Simple, the money. Follow the money. The enviable income of a top PGA Tour pro serves as a great example of what will happen with Barack Obama's proposed tax plan. For an example let's look at this week's tournament, the Justin Timberlake Shriners Hospital for Children Open. The winner receives $738,000.00, a good chunk of change, but by no means on the higher end of the PGA scale. Obama proposes a minimum 39% federal tax whack from that guy's wallet. The winner's best case scenario after paying Uncle Sam leaves him with $450,180.00. Still not chump change, but pay the caddie his 10% winning fee. Now it's $376,380.00 after tipping his Tonto $73,800.00. Next in line are the state and local tax collectors. We'll figure 15% to be fair and advise him to move to a state with no income tax like many have done. $110,700.00 to the locals leaves the poor bastard with a measly $265,680.00 minus his instructor, psychologist, accountant, media rep, hotels, planes, day care and golf balls. Oops, balls are gratis.
I'm not advocating that we feel too sorry for the poor pro. I'm just pointing out what paying taxes will be like in the higher echelon of earners. $738,000.00 just doesn't go as far as it used to. Additionally, don't be so sure that you'll escape the tax grab because you don't make near as much as Joe Pro. Obama said 95% of the population won't have their taxes increased. What he didn't say was that 30-40% of Americans don't pay ANY taxes at all. So, the 5% that will get hiked may just include you as a part of the now smaller tax paying pool.
I'm not endorsing any candidate. In fact, I'm still among the undecided. I haven't made $738,000.00 yet this year so my choice isn't as clear. I'm just trying to shed a little light on the stupefying numbers we see everyday and show how they relate in the real world.
Til' next,
Go Red Sox !!!
Friday, October 17, 2008
Why P.G.A. Tour Players Will Vote For McCain.
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You think taxes are the only factor that they'll look at? If they don't trust McCain's economic policies, they might calculate that the Tour could take a much larger hit in purse sizes as more and more sponsors go under or pull out. That said, wouldn't it be seriously horrific for McCain if he couldn't count on the PGA vote?
ReplyDelete"That said, wouldn't it be seriously horrific for McCain if he couldn't count on the PGA vote?"
ReplyDeleteWithout question, it's the one solid demographic he's owned. He-He. Truth be told it's just the Alaskan PGA contingent that's a lock.
I'm just an humble Brit who has frankly been bored senseless by how long the American election process goes on for. Ridiculous. It's a process that was designed for the 18th and 19th centuries, with maybe a dollop of the 20th. But 21st - no way. Amercia needs leadership now and has done for the last year. But hope the PGA fraternity don't instinctively go McCain. Looking at the bigger picture if he gets to power there might not be the riches to be had from the road to Dubai - he'll probably have invaded someone.
ReplyDeleteJohn
You're not the only one bored. I'm almost at the point where I'd vote for Donald Duck just to get the whole thing to go away. Cease and desist! The day after the election the winner will start campaigning for 2012.
ReplyDeleteThanks for the opinions. It's nice to get a third party view of what's happening here. I have my own concerns about Dubai that I posted some months ago.
well they will vote for Mccain
ReplyDelete