Tuesday, August 07, 2012

Tax Breaks for Olympians?

Even Obama seems to be for giving Olympians tax breaks on their medal income.

Olympians work hard, but there's always an element of luck too. Others derive benefits from their performances, and these champions all rely on the support of others. Thus, it's just like any other income in principle.

No wonder mentions of eliminating tax loopholes usually go nowhere once a politician gets in office.  Tax breaks for popular demographics and projects seem a costless way to do good and win favor.

2 comments:

W.C. Varones said...

They didn't build that.

Big government built the training centers, and created the nutrition guidelines.

They should give their medals to Obama to put next to his Nobel Peace Prize.

Jim Oliver said...

From Obama's speech you would think that he would love to raise taxes on lottery winners because they did not deserve what they won. His attitude seems like he only wants to let rich people keep enough to keep them motivated. So at what tax rate do people stop playing the lottery. I think that it is very high because most lottery players do not think about the taxes at all.

I think that the lottery is a tax on stupidity, but hey the winners won it fair and square. I think that same a businessmen. Sure they used public roads, but that was fair and square. The low income people had the same access to the roads.