Another (probable) consequence of higher taxes
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Another (probable) consequence of higher taxes
Posted by Quidam65 on 1/21 at 12:04 pm
Native Californian Phil Mickelson thinking about getting out:

LINK /

Personally I would love for him to come to Texas. But Florida makes more sense as he can work on his golf game year round.


This post was edited on 1/21 at 12:06 pm

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Posted by Quidam65 on 1/21 at 1:39 pm to Quidam65
bump


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Posted by BugAC on 1/21 at 1:42 pm to Quidam65
Que the liberal response "Well...he doesn't NEED 63% of his income."

And when you ask them, what happens when the wealthy leave, and your tax well runs dry, they reply with, "that will never happen".

California and New York. Great bastions of liberalism gone awry.



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Posted by jamboybarry on 1/21 at 1:45 pm to Quidam65
Pretty sure figjam owns a home in Scottsdale so wouldn't be surprised to see him base there.



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Posted by BugAC on 1/21 at 1:50 pm to BugAC
quote:

Mickelson, who was also second on the list in 2011, earned $3.7 million in winnings and $57 million in endorsements last year — for a staggering total of $60,763,488.


Mickelson earns $60,763,488.
Mickelson pays $36,458,092.80 in taxes.
Mickelson takes home $24,305,395.2

In what world should the government deserve 63% of your earnings? And why? What did the government do, to earn 63% of phil's earnings?



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Posted by Tigerstudent08 on 1/21 at 1:52 pm to BugAC
I don't care how much someone makes, the government should never be able to take more than half of your income! That's insane!! So he works for the government for 8 months out the year!


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Posted by lsuroadie on 1/21 at 2:25 pm to BugAC
quote:

Que the liberal response "Well...he doesn't NEED 63% of his income."




libs won't post in this thread,it's got too much truth and fact laid out for them.



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Posted by lsu13lsu on 1/21 at 2:37 pm to BugAC
quote:

Mickelson earns $60,763,488.
Mickelson pays $36,458,092.80 in taxes.
Mickelson takes home $24,305,395.2





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Posted by SHough610 on 1/21 at 2:52 pm to lsuroadie
I'm a liberal and that's ridiculous. I'm not a fan of economic purists on either end. I don't think taxes should ever be above 50% of income.


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Posted by kywildcatfanone on 1/30 at 1:16 pm to SHough610
Athletes leaving

Is Lefty's stance on California's tax hikes a sign of things to come for millionaire athletes?

The Golden State's new 13.3 percent income tax on top earners prompted golfer Phil Mickelson to say earlier this month he was considering a move, and according to the accountants who advise millionaire athletes, he was just saying what a lot of jocks were already thinking. Federal taxes on the top income bracket just rose by roughly 5 percent, and, while there's nothing rich athletes can do about that, they are paying attention to which states dip into their game checks — and how much they take.

“They’re going to have an exodus of people,” said John Karaffa, president of ProSport CPA, a Virginia-based firm that represents nearly 300 professional athletes, primarily in basketball and football. “I think they’ll see some [leave California] for sure. They were already a very high tax state and it’s getting to a point where folks have to make a business decision as well as a lifestyle decision.”




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Posted by Powerman on 1/30 at 1:38 pm to BugAC
quote:

Mickelson earns $60,763,488.
Mickelson pays $36,458,092.80 in taxes.
Mickelson takes home $24,305,395.2

If you believe that, then you're completely ignorant.

Granted the taxes in CA are high but even if 100% of his income was taxed at the highest marginal rates, he wouldn't pay 63% of his taxes.

How do you people fall for this nonsense every time?



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Posted by Powerman on 1/30 at 1:45 pm to Tigerstudent08
quote:

I don't care how much someone makes, the government should never be able to take more than half of your income!

I agree

I guess it's convenient then, that it didn't happen.

I don't care what your political beliefs are. But if you're dumb enough to fall for this sort of sensational claim, then you shouldn't be on the poli board.



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Posted by nobodytooimportant on 1/30 at 1:54 pm to Powerman
quote:

If you believe that, then you're completely ignorant.

Granted the taxes in CA are high but even if 100% of his income was taxed at the highest marginal rates, he wouldn't pay 63% of his taxes.

How do you people fall for this nonsense every time?

Because that would require logic, and logic is in short supply.

There is no way that he could have paid over 50% in taxes and that is assuming he doesn't have accountants who can find deductions.



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Posted by BBONDS25 on 1/30 at 1:58 pm to Powerman
At what income level do the top rates kick in pman? Let's do the math.


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Posted by BBONDS25 on 1/30 at 2:02 pm to nobodytooimportant
Of course there will be deductions. The logic failure is that you are ok with a large portion starting at 63 percent. That's the complaint. Deductions don't change if he is in california or florida. It isn't a difficult concept otto.


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Posted by nobodytooimportant on 1/30 at 2:02 pm to BBONDS25
quote:

At what income level do the top rates kick in pman? Let's do the math.


I doubt you can really figure his taxes because many states will charge you taxes for income earned in that state. Depending on which tournaments he made money in last year, he probably paid to all sorts of different states.



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Posted by Powerman on 1/30 at 2:06 pm to BBONDS25
quote:

At what income level do the top rates kick in pman? Let's do the math.



I did the math assuming that he was paying top rates on 100% of the income and it concluded that the poli board is in fact as stupid as I claim it is.

See below



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Posted by Powerman on 1/30 at 2:08 pm to nobodytooimportant
quote:



I doubt you can really figure his taxes because many states will charge you taxes for income earned in that state. Depending on which tournaments he made money in last year, he probably paid to all sorts of different states.


Right

And since CA has one of the highest, let's just use my calculations as a baseline for the insanity of anyone believing the 63% figure at even a cursory glance.



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Posted by Powerman on 1/30 at 2:10 pm to BBONDS25
quote:

The logic failure is that you are ok with a large portion starting at 63 percent.

But it doesn't start at 63%

And I have just proven that out. Worst case scenario with literally 0 deductions and him paying the top marginal rate on 100% of the income yields a 45% effective tax rate.

In reality the taxes he will pay will be lower than 45% in aggregate



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Posted by nobodytooimportant on 1/30 at 2:11 pm to BBONDS25
quote:

Of course there will be deductions. The logic failure is that you are ok with a large portion starting at 63 percent


What on earth are you taking about (Besides being a moron if you think I am otto)? Where did I say I was okay with 63%. I said 63% is not accurate and you all are believing some stupid things.



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