Seattle quarterback Sam Darnold will pay more in California state taxes than his entire Super Bowl bonus check.
Posted by hm3buzz 23 hours, 33 minutes ago to Government
Whether you're a sports fan or not, I believe this is nonsense, If sports leagues know this is happening, why would they even have events in that dying state?
Quoted from the article.
{Stanford University Finance Professor and Hoover Institution Fellow Joshua Rauh commented on the numbers, sarcastically complimenting California’s tax system for ensuring the “incentive to win is preserved” by taxing the Super Bowl loser more than the winner.
“If his team wins, Darnold will receive $178k and pay $249k to California in taxes for his time here, losing $71k. If his team loses he gets $103k and still pays over $235k in taxes, losing $135k. I presume California is declaring victory, as his incentive to win is preserved,” Rauh quipped.}
Quoted from the article.
{Stanford University Finance Professor and Hoover Institution Fellow Joshua Rauh commented on the numbers, sarcastically complimenting California’s tax system for ensuring the “incentive to win is preserved” by taxing the Super Bowl loser more than the winner.
“If his team wins, Darnold will receive $178k and pay $249k to California in taxes for his time here, losing $71k. If his team loses he gets $103k and still pays over $235k in taxes, losing $135k. I presume California is declaring victory, as his incentive to win is preserved,” Rauh quipped.}
Regardless of what I think about the insanity of a relatively mediocre player
being paid $35 million a year, the players should have tax advisers on how
to structure their contracts so Commifornia and all the other commie states
(e.g., NY, MA, IL, and the USA) have very little to tax.
(My response to the insanity is to boycott everything the NFL does.)