Tag Archives: olympics

Olympic Medal Winners Face a Tax Hit

In his third Olympic Performance, Michael Phelps won a total of six medals: four gold and two silver. His performances in the thirtieth Olympiad is sure to bring big financial awards, but his performances are also going to cost him.

Every American who won a medal in the London Olympics will receive cash rewards from the U.S Olympic Committee. Each gold medal winner will receive $25,000, each silver medal winner will receive $15,000 and each bronze medal winner will receive $10,000 respectively. This means when Michael Phelps returns to the states, he will be collecting a healthy $130,000 from the USOC.

Phelps with his record breaking 19th Olympic Medal

However, Phelps will also be taxed for each medal he received. For each gold medal, Phelps will have to pay the IRS approximately $9,000, for each gold, $5,400 for each silver, and if he would have earned a bronze, $3,500.

Soon after stories surfaced about U.S. Olympic athletes facing deep financial hardship, some Washington politicians have offered and supported a bill that would offer the athletes a reprieve.

Republican law makers led by Florida Senator Marco Rubio, and Massachusetts Senator Scott Brown introduced a bill named Olympic Tax Exemption Act last week. The bill has already gained the support of President Barack Obama.

“Our young athletes endure years of grueling training and make enormous sacrifices so they can represent our country on the national stage and make us proud. Our thanks should not come in the form of a giant tax bill from the IRS.” Brown said when asked about the bill.

Follow Me on Twitter @chrisenloe.

IRS Punishes Excellence: The Tax Burden on Olympic Athletes

This week, the best of American athletes, who’ve spent years putting hard work and effort into training for their respective sports, are in London for the Olympics.

It’s a wonderfully capitalistic competition- the best, the most talented, the hardest working from around the world competing to see who is the best. Excellence is rewarded with medals, international recognition and the personal satisfaction of knowing that your dedication has propelled you to victory.

Yet, how does America, the supposed bastion of the free market, reward the excellence of their athletes upon their return home?

By taxing them of course.

United States tax law states that U.S. athletes, who face a top tax rate of 35%, must add their Olympic medals and prizes to their taxable income.

Americans for Tax Reform notes that a gold medal is worth $675, a silver medal is worth $385 and a bronze medal’s worth is under $5.

Their is also a cash prize that accompanies each medal won- $25,000 for gold, $15,000 for silver and $10,000 for bronze.

The following chart, from Americans for Tax Reform, shows the tax burden, graduated by medal type, that athletes pay on each individual medal they receive:

  Medal Tax Prize Tax Total Tax Burden
 

Gold

 

$236 $8,750 $8,986
 

Silver

 

$135 $5,250 $5,385
Bronze $2 $3,500  

$3,502

This astounding tax on excellence is made even worse by the fact that U.S. athletes are virtually the only competitors who are taxed for their winnings, because the U.S. is one of the only countries that taxes worldwide income- income earned overseas by taxpayers.

However, Tea Party favored Florida Senator Marco Rubio is making an attempt to end the tax. Calling the American tax code a “complicated and burdensome mess that too often punishes success”, Rubio introduced a bill that would end the tax on Olympic medals.

Media Apoplectic Over Romney’s Faux Gaffe in UK

The liberal media was was off to the races after Romney’s alleged Olympic gaffe.  It would be all the more interesting if this was actually  a story.  Romney was still called Mitt the Twit by The Sun. Why? Because the presumptive Republican nominee said  “there were a few things that were disconcerting- stories about the private security firm not having enough people, the supposed strike of the immigration and customs officials. That is not something which is encouraging.”  CBS This Morning’s Jan Crawford gave this sensationalized report on July 26:

JAN CRAWFORD: That [statement] caused a storm in the tea cup and started a transatlantic war of words after Prime Minister David Cameron said this.

DAVID CAMERON: We’re holding an Olympic games in one of the busiest, most active, bustling cities anywhere in the world. Of course, it’s easier, if you hold an Olympic Games in the middle of nowhere.

CRAWFORD: Cameron was responding to a question about subway delays, not Romney and his aides later said he was not referring to Salt Lake City. But the mayor of salt lake thought otherwise. Seeing the coverage, he took offense, releasing a statement inviting Prime Minister Cameron to “stop by any time. We’d love to have him and happy to send a map so he doesn’t run into trouble locating the middle of nowhere.” And The Daily Telegraph opined that Mitt Romney is perhaps the only politician who can start a trip that was suppose to be a charm offense by being utterly devoid of charm and mildly offensive. After a meeting with Cameron, Romney walked  back his critique.

