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Discussion Starter #1
If you won a gold medal in the Olympics for the USA you need to pay tax on the value of the gold.... They were making some 16 or 17 year olds pay almost 16000 in taxes...
 

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If you won a gold medal in the Olympics for the USA you need to pay tax on the value of the gold.... They were making some 16 or 17 year olds pay almost 16000 in taxes...
Is the freaking medal even worth that much? That would have to be like 40-50lbs in gold wouldn't it? To be taxed that high?

Edit: I'm way off, but if I did my math right this time that would be like close to 10lbs of colid gold to be taxed that high. Do they really weigh that much?
 

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They actually get a cash honorarium for winning a medal. I can't remember exact amounts but it's something like $25k for a gold medal, $15k for silver, $10k for bronze. They pay taxes on that income.
 

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They actually get a cash honorarium for winning a medal. I can't remember exact amounts but it's something like $25k for a gold medal, $15k for silver, $10k for bronze. They pay taxes on that income.
Lol so they tax the medal for 16K so that kid only gets 9 grand to take home for a lifetime of training and prep, good job USA, but of course the illegals are tax free and so are their illegitimate children, this country sure has it's priorities set.
 

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Discussion Starter #6
They actually get a cash honorarium for winning a medal. I can't remember exact amounts but it's something like $25k for a gold medal, $15k for silver, $10k for bronze. They pay taxes on that income.
From what I read they pay the taxes on that AND the value of the medal.
 

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Yea, so if that is their value there is no way in hell they could tax one for 16K dollars, plus they ****ing won it, leave them alone, that'd be like giving a soldier a Medal of Honor and withholding a paycheck for "taxes" on that medal.

I hope they really don't tax them 16K on a 600 dollar medal, wouldn't really surprise me though.
 

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Yea, so if that is their value there is no way in hell they could tax one for 16K dollars, plus they ****ing won it, leave them alone, that'd be like giving a soldier a Medal of Honor and withholding a paycheck for "taxes" on that medal.

I hope they really don't tax them 16K on a 600 dollar medal, wouldn't really surprise me though.
That's just what I read in an article. I need to find it. I was reading it from my phone.
 

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That's just what I read in an article. I need to find it. I was reading it from my phone.
They must be taxing something else too then, I mean, how do they legally get away with taxing an Olympic medal at more then 20 times its value?
 

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They must be taxing something else too then, I mean, how do they legally get away with taxing an Olympic medal at more then 20 times its value?
the same way they "legally" get away with taxing anything else at 20 times its value.... they're the government.
 

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the same way they "legally" get away with taxing anything else at 20 times its value.... they're the government.
Reason number 4,254,345,754,320,560,347,564,234,532 of why we need a new one.....
 

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'Merica!
 

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That number looks an awful lot like the amount of debt Obama put us in....
Yea but I rounded down about 9 decimal points too, you know, to the nearest comprehensible number.
 

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Sorry, didn't read the whole thread. In addition to the medal that's worth a couple hundred bucks, they get $25K. So hell yeah. I got to pay close to 50% on my bonus, why not the Olympians? We're the 1% afterall....
 

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Sorry, didn't read the whole thread. In addition to the medal that's worth a couple hundred bucks, they get $25K. So hell yeah. I got to pay close to 50% on my bonus, why not the Olympians? We're the 1% afterall....
If the tax is on the 25000 then that means they only keep 36% of their income. 64% tax rate is harsh even if you are stinky rich I say.
 

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If the tax is on the 25000 then that means they only keep 36% of their income. 64% tax rate is harsh even if you are stinky rich I say.
The article I read said they owed 35%. Of course that's the federal rate, not counting what NYS (or whatever state takes out). Hey, what's good for the goose is good for the gander...
 

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The article I read said they owed 35%. Of course that's the federal rate, not counting what NYS (or whatever state takes out). Hey, what's good for the goose is good for the gander...
If they followed that saying politicians would pay taxes and no one would be complaining right now lol

well at least if they keep this up we will eventually have free energy for the entire USA. I'm pretty sure if they hooked a crankshaft to the craniums of all our founding fathers the spinning could power quite a few large turbines.
 

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Discussion Starter #20
If they followed that saying politicians would pay taxes and no one would be complaining right now lol

well at least if they keep this up we will eventually have free energy for the entire USA. I'm pretty sure if they hooked a crankshaft to the craniums of all our founding fathers the spinning could power quite a few large turbines.
I'd rather it power every firearm/ammunition manufacturer.
 
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