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Old 11.05.2008
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Obama win may force MLB agents' hands
Agents look to beat possible tax increase for clients
Quote:
DANA POINT, Calif. (AP) - Looking ahead to an Obama administration, some baseball agents already are thinking about trying to beat a possible tax increase for their well-paid clients.

President-elect Barack Obama has proposed increasing the top federal income tax rate from 35 percent to 39.6 percent, where it was under the Clinton administration. If signing bonuses are paid before Jan. 1, they likely would be taxed at the current rate and would not be subject to any tax increase.
"It's something we'll consider," agent Craig Landis said Tuesday at the general managers' meetings. "Besides the federal issue, we have a state issue in some cases, anyway, where it's advantageous to take signing bonuses because of the state income tax. A Florida resident can take the signing bonus and not have to pay his team's state tax."
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Old 11.05.2008
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Get ready to open your wallets America!
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Old 11.05.2008
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...and all of a sudden, it's Obama's fault that the most overpaid recreational players of any sport are gonna pay more tax...good for them...I'll learn to play pro for a mere $249,000, not pay any addl. income tax under Obama's plan, and not ##### when I don't get a $12 million/year contract.
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Old 11.05.2008
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Quote:
Originally Posted by beehive View Post
...and all of a sudden, it's Obama's fault that the most overpaid recreational players of any sport are gonna pay more tax...good for them...I'll learn to play pro for a mere $249,000, not pay any addl. income tax under Obama's plan, and not ##### when I don't get a $12 million/year contract.
Heck, I'd go for one of those contracts, but I think I'm a bit too old! I'm also too short to take part in anything but being a jockey!
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Old 11.05.2008
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Quote:
Originally Posted by beehive View Post
...and all of a sudden, it's Obama's fault that the most overpaid recreational players of any sport are gonna pay more tax...good for them...I'll learn to play pro for a mere $249,000, not pay any addl. income tax under Obama's plan, and not ##### when I don't get a $12 million/year contract.
it's not just them, even people who have worked their butts off to mak what they make will be paying extra. being just a "lowly" truck driver osama's tax plan probably wont affect me. BUT if i was a good kid 'studied hard in school and college to make a better life for me and my family and sacrificed satisfaction now for satisfaction later. why the hell should they pay MORE?!!
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Old 11.05.2008
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osama's tax plan
Bin Laden's tax plan???? Holy ####!!! We're screwed!!!
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Old 11.06.2008
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One of the reasons our country has grown to be great
Is ones ability to create large sums of money
And that said wealth is not to be used at the will of the government
History has shown us that this is the death blow to a country and freedom
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Old 11.06.2008
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Quote:
Originally Posted by beehive View Post
...and all of a sudden, it's Obama's fault that the most overpaid recreational players of any sport are gonna pay more tax...good for them...I'll learn to play pro for a mere $249,000, not pay any addl. income tax under Obama's plan, and not ##### when I don't get a $12 million/year contract.

If you took a $249,000 contract you would be in the upper tax bracket. Barry first said 250K then Bone head Biden said 150K then Barry came back with 200K so which is it????? Maybe 42K when he gets settled in????? hmmmmm
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Old 11.06.2008
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Quote:
Originally Posted by The Beeze View Post
If you took a $249,000 contract you would be in the upper tax bracket. Barry first said 250K then Bone head Biden said 150K then Barry came back with 200K so which is it????? Maybe 42K when he gets settled in????? hmmmmm
Biden gaffed...sort of...taken out of context...here's the tax relief around $150,000 per the Obama plan, judge for yourself...
$111,646-$160,972 = $2,135 tax cut
$160,973-$226,918 = $2,796 tax cut

This is how the plan works out, according to the Tax Policy Center, after review of his tax plan. This is a free country, go ahead and continue telling yourself that it'll be $42,000...make sure the tin foil hat is nice and shiny, so he can't eat your brains too.

Barry first said $250,000...that hasn't changed...

He also said $200,000...that hasn't changed either...

What's the story? He said if you make under $250,000, your taxes won't go up...then he said if you make under $200,000, you'll get a tax cut...which, with some Sherlock Holmes-esque thinking, if you make between $200,000 and $250,000, your taxes won't go up or down

Biden was in a discussion regarding tax breaks for folks that average $1.4 million (a portion of the "wealthy")...or tax breaks for folks that average $150,000 (a portion of "middle class").
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Old 11.07.2008
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Biden also said it's patriotic to pay higher taxes. Barry basically said not wanting to pay higher taxes is selfish.
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