CRAWFORD:  Now Prime Minister Cameron said after his meeting with Romney, he knew Romney had run a successful Olympics and he appreciated that vote of confidence. But Gayle and Charlie, I’ve got to tell you, all of this here has really overshadowed one of the main reasons Romney was coming to London, which of course was to remind Americans of his role in saving those troubled Salt Lake City Olympics ten years ago.

What gaffe is the liberal media talking about?  Romney only reiterated what many in the UK were already saying about Olympic security.  As indicated by RBpundit, the British press, the same blokes blasting Romney, were in a frenzy over Olympic security a week before the event.

Liberal Media Fail

CNN reported on July 17 that:

The security concerns were triggered last week when it emerged that private security contractor G4S [a UK security firm], which was supposed to have provided 10,400 guards for the Olympics and Paralympics, would not be able to deliver.

Its failure to recruit, train and vet enough staff in time led the government to announce last week that it was deploying an extra 3,500 troops to cover the shortfall.

G4S said it has only about 4,000 guards trained and ready, although it hopes to have 7,000 fully accredited by the time the Games begin on July 27.

Even members of parliament were uneasy with the “making it up as you go along” approach, which forced the government to deploy more troops to provide adequate protection.  There was even a whistleblower in G4S who claimed that x-rays failed to detect a phony nail bomb, which should be a cause for alarm.

This is not a “controversy” or a “gaffe.”  It’s the Democrat Media Complex on the war path.  The Washington Examiner did some digging into Obama’s British gaffes and here are a few of them that were published on July 27.

March 2009: Obama “too tired,” to properly host Prime Minister Gordon Brown

Prime Minister Gordon Brown came to visit the President at the White House, but the British press reported there was no “full-blown press conference” or “formal dinner,” as has been customary. The British Press reported that the President was “too tired” to properly host the Prime Minister because he was dealing with the economic crisis.

Even worse was this reported quote from an anonymous State Department official:  “There’s nothing special about Britain. You’re just the same as the other 190 countries in the world. You shouldn’t expect special treatment.”

March 2009: Obama gives Prime Minister Gordon Brown a box of DVD’s

While visiting the United States, British Prime Minister Gordon Brown gave the president a pen fashioned out of the same wood as the Resolute Desk. What did Obama give him in return?

“Barack Obama, the leader of the world’s richest country, gave the Prime Minister a box set of 25 classic American films – a gift about as exciting as a pair of socks,” reported the Telegraph.

What’s worse, the set of DVD’s was coded for the United States and unreadable by UK DVD players.

April 2009: Obama gives Queen Elizabeth an iPod

White visiting the Queen, the Obama family gave her an iPod,prompting raised eyebrows from the British Press. The MP3 player came pre-loaded with photos from President Obama’s inauguration and audio files of the president’s speech as a senator to the 2004 Democratic National Convention and his 2009 inauguration address.

The queen reportedly already had an iPod.

April 2009: First Lady Michelle Obama breaks protocol by touching the Queen’s back

Via the Telegraph, “Some observers winced at the sight of that hand pressed firmly across the royal back. They thought it an appalling solecism and an offence against the Queen’s dignity.”

January 2011: Obama calls France America’s ‘strongest ally’

While President Obama was visiting France, the British Press was particularly vexed when he told French President Nicolas Sarkozy that France was America’s strongest ally.

“The UK has lost nearly 350 troops in the war against the Taliban – seven times as many as France.” noted the Daily Mail.

May 2011: After toasting the Queen, Obama continues speaking as the band starts playing ‘God Save the Queen.’

This awkward moment had both countries wincing, as the President presumed to keep speaking even though the band started playing.

The BBC notes: According to protocol, however, he (Obama)  should have stopped after the toast.

May 2011: Barack Obama snubs British scientists by refusing to receive Royal Society medal

The Telegraph reports: “Sources close to the state visit said members of the Royal Society were ‘deeply offended’ by the snub and had accused Mr Obama of being obsessed with his ‘street cred.’”

December 2011: President Obama refers to the British Embassy as the “English Embassy”

From the Daily Mail: In an interview yesterday, Mr Obama said: ‘All of us are deeply disturbed by the, err, crashing of, err, the English Embassy, err, the embassy of the United Kingdom.’

