{"id":16401,"date":"2012-08-02T08:32:19","date_gmt":"2012-08-02T13:32:19","guid":{"rendered":"http:\/\/www.fitzness.com\/blog\/?p=16401"},"modified":"2014-10-29T10:38:29","modified_gmt":"2014-10-29T15:38:29","slug":"team-usa-olympians-pay-big-taxes-on-medals-earned","status":"publish","type":"post","link":"https:\/\/www.fitzness.com\/blog\/team-usa-olympians-pay-big-taxes-on-medals-earned\/","title":{"rendered":"Team USA Olympians Pay Big Taxes on Medals Earned"},"content":{"rendered":"
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SwimmingWorldMagazine<\/p><\/div>\n

The USA is one of the few countries which taxes citizens on internationally earned income, and that means that our Olympic Medal Winners will be taxed<\/strong> for their Olympic success. Not only are our athletes NOT funded by the government – they are funded by donations, family money and sponsorships – their medals come with cash awards which are considered “earnings” on which they must, pay, pay, pay. The USOC says a gold medalist gets $25,000, a silver medalist $15,000 and a bronze winner $10,000. At the 35% tax rate, athletes will pay $3,502 per bronze medal, $5,385 per silver medal and a whopping $8,986 per gold medal<\/strong>. Holy cow! That’s a lot of money! Sure – some athletes like Michael Phelps and Ryan Lochte have sponsorship money coming out the yin-yang. I get it. But just think about our fencers, divers and other virtually unknown athletes who struggle and sacrifice to get to the games. This tax is one heck of a “welcome home” for those who’ve worked so hard to represent our country well. Your thoughts?<\/p>\n

Marco Rubio Backs Bill Exempting Olympic Winners From Tax<\/a>
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