Should Olympic Medal Winners Have To Pay Their IRS? Tom says Yes! (AUDIO)

3 Comments

1. 

   Shellie

   August 2, 2012 at 4:48 pm

   If it is considered INCOME tax, then the taxable amount should be based on their annual income, and taxed at that rate, not 35%. If the $25,000 is their only income, than the tax rate would be a lot lower than 35%. It would be like a 1099 addition, right? But 35% is way too much. And no tax on the metal should be charged. (That's RIDICULOUS!)
2. 

   Brent Garzelli

   August 2, 2012 at 4:48 pm

   On two occasions, my wife and I served as missionaries overseas. We did not have to pay taxes on any foreign earned income. Since the Olympics are in Great Britain, why do athletes have to pay taxes on income, no matter what form-metals or checks? Or is this just another way for the Obama administration to set a precedent to tax all foreign earned income?
3. 

   Gail

   August 2, 2012 at 5:15 pm

   I think this whole discussion of whether olympic athletes should pay taxes is so indicative of the biggest problem we have in this country. Everyone wants to be the good guy. No one wants to say no. Every time someone talks about a specific situation where someone has to pay everyone, especially politians, want to feel good about themselves and be nice and exempt them. But, like you said, what about everyone else? These athletes made a choice, and I am very glad they did, but they made the choice and the choice has pros and cons and they need to take the pros and cons. They went into it with their eyes open and still made the choice. I am a big flag waver and a big fan of athletes as well as our military. But our country is about people being able to make choices about what they do with their skills and passions. But we can't rescue everyone from the cons just to make ourselves feel good.