck for the Super Bowl is not part of his fucking contract, idiot.

LOL that is hilarious.

 

[Bombur]

Shitstain....so he has to pay New Jersey MORE FUCKING MONEY than he earns in the Super Bowl????

That is before the Feds steal some of his paycheck.....burn in hell scumbag.

He earned a lot of money by agreeing to play in the Super Bowl.

Tell me how much, exactly, and provide proof, or shut the fuck up.

Do you need proof that Manning makes a lot of money to play for the Broncos or do you think playing in the Super Bowl wasn't part of his contract?

Either way

 

[Bombur]

Ahhhh. The refuge of the intellectual moron – go Google it yourself…

IOW, prove my point for me because I can’t.

He still has yet to even articulate his actual point. I don’t see why he thinks that others should prove a point for him that he can’t even make in full.

His salary doesn't really matter because everyone knows even without google that he is getting paid a lot more than $46K a game or whatever the number from the article was.

WHACK, WHACK, WHACK, WHACK! You getting this yet? WHACK, WHACK, WHACK, WHACK, WHACK, WHACK, WHACK, WHACK, WHACK, WHACK, WHACK, WHACK, WHACK, WHACK, WHACK, WHACK, WHACK, WHACK! How about now? Playoff shares have nothing to do with a player's regular-season salary! Is this getting through that thick skull yet?

ROFLMAO

Are you morons in Jr high or something? If I am laughing at little kids I would feel bad.

This thread is great because I get to meet the idiots.

 

[Quantum Windbag]

Peyton gets paid more than $40K per game. I already said this.

WTF?

Except for the fact that he doesn't get paid more because the paycheck for the Super Bowl is not part of his fucking contract, idiot.

LOL that is hilarious.

Do you always find truth hilarious, or does it only happen as a way to avoid admitting you are wrong?

 

[Quantum Windbag]

He earned a lot of money by agreeing to play in the Super Bowl.

Tell me how much, exactly, and provide proof, or shut the fuck up.

Do you need proof that Manning makes a lot of money to play for the Broncos or do you think playing in the Super Bowl wasn't part of his contract?

Either way

I know for a fact that the Super Bowl wasn't part of his contract.

 

[Bombur]

tell me how much, exactly, and provide proof, or shut the fuck up.

do you need proof that manning makes a lot of money to play for the broncos or do you think playing in the super bowl wasn't part of his contract?

Either way

i know for a fact that the super bowl wasn't part of his contract.

roflmao!

 

[SwimExpert]

You know, it would have been better if you simply had admitted that you had been mistaken. You would have saved alot of face. But now, you are officially on the list of idiots like Rdean, Truthmatters, and National Socialist.


Agent's Take: A guide to NFL postseason pay - CBSSports.com

Peyton Manning will see a big reduction in his per-game pay in the playoffs.

Compensation for players in the playoffs is much different than it is during the regular season. Playoff money comes from a league pool instead of from NFL teams. There is a specific amount for each playoff round where each eligible player gets paid the same.

Most players take a significant paycut in the playoffs because their salaries have no bearing on what they make in the postseason. Players typically receive their entire salary over the course of the 17-week regular season. For example, Peyton Manning made almost $900,000 per week during the regular season from his $15 million base salary but will receive $23,000 for the Denver Broncos' divisional playoff game, just like the rest of his teammates.

 

[Bombur]

You know, it would have been better if you simply had admitted that you had been mistaken. You would have saved alot of face. But now, you are officially on the list of idiots like Rdean, Truthmatters, and National Socialist.


Agent's Take: A guide to NFL postseason pay - CBSSports.com

Peyton Manning will see a big reduction in his per-game pay in the playoffs.

Compensation for players in the playoffs is much different than it is during the regular season. Playoff money comes from a league pool instead of from NFL teams. There is a specific amount for each playoff round where each eligible player gets paid the same.

Most players take a significant paycut in the playoffs because their salaries have no bearing on what they make in the postseason. Players typically receive their entire salary over the course of the 17-week regular season. For example, Peyton Manning made almost $900,000 per week during the regular season from his $15 million base salary but will receive $23,000 for the Denver Broncos' divisional playoff game, just like the rest of his teammates.

LOL

It is like you are trying to confuse yourself.

The contracts are written to ensure that the player is going to play in them but the player won't risk much of their compensation based on making it to the game.

None of this really matters because from the standpoint of the state of NJ they have someone getting paid a big salary and working a certain number of days in their state. Bonuses tied to the work in NJ are totally irrelevant.

 

[kwc57]

Actually his salary is inflated by government subsidization of stadiums.

Any idea of the financial benefit to area businesses and the resulting tax revenue a city/state takes in when they have a major league sports stadium?

None.

I typically agree with you about 99.9% of the time, but we'll have to agree to disagree on this. The Thunder play 2 blocks away from my office. I have to "escape" downtown on games which isn't easy for all of the folks coming in for the game.

Thunder economic impact estimate tops $64 million for the current season. | News OK

 

[Toro]

I thought this was a thread about how the NFL is a "nonprofit" entity.

But NJ's tax is pretty retarded.

Yet another reason to have the Super Bowl in Florida!

 

[Quantum Windbag]

Any idea of the financial benefit to area businesses and the resulting tax revenue a city/state takes in when they have a major league sports stadium?

None.

I typically agree with you about 99.9% of the time, but we'll have to agree to disagree on this. The Thunder play 2 blocks away from my office. I have to "escape" downtown on games which isn't easy for all of the folks coming in for the game.

Thunder economic impact estimate tops $64 million for the current season. | News OK

Ever hear of the broken window fallacy? You know the one, where spending to fix broken windows supposedly stimulates the economy, but it is actually just redirecting spending that would have been better if it went to something else? Stadiums work the same way.

Why Cities Subsidize Sports

The economic rationale for cities' willingness to subsidize sports facilities is revealed in the campaign slogan for a new stadium for the San Francisco 49ers: "Build the Stadium—Create the Jobs!" Proponents claim that sports facilities improve the local economy in four ways. First, building the facility creates construction jobs. Second, people who attend games or work for the team generate new spending in the community, expanding local employment. Third, a team attracts tourists and companies to the host city, further increasing local spending and jobs. Finally, all this new spending has a "multiplier effect" as increased local income causes still more new spending and job creation. Advocates argue that new stadiums spur so much economic growth that they are self-financing: subsidies are offset by revenues from ticket taxes, sales taxes on concessions and other spending outside the stadium, and property tax increases arising from the stadium's economic impact.


Unfortunately, these arguments contain bad economic reasoning that leads to overstatement of the benefits of stadiums. Economic growth takes place when a community's resources—people, capital investments, and natural resources like land—become more productive. Increased productivity can arise in two ways: from economically beneficial specialization by the community for the purpose of trading with other regions or from local value added that is higher than other uses of local workers, land, and investments. Building a stadium is good for the local economy only if a stadium is the most productive way to make capital investments and use its workers.

Sports, Jobs, & Taxes: Are New Stadiums Worth the Cost? | Brookings Institution

 

[Bombur]

The NFL is not going to stop playing the game. There is zero reason subsidize a massively profitable business from the national perspective. Local governments tend to do it because it gets politicians elected.