As reported by Yahoo! Sports, boxing superstar Manny Pacquiao’s next fight will take place on November 24; however, for the first time since 2006, the fight will take place outside of the U.S. The official destination of this multimillion dollar sporting event is The Venetian in Macau, China.
As ATR reported in February, the possibility of Pacquiao’s next fight not taking place on U.S. soil due to a punitive federal income tax rate of 39.6 percent was greater than most would suspect.
As boxing promoter Bob Arum told Yahoo! Sports in February, “Manny can go back to Las Vegas and make $25 million, but how much of it will he end up with – $15 million?"
If Pacquiao were to earn a hypothetical $20 million for this upcoming fight in Macau, his after tax earnings would be $17.6 million – as opposed to the $12.1 million he would earn for the same proposed scenario in the U.S.
How sad is it that China has a lower income tax rate than the US?
quote:Floyd is a giant vagina and is the only reason that the fight won't happen.
Floyd is still the best fighter in the world. Manny was never close. I wish they had fought too though so that Floyd would have shut everyone up after he destroyed Manny. Manny wouldn't even lay a glove on Floyd.
You're right. The trillions of dollars in taxes that are taken every year in this country are *just* enough to keep the lights on. Some expensive fricking lightbulbs