June 2012: President Obama refers to the Falkland Islands as ‘the Maldives’

This was a mistake on top of a gaffe, as the Maldives are actually in the Indian Ocean. Obama was trying to say “Malvinas” — the name given to the Falkland Islands by the Argentine government, a British possession which Argentina invaded in 1982. This was the British equivalent of suggesting that the U.S. hand Pearl Harbor over to the Japanese. As The Telegraph’s Nile Gardiner writes:  “This is a position that Britain views as completely unacceptable, and with good reason.”

(H/T Sooper Mexican)

All of this and Bob Gibbs, in his insufferable wrongness, had the temerity to say:

Mitt Romney wondered aloud whether London was ready for the Olympics, and I think it’s clear that voters in this country wonder aloud whether Mitt Romney is ready for the world…I think the world is not yet ready for Mitt Romney, he [Gibbs] added. To go overseas, stand in the country of our strongest ally, in an Olympics they’ve been preparing for years for, and question whether or not they’re ready does make you wonder whether or not he’s ready to be commander-in-chief.

Hey Bob, first of all,you can go shove it. Second, France is our strongest ally.

Mitt’s Olympic Gaffe–Or Was It?

Two quick pictures for your perusal.

You heard about Mitt Romney’s ‘gaffe’ during an interview on NBC last week. During the interview Brian Williams asked Romney who headed up the 2002 Salt Lake Winter Olympics about any concerns. Romney answered as only the President and CEO of the first Olympics following 9-11 could, with his concerns. The security questions mentioned by Romney were being reported just weeks earlier. (Guardian July 12)

If you missed the NBC interview here is the pertinent part. It’s just 30 seconds…

Visit NBCNews.com for breaking news, world news, and news about the economy

Apparently, the Brits took offense that anyone would question their readiness. Much was made of this gaffe and Romney was the butt of jokes for the next two days. Media outlets in the U.S. jumped in to the fray claiming that Romney had made a terrible mistake, but not generally stating what the mistake was (perhaps, due to the realization this was not really a faux pas at all.)

Picture number 1

Today, there are new stories. Those of traffic issues, poor ticket availability but empty stands, and yes, security problems.

Picture number 2

Interesting. Kind of makes you wonder about the readiness…

Olympic Invasion

Yahoo, that staunch defender of all things “progressive”, jumped on the media bandwagon in gushing over Malaysia’s Nur Suryani Mohamed Taibi making the trip to London to compete in the Olympics.  They fawned all over the feel good story about how just one month before she is due to give birth to a baby she is scheduled to compete in the 10m rifle event.  The 29-year-old is not the first pregnant Olympian, but is believed to be the farthest along in history.

This shows the utter stupidity of European countries that are so welcoming of people who want to destroy Europe, European culture and the last vestiges of European Christianity.  As in: muslims.

http://muslimmedianetwork.com/mmn/?p=11072

Who cares if she is pregnant and in the OIympics?  Within the bigger picture, that is so trivial it is ridiculous. This is a taquiyya based PR move on the part of muslims and their “progressive” western co-conspirators.

Thanks to the suppression of women in muslim countries where sharia law is enforced, women are not allowed out of the house without being accompanied by male relatives…or to drive, much less allowed to shoot a gun.

Most muslim countries are still sickeningly misogynistic.

Should Tabili decide to stay in London after the Olympics she would be just another pregnant muslim woman helping to overthrow another European country by outbreeding “politically correct” natives who themselves refuse to reproduce because doing so would lead to overpopulation and “harm mother earth”.  In a couple of decades muslims will complete their centuries old quest to conquer Europe.

This is exactly the same type of “progressive” multicultural diversity politically correct “tolerance” gobbledygook nonsense that led the American Ft. Hood shooting incident to be officially classified as “workplace violence” and to unwarranted attacks on Michele Bachmann and other Congressional Reps who courageously called for an investigation into the infiltration of America’s government by elements sympathetic to the Muslim Brotherhood.

When it comes to “political correctness”, “progressive” Americans are not far behind Europe.  If you ask a typical college grad who has recently been released from the indoctrination camps known as American college campuses, they are oblivious to the fact that over the years, communist regimes have killed 100 million of their own people.  If you ask them what country is the greatest force for evil in the world, they will tell you it is the United States.  These are the same brain dead “progressive” lemming useful idiots that will give you the kneejerk, propaganda based response that islam is “a religion of peace”.

