Does Tiger Woods realy like Obama’s tax Plan?
Posted Under: Elections
When Tiger Woods collected his $1,350,000 check for winning the U.S. Open golf championship this month, his federal and California taxes approximated $586,000. So, Tiger got to keep about $764,000, or 57 percent of his winnings. …
It was fortunate for Tiger that his most-recent U.S. Open win occurred in 2008. Under twin tax proposals from Obama to 1) remove the “cap” from Social Security taxes for individuals earning over $250,000, a plateau Tiger has long since surpassed in 2008, and 2) eliminate the “Bush” tax cuts, thereby raising the top marginal federal income tax rate to 39.6%, Tiger’s taxes on his winner’s check would have increased to approximately $776,000, a boost of almost $190,000. Instead of Tiger keeping 57% of his earnings and the government taking 43%, under the twin Obama tax proposals, Tiger’s federal and California taxes would have amounted to 57% of his winnings, leaving Tiger with just 43%. …
I hardly think so.
And that will be $190,000 cash out of Tiger’s poclet or another way of putting it $190,000 out of charity and local programs that Tiger would have given the money to.
After all, you can’t donate and give money you don’t have in the 1st place.
So who will suffer the most from Obama’s tax plan? Not the wealthy but local and community organizations that curretnly recieve most of their money from private upporters like Tiger Woods.
Candy - no my arguement is that they already pay enough taxes as it is.
If Obama wantss to give additional tax breaks to lower and middle income eaners, I’m all for it but cut spending not increase taxes on a segment of income earners who contribute large sums of money to communites because all your doing is making those communities suffer.
“Donations go out first from the income when you file your taxes.”
Are you that stupid. When you get your pay check.. the taxes are already taken out and you don’t have the extra money to give as a gonation to deduct from your income tax return.
U make.. I do remember a football player once saying that him and other players were Democrats until they signed there contracts then switched to Republicans.. Just a smart tax plan move.
Anon well were a local community shits it’s doors for providing recrational facilities for poor children because Obama wanted the money to giove to you, you will be a happy person.
Reader Comments
Obama calls tiger wood ..TIGGER
but no
no no
and no
Tigger Woods would not like this plan at all..lol
why should Tiger keep his money, the government wil handle soooo much better.
Tiger won’t care becuase the mega rich will just move their monies off shore and maybe even take up residence on some island so they don’t have to pay U.S. taxes at all. It’s the middle class taxpayers that Obama is going to nail and the small business owners. Many of them will lock their doors because they are barely making the payments now.
Wow. So your argument is that we have to support lower taxes for the rich because the only hope for the poor and middle class is that they will give us handouts? Gee, I’m convinced!
Donations go out first from the income when you file your taxes.
So it is more encouragement to donate to charity from the wealthy, not less.
The only reason you wouldn’t like Obama’s tax plan is if you planned to keep it all in the first place.
Edit- Oh, so you are saying you don’t get to decide how much is withheld on each check by the government?
You should check with someone on that. Because taxes are filed only once per year.
You need to ask Woods for a real answer, but if he is a Dem the answer would be yes. Dem’s aren’t selfish like Rep’s are and Dem’s knows how poor people are treated.
Poor Tiger Woods!
He will have a few thousand dollars less of his millions to spend under Obama’s plan!
I feel SO sorry for him. How in the world will he ever be able to afford to care for his wife and family?
Your story is so deeply moving. I’m going to work against the Obama plan right away!
Your question was working pretty well until you added California income taxes and charitable contributions into the mix. Both though large, are deductible items on the federal tax form, as is the substantial property tax he most likely pays. Your math is simply too simple.
do you think that will bother him making millions i dont think so
I can’t believe people say if he’s a good dem he wouldn’t mind. I wonder if they would mind giving 57% of their income to charity!
If he felt as strongly about his taxes as you do he would at least establish legal residence in one of the states without an income tax. Charitable donation are tax deductible so if he is as generous as you claim he is not paying the amount of taxes in your calculations. There are ways to have income directly donated to charities in your name and so they are not reported as earning to the IRS so there is no limitations on them. Some very high income people think that rich people should pay more taxes including Warren Buffet. Not everybody looks at the world like football players and there are a lot of rich democrats
Next I would like you to analyze the effect of tax law changes on the Hedge fund manger who made 3 BILLION dollars on the home mortgage mess and only had to pay capital gains rate on it because of a tax loop hole put in for people who “create wealth”.