Phil Mickelson talks about his taxes

Originally Posted by JonJon

Keep working harder!!!

Millions on welfare are depending on you

Only 4% of people on welfare are completely dependent on it.

Originally Posted by WheyArea

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

and no one needs to drive a BMW with all the economy cars and public transportation out here... yet here we are

Originally Posted by kaboo0m

and no one needs to drive a BMW with all the economy cars and public transportation out here... yet here we are

Yeah, this totally makes sense and is apples to apples......

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?

Those people will never see it in that light until it happens to them. "Until then, keep taxing those who make more than me!"

Originally Posted by JonJon

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

Ahh yes. With only 18 million left Phil has been stripped from all his wealth. Mission accomplished.

California has a high state income tax. I myself am hesitant to relocate to San Diego despite the fact I already pay 5% income tax and 9.25% sales tax.

If Phil is truly worried about taxes, he can ditch California and move to Oklahoma or Arkansas.

Again, it's not just CA taxes.....he earned money in multiple states and therefore owes taxes in multiple states. His tax return is probably 500+ pages long.

But think of the money he'll save by relocating.

He'll get to keep more of the millions he gets paid to play with balls.

Originally Posted by evolved

Again, it's not just CA taxes.....he earned money in multiple states and therefore owns taxes in multiple states. His tax return is probably 500+ pages long.

This is true.

I am not sure how the sponsor $$$ work though they are probably several times his actual winnings on tour and subject to CA tax which is hefty.

I have a buddy who does taxes for some other pro golfers and a few basketball players. He has mentioned that their returns are a nightmare due to all the locations they play. I will ask him about the sponsor bucks.

Originally Posted by RHLP3

This is true.

I am not sure how the sponsor $$$ work though they are probably several times his actual winnings on tour and subject to CA tax which is hefty.

I have a buddy who does taxes for some other pro golfers and a few basketball players. He has mentioned that their returns are a nightmare due to all the locations they play. I will ask him about the sponsor bucks.

it is 100% true, total nightmare.

Originally Posted by evolved

Again, it's not just CA taxes.....he earned money in multiple states and therefore owes taxes in multiple states. His tax return is probably 500+ pages long.

Like you said earlier, I would like to see his returns because everything on our end is pure speculation. I can only believe what Forbes says and they claim he would take home 18 of 47 million. I'm sure dude has a decent accountant .

Originally Posted by Green_Shine

Like you said earlier, I would like to see his returns because everything on our end is pure speculation. I can only believe what Forbes says and they claim he would take home 18 of 47 million. I'm sure dude has a decent accountant .

Just because you have a "decent" accountant doesn't mean you can't end up paying a bunch of money in taxes. It all depends on how you earn that money and how you spend it.

You could have the best accountant in the world but if you just squirreled all your money into a bank account, then your effective tax rate is going to be pretty high.

Originally Posted by casino is no lie

California has a high state income tax. I myself am hesitant to relocate to San Diego despite the fact I already pay 5% income tax and 9.25% sales tax.

Chicago's taxes are ridiculous.

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?

Netting $18M on $60M gross, probably not, hence my last comment (the dude needs a better accountant, IMHO, perhaps he could hire Romney's).

However, I have a hard time getting all broke up over anyone raking in a cool $18M regardless of however much they earned gross. Shoot fire, I'd drop down to my knees and thank the high heavens to make that much my entire life rather than whine and pout about how unfair it was I didn't some even greater amount. I'd be much more concerned about the many more poor souls making but $18K a year if I was going to worry about anything. Again, new meme: 1%ers Problems, or perhaps, 0.1%ers Problems.

I mean the guy makes a lot no doubt, but the pay your fair share motto..would the same individuals be muttering if they were in his position? I think not. He makes that much, I don't, so yeah pay more it's fair because I'm not the one who has money. Never liked that mentality.

California is a sweet place to live, but we sure do pay for it..

Originally Posted by Breezy

California is a sweet place to live, but we sure do pay for it..

There are, of course, the low-tax, red-state paradises of, say, Louisianna or Mississippi. Actually, if you are very rich, you can pretty much wall yourself off from the rabble in some gated enclave and live nicely regardless of which state you live in (which is why so many rich people really don't give much of a whit about social programs and services as they don't avail themselves of directly and thus represent a waste/drain of money to them personally.)

Originally Posted by WheyArea

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

No one needs a BMW when there are 1987 Ford Fiestas still on the road.
You gonna trade yours in today?

Originally Posted by zander271

Only 4% of people on welfare are completely dependent on it.

If you took a poll of the ones on welfare, it would probably come back as 100% of them feel they absolutely need it.

Originally Posted by Green_Shine

Those people will never see it in that light until it happens to them. "Until then, keep taxing those who make more than me!"

dingdingding

That is why they all live here.

Practice all year.

No State Income Tax.