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Rubio bill would make Olympic prize money tax-exempt

Discussion in 'Political Debate & Discussion' started by freeatlast, Aug 1, 2012.

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  1. targus

    targus New Member

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    And of course payroll taxes are again confused with income taxes. :rolleyes:

    And the confusion is deliberate on the part of those who want to deny that almost half don't pay their "fair share" because they simply pay no income taxes.
     
    #21 targus, Aug 3, 2012
  2. InTheLight

    InTheLight Well-Known Member
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    The chart on the Heritage web page ends in 2009, the peak of the economic problems. I wonder what the percent would be in 2012?

    In 2011 it was 46.5%.

    About 46 percent of American households will pay no federal individual income tax in 2011...
    http://www.taxpolicycenter.org/UploadedPDF/1001547-Why-No-Income-Tax.pdf

    I suspect next year when the 2012 numbers come out it will have decreased further towards 40%, which is about where it was before the recession started.
     
    #22 InTheLight, Aug 3, 2012
  3. mandym

    mandym New Member

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    Even if that is right what point do you think you have made? If you are simply trying to be altruistic then you are just being silly.
     
    #23 mandym, Aug 3, 2012
  4. InTheLight

    InTheLight Well-Known Member
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    The point is accuracy. "50% of people don't pay any taxes" is just flat out wrong, when the reality is more like 40% of wage earners don't pay any income taxes. If it gets repeated enough people believe it.
     
    #24 InTheLight, Aug 3, 2012
  5. mandym

    mandym New Member

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    Ok the difference makes little to no difference and regardless if it is 40 or 50 the point is made equally. Altruism often works more to muddy waters that it helps.
     
    #25 mandym, Aug 3, 2012
  6. InTheLight

    InTheLight Well-Known Member
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    25% is little to no difference? :BangHead:
     
    #26 InTheLight, Aug 3, 2012
  7. mandym

    mandym New Member

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    that's right given the context. 40% of the country not paying income tax is an extreme level. And by the way the difference is 10 not 25.:tonofbricks:
     
    #27 mandym, Aug 3, 2012
  8. freeatlast

    freeatlast New Member

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    I agree. It should be a wage tax just like if someone wins at the horse track. Keep in mind only the winners pay the tax and that is how it should be. If you do not remember the time past was that no money could change hands for Olympic games. Now a years wage for some is being given. Soon it will be very large amounts and is for some through endorsements. They need to pay the tax as it is a wage. It is not a gift. They did something and earned a wage, PAY THE TAX!
     
    #28 freeatlast, Aug 3, 2012
  9. mandym

    mandym New Member

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    They should pay nothing
     
    #29 mandym, Aug 3, 2012
  10. freeatlast

    freeatlast New Member

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    Truth hurts those who try and hide from it. Every person who has a wage should be paying an income tax with no exceptions. We all should pay the same rate with no deductions.
     
    #30 freeatlast, Aug 3, 2012
  11. mandym

    mandym New Member

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    Actually I thought, for some reason, I was commenting on the Olympic winners not every day taxes. My mistake.
     
    #31 mandym, Aug 3, 2012
  12. freeatlast

    freeatlast New Member

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    That is what I was speaking about. They made a wage, pay the tax.
     
    #32 freeatlast, Aug 3, 2012
  13. mandym

    mandym New Member

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    Sorry, it does not meet the definition of a wage. They should pay nothing.
     
    #33 mandym, Aug 3, 2012
  14. freeatlast

    freeatlast New Member

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    If a tip is a wage then so is this.
     
    #34 freeatlast, Aug 3, 2012
    Last edited by a moderator: Aug 3, 2012
  15. mandym

    mandym New Member

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    No its not. Apples and refrigerators.
     
    #35 mandym, Aug 3, 2012
  16. freeatlast

    freeatlast New Member

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    A tip is not a wage? You might wan to let the IRS know about this as they have been collecting taxes on tips for years.
     
    #36 freeatlast, Aug 3, 2012
  17. mandym

    mandym New Member

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    An award at the Olympics is not a tip. A tip is given for services rendered. An ward is a prize given for a competition.. Two completely different things.
     
    #37 mandym, Aug 3, 2012
  18. freeatlast

    freeatlast New Member

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    At the horse races is competition and the winner pays taxes. The same is required here and is proper. If they do not want to pay taxes then lose.
     
    #38 freeatlast, Aug 3, 2012
  19. mandym

    mandym New Member

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    If you believe that the Olympic winners shoould pay taxes on their winning then that is your deal. But I disagree with it and your comparisons are just plain wrong. An equal comparison can only be made here if we are talking about those who bet on the outcome of the Olympics.

    The Olympic winners do not make a living on their winning like those who race horses do. They put a lot of their own money into it long before they win an award. For this reason I support Rubio's bill.

    Nothing you have said is equal in comparison.
     
    #39 mandym, Aug 3, 2012
  20. freeatlast

    freeatlast New Member

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    The USOC - United States Olympic Committee - which is a private entity separate from the US Gov't - pays athletes for medals - $25,000 for gold, $15,000 for silver and $10,000 for bronze. Some athletes are invited to train at the US Olympic training facility run by the USOC and all expenses are paid, but the athlete must adhere to a strict training schedule and rules of the facility.
    http://wiki.answers.com/Q/Does_the_United_States_pay_their_Olympic_athletes#ixzz22W2TqENn
    They need to pay taxes on their pay.
     
    #40 freeatlast, Aug 3, 2012
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