Updates
January 23, 2013: Another honest opinion on taxes -- Tiger admits he left California because of high taxes. Remember, he was a Stanford man. It would be interesting to know how many Hollywood A list actors claim another state as residents. Tommy Lee Jones lives in Texas, as far as I know, unless he has moved.
January 22, 2013: This shows how crazy the discussion about Phil has become. The talking heads are focusing on "the number." CNBC heads say there is no way he is paying 62% in taxes as someone said he said. At most, he's "only" paying 52% according to these talking heads. Wow! Only 52%. And the talking heads don't even seem to realize that 52% is more than your income going to taxes. And, he certainly could be paying 62%. Maybe he doesn't take any advantage of loopholes, being a loyal, patriotic American who wants to pay his fair share. Except that after 61%, it's becoming slightly more than "fair share." It sounds like the CNBC talking heads are suggesting to Phil, he needs to take advantage of more of those tax loopholes, like investing in wind turbines. I can't make this stuff up.
Original Post
There is nothing in this story about "Phil" moving to Belgium.
The link is to a story about Phil Mickelson complaining about his taxes. He said his taxes have increased so much he is considering retiring from the game. It sounds like he is remorseful about going public, but it doesn't sound like he's changing his tune.
I don't think his ObamaCare taxes have rolled in yet.
And so it goes. I don't even know what would make me think that "Phil" would consider moving to Belgium.
Oh, the Bakken connection: 3.8% surcharge on oil and gas royalties for ObamaCare. It's nice to see other bloggers have their own thoughts on this.
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Meanwhile, former French prime minister Sarkozy is moving to London to avoid the new, high taxes in France. Good for him. And his girlfriend.
Oh let's speculate. A pampered, overpaid athlete who but for his ability to play golf would be selling slurpees at a 7-11 is whining about how hard it is to survive on 20m (after tax income)?
ReplyDeleteSomething is off here. If he wanted to reduce his tax bill by moving, why didn't he quietly just do it and come up with some pretext like he can't handle the rancho Santa fe weather anymore. That would avoid the risk of infuriating his fan base which is his main income stream (endorsements).
This has all the earmarks of a well planned pr trial balloon designed to gauge media and fan reaction.
Will be interesting to see what happens.
He might be able to pull this off tho. Golf is not MLB or the NFL . Can you imagine fan reaction if Tom Brady moved to Italy NFL to lower his tax bite.
I wish phil well but he is making a mistake.
I assume he has already consulted mitt Romney and. Warren buffet's tax planners and they came up this plan.
Tom Brady moving to Italy would be a stretch, but there's a reason a few NBA players have wanted to go to Texas and Floria (neither state has a state income tax).
DeleteI don't think one has to consult Mitt Romney or Warren Buffett to figure out where best to live.
Regardless, taxes should be less of problem going forward for Californians. Governor Brown says the state has erased its $24 billion deficit and is now in the black.
Well unless I missread this, the rationale given for moving is hiigh ca and federal taxes. In other words, 20m a year after taxes is not good enough.
ReplyDelete(rumored gross income is 50m and phil says he pays 60% in taxes if true, this means after tax income is 20m).
He isn't planning a move because he wants to experience a different locale.
I would assert that this sends a message to young people that money isn't everything, it is the only thing. Good job phil.
Yes, you are probably right.
DeleteThe funny thing, for me, and I'm sure it's different for everyone, money has never meant much for me (not in the ways this discussion is taking). I doubt "young" people even care. In fact, I doubt "young" people have even heard the story.
I doubt the money is the "only" thing in Phil's life, but it's a huge thing in his life. I could be mistaken, but Tiger Woods lives in Florida. When the annual lists come out, how much each professional athlete is worth, taxes play a huge role in one's actual and potential worth.
For many folks, perhaps not the majority, but if you asked many folks where they would live if they could live anywhere they wanted, I doubt their answer would be "I want to live in a high-tax locale."
Bottom line: a) I care not a bit what others make; b) I've never cared that much about money, but that doesn't mean I don't enjoy investing; and, c) I really doubt "young" people pay much attention to the personal financial decisions professional sports athletes make.
But, again, I assume I'm in the minority. I assume the vast majority, if asked, would repeat the cliche: "This sends the wrong message."
For me, it sends the right message. All things being equal, I would live where I keep more of my own money, no matter how little or how much I make.
I don't even know why I posted the story except perhaps that if it's affecting Phil, it's affecting a few "A" list actors/actresses who consistently voice support for higher taxes. Whatever.
I think the real story here is that Phil is a true AMERICAN FAMILY MAN and he wants the best for his country and family. Sneaky taxes to steal from everyone and unchecked spending do not bode well for our kids,grandchildren, and hopefully great grandchildren. He is not a Hollywood crier and has not let his stardom get in the way of what he feels is good for our country! He is now my favorite athelete.
ReplyDeleteWhatever the reason, I agree 100%.
Delete62% of one's income going to taxes: ridiculous. And again, the talking heads suggesting he needs to get a new accountant to find all the loopholes. Wow.