Only in America....
End the fed.
OH NO lNCOME TAX!!111
Last edited by Emolas; 08-02-2012 at 01:56.
Wait, a GOLD place medal only has a prize of $25,000? I would of thought it to be at least 10 times that.
But whatever. Taxes are nothing new, this isn't surprising. Disgusting, yes, but not surprising.
just like professional athletes are taxed on their income, so should the olympians
the medals are created from precious metals, which are a commodity and should be taxed
you may not know this... but olympians are actually normal people, and should be held to the same standards as other hard working citizens
As every Olympic athlete knows, size matters. The London 2012 medals are the largest ever in terms of both weight and diameter - almost double the medals from Beijing. However, just as equally well-known is that quality beats quantity and that is where the current global austerity, coin-clipping, devaluation-fest begins. The 2012 gold is 92.5 percent silver, 6.16 copper and... 1.34 percent gold, with IOC rules specifying that it must contain 550 grams of high-quality silver and a whopping 6 grams of gold. The resulting medallion is worth about $500. For the silver medal, the gold is replaced with more copper, for a $260 bill of materials. The bronze medal is 97 percent copper, 2.5 percent zinc and 0.5 percent tin. Valued at about $3, you might be able to trade one for a bag of chips in Olympic park if you skip the fish.
I have to pay taxes on everything I earn and win, why should they get a free ride?
It's not just the Olympic athlete winners that should, but everyone. This just highlights how absurd it is.
You can't even win something without forking over labored effort.
Let's make the biggest and most obvious tax loophole ever then.