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View Diary: Oh Noes!!--Phil Mickelson (R-Golf) Might Retire, Citing (Incorrectly) Tax Hikes on Top 1%--Boo-hoo. (302 comments)

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  •  Income is still taxed on location earned (3+ / 0-)
    Recommended by:
    TFinSF, Ian Reifowitz, bobinson

    Lebron James has to pay CA taxes on income earned when the Heat plays in LA, Sacramento or Oakland. NY taxes when he plays in NYC, etc.

    When you are right you cannot be too radical; when you are wrong, you cannot be too conservative. --Martin Luther King Jr.

    by Egalitare on Mon Jan 21, 2013 at 08:14:52 AM PST

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    •  That's true but all the endorsement income (1+ / 0-)
      Recommended by:
      Ian Reifowitz

      is taxed at your state of residence. It makes no sense for Phil to live in California and pay 13.3% when he could pay zero.

      "let's talk about that"

      by VClib on Mon Jan 21, 2013 at 08:20:11 AM PST

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      •  It makes no sense to a greedy, self-absorbed (3+ / 0-)
        Recommended by:
        Ian Reifowitz, sukeyna, tobendaro

        piece of shit like Mickelson, that is.

        For an actual, you know, human being, making fifty million bucks a year is plenty; hell, he could live fine if his total tax rate were 98%, which if course it isn't.

        But yeah, sure, for greedy pigs the only reason for making any decisions about things like residence is the avoidance of contributing to society. So I suppose it makes sense to an asshole to move to Florida for that reason.

        "Bernie Madoff's mistake was stealing from the rich. If he'd stolen from the poor he'd have a cabinet position." -OPOL

        by blue in NC on Mon Jan 21, 2013 at 08:44:45 AM PST

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      •  It makes no sense if citizenship is reduced to... (5+ / 0-)

        ... "What's in it for me" and nothing else.

        When you are right you cannot be too radical; when you are wrong, you cannot be too conservative. --Martin Luther King Jr.

        by Egalitare on Mon Jan 21, 2013 at 09:22:10 AM PST

        [ Parent ]

        •  A high percentage of professional athletes (2+ / 0-)
          Recommended by:
          dewtx, nextstep

          particularly those with large amounts of endorsement income live in Florida or Nevada. It's easy to understand why high income athletes would live in states with no income tax. In Phil's case he is paying $4-5 million a year in state income tax when that number could be zero if he lived in Florida. I am sure he receives a lot of pressure from his tax advisers to more his tax residence to a no income tax state.

          "let's talk about that"

          by VClib on Mon Jan 21, 2013 at 09:56:40 AM PST

          [ Parent ]

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