Win Olympic Gold, Pay the IRS U.S. up to $9,000

[Quantum Windbag]

Why should it not be taxed?

The Athletes are representing the US in the Olympics.
The cost of the travel and training I hope is deductible so that it will be a wash.

Wonder what tax Obama paid on his unearned Nobel Peace Prize?

We pay for all their travel and expenses. Same as any team athlete anywhere.

We who? Are you a supporter of the USOC? I know I don't, so keep me out of your we.

 

[Quantum Windbag]

Sometimes I get confused, I'm not sure if Americans worship money or sports the most? But when the two collide and taxes are noted you're in for a real tragicomedy. I'm not sure if the wingnuts of the right think money grows on trees or not, but Americans pay for the Olympics, and there is no reason they should not be taxed on their earnings (?) just like every other American.

"One of the things he talks about most is how he heroically showed up on the scene and bailed out and resolved the problems of the Salt Lake City Olympic Games," Rick Santorum, now a Romney supporter, said in February when he opposed Romney for the GOP nomination. "He heroically bailed out the Salt Lake City Olympic Games by heroically going to Congress and asking them for tens of millions of dollars to bail out the Salt Lake Games — in an earmark." The Associated Press: Romney resume from 2002 in focus amid Olympic rift

http://www.usmessageboard.com/current-events/237456-the-modern-american-olympics.html
.

Another post that has nothing to do with the actual discussion. One of these days you will surprise me with the ability to actually read.

 

[Quantum Windbag]

Sometimes I get confused, I'm not sure if Americans worship money or sports the most? But when the two collide and taxes are noted you're in for a real tragicomedy. I'm not sure if the wingnuts of the right think money grows on trees or not, but Americans pay for the Olympics, and there is no reason they should not be taxed on their earnings (?) just like every other American.

"One of the things he talks about most is how he heroically showed up on the scene and bailed out and resolved the problems of the Salt Lake City Olympic Games," Rick Santorum, now a Romney supporter, said in February when he opposed Romney for the GOP nomination. "He heroically bailed out the Salt Lake City Olympic Games by heroically going to Congress and asking them for tens of millions of dollars to bail out the Salt Lake Games — in an earmark." The Associated Press: Romney resume from 2002 in focus amid Olympic rift

http://www.usmessageboard.com/current-events/237456-the-modern-american-olympics.html
.

$$$ yes, medals no.

The IRS does require anyone who wins a medal to pay taxes on the value they assign to it.

 

[Politico]

Why should it not be taxed?

The better question is, why should it?

Because it's income.

 

[RoadVirus]

Why should it not be taxed?

Oh i don't know. Maybe because they worked so hard for it, maybe Uncle Sam should keep his f-ing greedy mittens off their reward.

Uncle sam backs their training every step of the way and they certainly would not be able to get the level of training or opportunities to train without the support from our government so no they did not do it all on their own.

"You did not build that", the Olympics version? Obama would be so proud of you.

 

[BlindBoo]

When did they start paying cash to metal winners?

Why should that cash not be considered income?

 

[BlindBoo]

Sen. Rubio: Don’t ‘Punish’ US Olympians with Taxes on Medals and Prize Money - ABC News

The Internal Revenue Code of 1986.

Hmm....

I wonder who signed that into law?

Who was president in 1986, Frank?

The guy who defeated the USSR: Ronald W. Reagan

So Ronald Reagan was the guy who decided that Olympians should be punished for success.

Why did Ronald Reagan hate success and American exceptionalism so much that he felt that Olympians should be punished for winning?

Give the Gipper a break. He probably didn't remember what he was signing like he didn't remember allowing his minions to sell weapons to Iran and send the profits to the Costa Rica based terrorist whom he was supporting.

LOL Here we have the conzz again cracking spuriously on Obama for a Raygun era tax increase......



Good Job!

 

[Quantum Windbag]

Why should it not be taxed?

The better question is, why should it?

Because it's income.

I guess you missed the entire point of the question, so let me rephrase for the less astute.

Why should income be taxed?

 

[Moonglow]

The better question is, why should it?

Because it's income.

I guess you missed the entire point of the question, so let me rephrase for the less astute.

Why should income be taxed?

So we don't have to save your house when it's on fire, ofcourse it is better to let it burn to the ground, if not, the insurance guy will not pay you for what is not burned.

 

[Quantum Windbag]

Because it's income.

I guess you missed the entire point of the question, so let me rephrase for the less astute.

Why should income be taxed?

So we don't have to save your house when it's on fire, ofcourse it is better to let it burn to the ground, if not, the insurance guy will not pay you for what is not burned.

Fire service is included in property and sales taxes, not income tax. Nice strawman though.

 

[Gadawg73]

The cash they earn is taxable.
The value of the gold is not taxable.

 

[Gadawg73]

If taxing the olympic athletes was signed into law by the president, it was likely buried in a thick ream of tax code changes like all the other crap the left hides. They almost succeeded in hiding gun control in some unrelated bit of legislation recently.

My ass. How many assistants does a President have to read every word of everything put in front of him?
No cry babies.

 

[Gadawg73]

Sen. Rubio: Don’t ‘Punish’ US Olympians with Taxes on Medals and Prize Money - ABC News

The Internal Revenue Code of 1986.

Hmm....

I wonder who signed that into law?

Who was president in 1986, Frank?

The guy who defeated the USSR: Ronald W. Reagan

So Ronald Reagan was the guy who decided that Olympians should be punished for success.

Why did Ronald Reagan hate success and American exceptionalism so much that he felt that Olympians should be punished for winning?

It would be Democrats that sponsored and introduced the damn bill.
We know they hate success and American exceptionalism.

 

[Politico]

Speaking of Strawmen. Sorry Quantum. I didn't realize you were going Soverign on us.

 

[Quantum Windbag]

The cash they earn is taxable.
The value of the gold is not taxable.

Why don't you tell the IRS they cannot charge you on the value of a medal you won. They are trying to collect taxes on a statue of a bald eagle that is, quite literally, worthless.

 

[Quantum Windbag]

Speaking of Strawmen. Sorry Quantum. I didn't realize you were going Soverign on us.

That is a perfect example of a straw man, all I am asking is why anyone should pay taxes on income. Believe it or not, a lot of economists from both sides of the aisle actually wonder the same thing. In the future you should pull your head out of your ass before addressing me.

http://www.usmessageboard.com/politics/235809-6-policies-economists-love-and-politicians-hate.html

 

[Politico]

This isn't an income tax/constitution debate. So yes bringing it up is a strawman soverign tactic.