Consider this exchange found on Jihad watch:

This death threat came in to ABN after I interviewed Pamela Geller in a show on “Islamophobia” last Monday night. I posted an expurgated version of this death threat already, but the unexpurgated version gives the full flavor of the opponents we face in fighting for freedom and human rights. Pamela Geller has the full audio, plus a transcript:

Now listen to me, a$$hole: if you ever disrespect my belief, I’m going to personally find ya, ok? If you ever disrespect Islam ever again, I’m going to personally find you all, ok? Take what I’m saying very f**king seriously, ok? And I f**king mean it. I’m going to personally find you all, ok? Your life will be a f**king nightmare. Take what I’m saying very f**king seriously. And start to learn how to respect other people’s belief system. This is not freedom of speech. You’re being a f**king d*ckhead. I’m going to personally find you, if I ever see your f**king a$$. Don’t be disrespectful of other people’s belief system, ok? F**king a$$hole d*ckhead. I’m gonna find you. You’ll see it. You’ll f**king die.

Pamela notes quite rightly: “If Daisy Khan or Huma Abedin had received this threat, the police would be on 24-hour guard at their house. But no one will take notice of this one.”

http://tinyurl.com/bu3xs27

That is “a religion of peace”?

Nur Suryani Mohamed Taibi’s winning a gold medal then using her triumph to rub it in the faces of her culture’s misogynistic pigs would be an achievement worthy of universal acclaim.

You go girl.

http://mjfellright.wordpress.com/2012/07/26/olympic-invasion/

US Olympian Clothes–Made In China!

In just a few short weeks all eyes will be focused on London. The best of the best athletes will gather for this summer’s Olympics. As always, the United States contingent will be strong and competitive.

Our Olympians will look good as they represent the United States. But a closer look reveals that one country has already won the gold. CHINA. Yes, it’s true, the official clothing for the representatives of the United States of America was made in China.

The President continues to promote American manufacturing but it appears the Olympic committee did not get the memo. The Olympics are privately sponsored and not government funded. Still, one  has to think a “Proudly Made In America” slogan would have been helpful in many ways.

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Proof That Romney Is Willing To Say ANYTHING To Get Elected


Willard Romney won six out of ten states last night, but you have to wonder how many voters saw this video before casting their ballots.  In it, he brags about how he was able to secure “over $410 Million” from the federal government to help fund the 2002 Winter Olympics.  What’s odd is that he even talks about how helpful it is to have people inside Washington to manipulate the system and get you money.

“I’ve learned from my Olympic experience that if you have people that really understand how Washington works and have personal associations there, you can get money to help build economic development opportunities.”  -Mitt Romney

To be honest… It kind of sounds like he describes a “Washington insider”.  And it sounds like he thinks that “Washington insiders” are good people to have around.  Later in the video, he even brags about how he got an extra million dollars from the Department Of Education.  When discussing it, he grins and describes it as using “creativity”.

This is all somewhat odd, considering that Mitt Romney has placed so much emphasis on the fact that he’s “not a Washington insider”.  But it sounds like when he was vying to be governor of Massachusetts, he was absolutely willing to employ the talents of just such insiders.

Romney has had a hard time convincing Conservative voters that he’s the candidate that they’re looking for, and examples like this might be why.

World Opinion Worse Now: Obama Cost Chicago the Olympics

During his campaign run, Barack Obama disparaged past leaders for having created an atmosphere in which the rest of the world despised America.  Obama had promised to, “renew the nation’s promises” because he believed that we had, “a unique opportunity to reboot America’s image around the world”.  Our image has been reshaped, but not positively.

Obama now has a public image of someone that talks big but does not deliver.  This is the fear that many expressed during the campaign.  He is an effective cheerleader, but not so much a quarterback.

We have spent America’s political collateral talking to Iran, ignoring England, talking to Hammas and the Palestinians while brow-beating the Israelis, ignoring the success in Iraq and failing to support Afghanistan, talking to Russia while screwing Checkoslavakia and pushing Georgia away.  We have not gained a single new ally or friend, but have managed to distance ourselves from the ones we used to have.

Is it any wonder that the International Olympic Committee dropped Chicago onto the trash-heap in the first round?  Those who held America in contempt before Obama, still do.  Those who used to consider us stalwart allies, can no-longer count on us.  Anyone that might consider a partnership with us sees a weak leader that goes back on his commitments and has achieved exactly nothing.

In the end, the President has had almost a year since his inauguration.  If he decides to blame world opinion, it’s actually the world’s opinion of him now.  It won’t stop him from somehow blaming Bush, or the liberals calling it racism, but it should.

As an article on NBCWashington.com put it, “it wasn’t right-wingers at a town hall meeting, or even the loyal opposition in Congress who said “no thanks” so emphatically to Obama.  It was the world.”