Saturday, January 26, 2013

Phil Isn't the One Who Needs to Apologize

Neal Bortz Jan 23, 2013

Please tell me this is some sort of a sick joke. Phil Mickelson is a professional golfer. He makes boatloads of money. Millions. What’s more, he makes boatloads of money for a lot of other people in the process, including generating massive contributions to charity. He’s a jobs creator and an engine of economic growth, as are many other pro golfers and athletes.

So Mickelson takes a look at his income tax burden, and is displeased. First we have Obama and the Democrats riding roughshod over the GOP and enacting a 4.6% tax increase on the evil rich. Then we have the voters of California doing what the voters of California have been doing – shooting themselves in the foot – by passing a ballot measure to raise state income taxes on the dastardly rich by another 3.32%. Now Mickelson is facing an income tax burden somewhere between 62 and 63%.

Mickelson is a smart guy, and he hires other smart guys to help him make economic decisions. These other smart guys undoubtedly told Phil to put his clubs in a bag and get the hell out of California. Do what most of the other pro golfers have done, more to Florida. No state income tax. Right there his tax burden goes down by 13.3%, not to mention the advantages in estate taxes and ad valorem property taxes. Trust me. I know.  To Read More.....

No comments: