POSTED: Thursday, July 25, 2013 - 5:32pm
UPDATED: Saturday, July 27, 2013 - 9:42am
Tyler, Texas (KETK) — Many time on this forum we have discussed how high taxes are and when taxes get high enough they choke the economy.
Smart people are not going to always have their taxes raised to pay for more people.
I read, Wednesday, for every two people getting government assistance there is a hard working person busting his or her hump to pay for it.
I read today where a California TV station reported where golfer Phil Mickelson won both The Open Championship and the Scottish Open.
He 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.
While Mickelson can take a foreign tax credit to avoid being taxed again by the U.S. government, he still has to pay self-employment taxes, the new Medicare surtax, and hand over 13.3 percent of his wages to the state of California, which does not have a foreign tax credit, Forbes reported.
Forbes estimates he will take home $842,700, which, of course, does not include any of his tax-deductible travel expenses and the additional 10 percent he owes to his caddy.
Congratulations, Phil, but, I'm beginning to think, what's the point of working that hard to be that darn good.
That's my point of view, what's yours?
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