United States kicks China’s ass in Olympic 2012 medals – IRS to collect $672,100 from winners in taxes

obama_snobThe 2012 Olympics are finally over (except for the closing ceremonies). The US kicked China’s ass in total medal count of 104 medals to 87. USA won 46 golds, 29 silver and 29 bronze medals. Now the tax man is coming to collect their taxes from this medal winners who competed for the US in London. With every Gold medal (and prize), athletes will have to pay the government $9,000 in taxes. With 46 gold medal winners, taxes on these athletes will be $414,000. Winners of the silver medals (with prize) will pay $5,400 in tax per medal. That will come to a total of $156,100. US Athletes also won 29 bronze medals. With taxes on the medals on prizes, these athletes will pay $3,500 per medal/prize for a total of $101,000. The grand total of taxes for all gold, silver and bronze medals will net the government $672,100 in total taxes. Athletes who busted their asses for their country get to pay over half a million in taxes. At least Gabby Douglas will be a rich women from these Olympics.

The best news of all is that NBC’s lousy coverage is finally over! Yippee!

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August 12, 2012 · Filed Under Taxes


Comments

  • bricko

    And…..they need to pay taxes….just as you and I do.  What makes you think they shouldnt have to pay taxes on monies they receive.  Should Shaq need to pay on his 40 million?   Why dont the rest pay on their 25,000?

  • http://pulse.yahoo.com/_YOAMPOWVPWYTNAAEX5J2ML7DYI Tommy

    Now Mr. O can call China to apologize for USA beating China in medal count.