Our beloved Boxers should have their Tax burden lowered

[One_Tycoon]

Think you've miscalculated how much boxers pay in taxes mate!!

There is no sure way to know as the progressive tax code is complicated. But the Marginal Tax rate has been raised above 35% last year and Floyd & Manny are upper earners.

[noStylez]

Getting punched in the face for a living while making chump change working your way up. I have to agree.

[One_Tycoon]

no one pays 35% taxes unless your a complete blithering idiot.
i garantee you.
boxers have plenty of deductions to work with. travel, food bills while theyre training. hotel writeoffs. medical costs. to name a few.

Boxers would qualify as idiots. The Loopholes are not good enough.

[Isaac Hunt]

If a boxer moved to and lived in a tax haven like the Cayman Islands but fought in the States wha kind of tax would he pay?

[One_Tycoon]

If a boxer moved to and lived in a tax haven like the Cayman Islands but fought in the States wha kind of tax would he pay?

Cayman islands are only good for hiding money if you're a investor and subject to a Dividend Tax. Not earned income. You can't hide income from a job with your job in the U.S. and your purse publicly posted for everyone to see. American's living outside of the States still have to pay income taxes depending on how much they make, unless they renounce their citizenship.

And then there is this: http://www.reuters.com/article/2013/...97D17U20130814

[LA_2_Vegas]

The highest earning boxers of today are paying less taxes than the highest earners of the past.



Something tells me this has nothing to do with boxing.

[One_Tycoon]

The highest earning boxers of today are paying less taxes than the highest earners of the past.



Something tells me this has nothing to do with boxing.

On paper....there were more loopholes and deductions back when the tax rate was at 90%. That graph is nominal. The U.S. govt is receiving record numbers in revenue...that's the number you ought to pay attention to.

[One_Tycoon]

The highest earning boxers of today are paying less taxes than the highest earners of the past.



Something tells me this has nothing to do with boxing.

Also...you might not wanna take the first picture you find from google and post it immediately as that one stopped at 2008.

[LA_2_Vegas]

On paper....there were more loopholes and deductions back when the tax rate was at 90%. That graph is nominal. The U.S. govt is receiving record numbers in revenue...that's the number you ought to pay attention to.[/B][/B]

How about we just stick to the numbers you made the thread about, instead of muddying the water.

And because the chart doesn't include the last 6 years is that supposed to negate the trend of the previous 80+ that is left on the chart? Because if it would have included 2008 and shortly after, there would have been another dip due to the bush tax cuts. So I'd be happy to find you another one that include that as well. There are plenty out there, but it doesn't matter..

because I see that you agreed with me in your first line; that the rate was at one time 90%.

So with that in mind: Do you think Mayweather would rather go back up to 90% because there were 'more loopholes and deductions' or keep it at the 35% of today [just to use your number]?

[One_Tycoon]

How about we just stick to the numbers you made the thread about, instead of muddying the water.

No you muddied the water by coming in here with a useless graph when nobody was arguing about Taxes from the past Vs present but actually cutting taxes for boxers. But now since you brought it up...it's time to correct you.

You might wanna read this for some perspective:

liberal pundits point out that in the 1950s, when America's economic might was at its zenith, the rich faced tax rates as high as 91%.

True enough, the top marginal income-tax rate in the 1950s was much higher than today's top rate of 35%***8212;but the share of income paid by the wealthiest Americans has essentially remained flat since then.

In 1958, the top 3% of taxpayers earned 14.7% of all adjusted gross income and paid 29.2% of all federal income taxes. In 2010, the top 3% earned 27.2% of adjusted gross income and their share of all federal taxes rose proportionally, to 51%.

So if the top marginal tax rate has fallen to 35% from 91%, how in the world has the tax burden on the wealthy remained roughly the same?

"The confiscatory top marginal rates of the 1950s were essentially symbolic—very few actually paid them. In reality the vast majority of top earners faced lower effective rates than they do today," he writes.

Full read:http://online.wsj.com/news/articles/...51601554982808