According to the Weekly Standard, there are taxes to be paid on each of the
metals won in Olympic competition.
The
Bronze metal comes at an IRS price of $3,500; Silver at $5,385 and Gold at $8,986.
But, before we
conservatives go on the rampage, there
is, also, a monetary prize for each
metal: $10,000 for each Bronze metal,
$15,000 for Silver and $25,000 for each Gold.
Every dollar value, mentioned above, is taxed as
income, but it looks like each American
competitor comes off with a little cash in the pocket, for their effort. Understand that this as nuts as were the
Obama “tax cuts” to the middle class.
Did you know that his “tax cuts” were nothing more than payments given
to the middle class, payments for which
the middle class had to pay income tax?
A tax cut occurs when, and only when, tax rates are lowered. I mention this because, if you are a Democrat, you obviously do not know this.
In 2009, My wife and I both received $250 checks from Mr. Obama, for which we had to pay a 28% tax on the next
April 15. He called this a "tax cut cut" but charged my wife and I as if this was income. Folks, it can't be both !!!
Understand that the Obama's and Elizabeth Warren will argue that the taxes are fair, in this case, because the Olympians did not experience success of their own effort. In fact, the One Worlders now in full control of America (at least, until November 6) such as Elizabeth "Sitting full of Bull" Warren and B. Obama believe that individual effort is a small, small part of individual success as relates to anything accomplished.
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