Surprise! The IRS taxes Olympic medals (and everything else)

Gee, this is a shocker:  Olympic medal winners will owe LOADS of taxes on their winnings,.  Gold medalists, for example, will be socked for $8,986, the result of taxes “owed” on both the honorarium they receive ($25,000) and the value of the &%#@ing gold medal ($650). Isn’t that disgusting?

The Internal Revenue Service, thanks to members of congress intent on making the rich “pay their fair share”, has been, for years, charged with going after all income earned by US citizens, no matter where it is earned. And naturally, New York’s Senator Chuck Schumer and cohorts have recently made sure the IRS stepped up enforcement of this century old tax provision.

According to Americans For Tax Reform, the United States of America is “virually the only developed nation that taxes ‘worldwide’ income earned overseas by its taxpayers.” The other country is some place called “Eritrea”, just north of Ethiopia (Yes, this will be on the test).

Florida’s Senator Mark Rubio has introduced a bill to eliminate the tax on Olympic medals. Ain’t gonna happen, not this year, anyway.

Y’ever notice? No matter how much Uncle Sam gets, it’s never enough!

24 thoughts on “Surprise! The IRS taxes Olympic medals (and everything else)

  1. Just remember, those athletes didnt earn those medals alone. Uncle sam, per Obummer, deserves a slice for helping out with roads, public housing, defense, food stamps, NPR, ethanol subsidies, etc.

    • And, CC, Obozo and the Federal Gov’t also believe they’re responsible for creating and managing the Earth’s water, without which Phelps would likely be selling bongs in a head shop.

  2. Cobra, right…and Obummer wants you also to remember that he has a fat stack of executive orders ready to bypass the constitution.
    Dont tempt him.

  3. Chuck Schumer was Anthony Weiner’s political Rebbe. Word is they had a phone cry-in when Anthony called to advise he was resigning. Tells you all you need to know about these revenue vampires.

    • Cobra:
      That is clearly a fake story, which I have RELUCTANTLY approved for publication.
      So…can we now all move past this childish interest in the scatological/excretory functions subject matter?

  4. Yeah Cobra, Gideon’s real estate driven asperger disorder doesnt tolerate scatological dialogue.

    PS – I was just saying to my wife how I bet the losing teams in water polo pee in the pool before exiting.

  5. As your therapist, I want you to know that it’s okay to admit defeat in the blogging arena. Greenwich Bored and Razed was not the best way for your voice to be heard about real estate (that’s what this blog was SUPPOSED to be about, right?) I will give you a pat on the back for naming it right. We are Bored!

    Please call my assistant Nurse Diesel and she will set you up for a ‘Correction appointment’ right away.

    • Sigmund “Froid”:
      Oh hush…it’s &@%#ing SUMMERTIME, dammit. Your video link is from the 1978 Mel Brooks movie “High Anxiety”…somewhat amusing, if you like that sort of thing.

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