Anyone else find this a lil messed up??

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Wow that IS messed up, I would think the LAST thing the Olympic committe would want is for people not to compete beacuse they "couldn't afford it" Another quick question, do the winners get cash plus a real gold, silver, bronze medal? I wonder how much those are worth.
 
The medals aren't worth much money for the metal, but have value because of what they are. And the taxes are on the money you win with the medal $25,000 for gold so you pay just under $9,000 in taxes on the winnings.
 
Who has to pay that tax,American winners?If so how is that possible when the medals and money are not awarded in the states?
 
Anyone who makes more money than me or beats me at any competition should pay money or be fined
 
SumoNinja said:
Anyone who makes more money than me or beats me at any competition should pay money or be fined
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I'm wit it....as long as the fines and monies are payed to ME!!!
 
nothing wrong with taxing earned income..and thats what it is.... it would be messed up if they DIDNT have to pay it..and the reason they might have to pay up to 35%is thats the tax bracket they are in.almost all olympic atheletes are pretty well off after collecting training expenses ...not a food stamp recipient in the crowd
 
Seems to me it would depend on who is paying the income to be earned.If the money is not earned in America then it does not seem fair that they would collect any taxes on it.
 
krichardson said:
Seems to me it would depend on who is paying the income to be earned.If the money is not earned in America then it does not seem fair that they would collect any taxes on it.
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its payed by the usoc ,a federally FUNDED group.... ps they dont pay taxes on the medals themselves just the bonus money
 
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