Phil Mickelson’s tax rate: 61%

Phil Mickelson’s tax rate: 61%

Phil Mickelson - wikipediaWhat a ripoff.

A guy works ceaselessly for three decades to reach the pinnacle of his profession. Then the government steals 61 percent of his income for its nefarious purposes. CBS reported:

“Thanks to his recent wins at both The Open Championship and the Scottish Open, Phil Mickelson pocketed more than $2.16 million in just two weeks.

“The world’s top golfer — who came under fire earlier this year when he complained about his supposed 60 percent tax rate as a California resident — is taking another hit on his recent earnings.

“According to Forbes, Mickelson has been subjected to the United Kingdom’s 45 percent tax rate for those who make more than £150,000 a year. In addition, the magazine reports, he will be taxed on a portion of the endorsement income he earned during his time in Scotland.”

Bottomline: a 61 percent tax rate.

Hey, didn’t we fight a revolution against the UK over “taxation without representation”? Does Mickelson get to vote in Brit elections? No.

As to America, Mickelson is one of those people President Obama and Gov. Jerry Brown — both themselves incredibly wealth millionaires because of their lives in politics — insist must “pay their fair share.” That is, Mickelson must be robbed to fund the politicians’ programs, much of which money goes to Crony Capitalist campaign donors.

It’s surprising that Mickelson hasn’t joined Tiger Woods in leaving Taxifornia for Florida, which has no state income tax. That way he could avoid multi-millionaire Brown’s Proposition 13 top state income tax rate of 13 percent.

9 comments

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  1. The Ted Steele Conceptual Abstraction Unit
    The Ted Steele Conceptual Abstraction Unit 25 July, 2013, 16:04

    Mikelson is a goof ball ultra right moocher who plays golf but wants to live here without paying his share…

    Mickelson’s tax rate, however, is lower, according to the Tax Foundation and California tax experts. His winnings and endorsements, which Sports Illustrated pegged at nearly $61 million in its most recent annual estimate, subject him to the highest marginal rates for married couples. Here’s what they consist of:

    — A 39.6% top federal tax rate, up from 35%, on income above $450,000, thanks to the fiscal cliff deal passed by Congress on New Year’s Day.

    — A 12.3% top state tax rate, up from 9.3%, on income above $1 million.

    — A 1% state mental health surcharge levied on incomes above $1 million.

    — A 3.8% Medicare tax rate, which includes a new 0.9% Medicare surcharge on earnings above $250,000.

    But you have to consider that his state taxes are partially deductible from his federal taxes.

    Until recently, state and local taxes were fully deductible, but the fiscal cliff deal limited the amount the wealthy can deduct by as much as 80%. The Tax Foundation’s calculation, however, is based on a typical millionaire’s tax return, of which state and local taxes are a relatively small portion of the itemized deductions. Therefore, the foundation limits only a small portion of the deductibility of his state and local taxes.

    Overall, it leaves Mickelson with a top rate of less than 53%.

    Stop whining golf boy!

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  2. The Ted Steele Conceptual Abstraction Unit
    The Ted Steele Conceptual Abstraction Unit 25 July, 2013, 16:06

    I mean Phil– Come on— you’re a Republican– someone has to pay for the Republiwars for oil your man Cheney started???

    Reply this comment
  3. NTHEOC
    NTHEOC 25 July, 2013, 17:55

    A guy works ceaselessly for three decades to reach the pinnacle of his profession.
    =========================
    GOLF is not a profession!!!! And to PLAY a game like golf for 30 years just means you have alot of financial support! Nobody should make the kind of money an athlete makes for playing a game. But we are the ones who pay them! Golf is a joke,not even a sport! Just rich white guys sitting around the clubs drinking and talking about how great they are. Poor phil!!

    Reply this comment
  4. Paul
    Paul 25 July, 2013, 18:43

    I would move out of KOMMIEFORNIA…in a heart beat!!!

    Reply this comment
  5. queeg
    queeg 25 July, 2013, 19:16

    The community organizer says he makes too much…..so…..transformation/redistribution is moral for the middle class wages are as low as 1999.

    Just sayin-

    Reply this comment
  6. Let It Collapse
    Let It Collapse 25 July, 2013, 19:43

    I don’t feel sorry for Mickelson. he’s lived a fairy-tale life. My God. He plays a game for a living that a common American can’t even afford to play. I feel sorry for the poor schmuck who works 60 hours a week and 10 times harder than Mickelson for a lousy $60 grand a year and has to pay the State of California a full 10% tax on that income, not to mention 30% to the feds. That’s who I feel sorry for. Have you seen the home(s) that Mickelson lives in and the cars he drives? Sure. My heart bleed for him. But I do like him as a golfer. In fact, I rooted for him at the Scottish Open. Phil and family would live like royalty if the gov took 70% of his income. Not saying it’s right. But just sayin’. Let’s show more empathy for the working poor.

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  7. SeeSaw
    SeeSaw 26 July, 2013, 08:49

    Anyone who makes millions and has millions left after paying the taxman is lucky–he/she is able to make a huge difference in the world of the less-fortunate, while having enough left to live in splendor himself. Good example–Bill Gates. Stop crying for Phil Mickelson and take a look around the streets of LA where many without shelter or food lay their heads on concrete every night. As for Mickelson having a choice of Florida or CA–who cares. If CA doesn’t get his income taxes, Florida will get his property taxes. Oh, these poor rich………………

    Reply this comment
  8. Ulysses Uhaul
    Ulysses Uhaul 26 July, 2013, 12:07

    Amusing how greedy Cavers rant on taxes while their service dead ender jobs afford them earned income tax credits!

    Reply this comment
  9. David N
    David N 12 September, 2013, 10:24

    Hey Phil, if you don’t like the taxes then move to Texas or Florida. I did. Its nice here.

    Reply this comment

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