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by sethc2
1905 days ago
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I watched sports then and watch them now. I just love to see awesome athletes who have honed their bodies and reflexes to such a crazy degree do things I could never do. The interjection of social justice issues hasn’t yet taken anything away from the joy of the game from what I’ve seen. Kneeling for the anthem, wearing armbands with messages doesn’t change any of that. If they start saying we need more diversity in sports and pay athletes who aren’t the best because of their skin color or sexual orientation I’d be annoyed. If someone is gay or straight or white or black and is the best at his position but he doesn’t get a job because of his orientation or skin color then I’ll stop watching. The only thing I hate is how many athletes who have such short 3 year windows have half their income taxed for those three years then go on to work “normal” jobs for the next 30 years, and someone who ultimately made the same income over 30 years at a high paying “normal” job got taxed so much less over the same time span. |
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Athletes do not get taxed on "half their income." Each bracket of income is taxed at a progressively higher rate, so the first $10k for everyone is taxed at the same 10% rate. The next $30k for everyone is taxed at the same 12% rate. The next $45k for everyone is taxed at the same 22% rate, etc. The highest bracket is 37%, and only the dollars above ~$520k are subject to that 37% rate. Even including state income taxes, only persons making more than $600k are subject to the highest theoretical rate (which is below 50%), and even then only on the dollars earned in excess of $600k.
So, for example, if Superstar BBaller earns $601k in wages for playing for the LA Hoopers, he pays $58k in taxes to CA (the mathematical total of the progressive lower-taxed brackets), plus $123 for the $1k over $600k. He pays the feds approximately $150k for the lower-taxed brackets, plus $30k on the $101k in excess of the $520k threshold for the highest-taxed bracket.
And even that example overstates the taxes he pays, since it excludes deductions, tax credits, state tax credits, etc., that would lower the actual tax paid.