Phil Mickelson talks about his taxes

The guy pays 62% in taxes and is contemplating moving out of California.

http://bleacherreport.com/articles/1...nges?hpt=hp_t4

He made 47 million last year, which would have left him 18 million.

I do not care if someone makes 35k/year or 35 million I do not agree with taxing higher income at higher rates and just using "assumption of ones finances" as justification.


I say cut the spending or rape the middle with the government bill until the middle class wants nothing to do with the government.

Keep working harder!!!

Millions on welfare are depending on you

Yowza


Not that I'm doubting him, but I would love to see the breakdown of his taxes.

If I was him I'd move.

Originally Posted by bimmerfan08

If I was him I'd move.

It may not make that big of an impact. If I'm remembering correctly athletes (or anyone really) have to pay state taxes in every city and state where they have earned money for the year.

Originally Posted by evolved

Yowza


Not that I'm doubting him, but I would love to see the breakdown of his taxes.

So would I.

Not that there's EVER more to the story. . .

Originally Posted by evolved

Yowza


Not that I'm doubting him, but I would love to see the breakdown of his taxes.

I am doubting him. While I agree that people DO pay more in taxes than their tax bracket (after you pay income/FICA/...., you pay state /local tax and taxes on every purchase and every bill, plus the myriad of car / house / life taxes), it would take a tax rate of far above his stated "average tax rate" for him to get to 62%. Like taxing all post-federal money at 80% or so.

Whatever. I am sure it is a lot. He pays more in taxes/year than I'll make in 2 decades. So yeah, I think he probably pays his fair share. How are we going to get a middle class again? Serious. I wish people would stop pointing fingers and discuss how to get a few hundred million jobs in the USA making an average income of $75k. How can we do it? FYI, I don't have any good ideas.

Poor man, struggling along on but $18 million a year, please give me a moment to daub the tears from my eyes.

Someone really needs to start a new meme: "1%ers Problems."

In truth, this guy needs to fire his accountant if the fool can't avail himself of all the obscure tax dodges, shelters, havens and loopholes to pay a more Romney'esque 15%.

Originally Posted by Rhumb

Poor man, struggling along on but $18 million a year, please give me a moment to daub the tears from my eyes.

Someone really needs to start a new meme: "1%ers Problems."

In truth, this guy needs to fire his accountant if the fool can't avail himself of all the obscure tax dodges, shelters, havens and loopholes to pay a more Romney'esque 15%.

If he's EARNED 60 million why should he walk away with 18? Is that fair in your eyes?

Originally Posted by Act of God

If he's EARNED 60 million why should he walk away with 18? Is that fair in your eyes?

Because that is the way our tax system works. It is a shame. If only the world was fair.

Originally Posted by Rhumb

Poor man, struggling along on but $18 million a year, please give me a moment to daub the tears from my eyes.

Someone really needs to start a new meme: "1%ers Problems."

In truth, this guy needs to fire his accountant if the fool can't avail himself of all the obscure tax dodges, shelters, havens and loopholes to pay a more Romney'esque 15%.

And millions of starving people in 3rd world counties are looking at you making 50,000 a year saying "poor poor man, struggling on 50K a year, let me dab my eyes"

How would you feel if your 50K turned into 18K?

Fair huh?

Originally Posted by JonJon

And millions of starving people in 3rd world counties are looking at you making 50,000 a year saying "poor poor man, struggling on 50K a year, let me dab my eyes"

How would you feel if your 50K turned into 18K?

Fair huh?

lol...the world isn't fair JonJon.

Living in America (or anywhere within the developed world) off 18k is different than living off 18 million.

Originally Posted by badfast

lol...the world isn't fair JonJon.

Living in America (or anywhere within the developed world) off 18k is different than living off 18 million.

Ooooooooooo Kay

Millions living in poverty in the USA then...

Originally Posted by JonJon

Ooooooooooo Kay

Millions living in poverty in the USA then...

Certainly depends on the number of members in the household. Educate yourself girlfriend!

https://www.census.gov/hhes/www/pove...hld/index.html

You go on and keep punishing successful people

You can take all the wealth from all the wealthy... Won't make a dent in our debt

The fact that ANYONE who considers themselves politically savvy finds it hard to believe that Mickelsons taxes would be north of 60%.... well that tells me there are lot of people who THINK they are savvy on the subject.

That said, I have a good buddy who played with Phil last year... the subject of Obamacare came up and NO JOKE, Phil said that he personally suggested to Obama that healthcare be approached as follows... for those who chose to NOT have it, they paid double at the pump. Yep, you read that right. Mickelson's solution to healthcare was to double the cost per gallon on americans who opted out of healthcare. I was told he was very nice and friendly.. and he shot a 67 "without even marking his ball or looking over putts".. but he's no genius..

39.6% top marginal rate. 10.3% top rate in California, most likely going to 13.3%. That's 52.9%. The only way it gets to 60% is if he owns a **** ton of real estate.

Originally Posted by rapier7

39.6% top marginal rate. 10.3% top rate in California, most likely going to 13.3%. That's 52.9%. The only way it gets to 60% is if he owns a **** ton of real estate.

depending on your side venture, there are additional taxes on that. IE my parents restaurant last year had at least 10 incremental taxes instated over the last decade (ie... small business out here in california... usage tax, payroll tax, forecasted sales tax, health tax, waste disposal tax, etc...)

most people out here that complain about business owners or "wealthy elites" not being taxed enough can't even fathom that those taxes exist

Originally Posted by JonJon

And millions of starving people in 3rd world counties are looking at you making 50,000 a year saying "poor poor man, struggling on 50K a year, let me dab my eyes"

How would you feel if your 50K turned into 18K?

Fair huh?

It's all relative to the cost of living. Using percentages in this way is a very skewed way of looking at it. No one needs $18 mil to survive and live comfortably, let alone $58 mil

Also, winnings on the golf course or via sponsorship may have very different taxation. For example, in MD and VA, salary, commission, and bonuses are all treated entirely different. I could be earning didly squat and would still get hammered on bonus and commission checks. I wouldn't be surprised if his purses and sponsorship dollars are treated differently.