Floyds "tax issue" for the year, for possibly not fighting in 2010?

[THE REED]

Key word in my post "Some of us" not all.



For the sake of argument, one could argue what Floyd is doing is no different from people who decide instead of paying upfront for things, they rather take a payment plan.

It seems like majority of people in this thread are in favor of always paying upfront for things instead of spreading it out.

If that is the case then,
Why do some of us who have the money to buy the car upfront, instead elect to get on a payment plan to pay off a car, which in the long run could cost us more money....?

You see where this is going?


I wasnt talking some poor guy who cant afford it, i was talking about the people who can afford to do it.

No... it's a ****** ****ing analogy Horus.

You're talking about a guy who could make an ADDITIONAL 30 million this year NET.

Not taxed... 30 million extra he could just put in his pocket.


But he doesnt want too... because he wants to layaway his taxes?




Why are you reaching?

Why are you defending just to defend?

Why not just say, you're right... the tax situation really doesn't effect him?


Because you defend blindly... and when you defend blindly, you look like an idiot.

[Dick Buffman]

Horus.

Just give it up man. It ain't working. Just stop now.

[Deevel916]

Horus, I stopped listening to you ever since u tried to argue the definition of the word "popular", although Websters dictionary clearly states the definition.

You actually tried to say that just because the consensus agree with the definition, doesnt mean its the true definition.

[PrtyBoyDlicious]

The more money you make the more taxes you pay.
Just because you pay the same percentage doesnt mean you pay the same taxes.

What part of the "the tax you're going to pay is relative to your income" you don't understand?

[SuckaPunch]

keep going horus, i'm rooting for ya!

anyone keeping score?

[cupocity303]

.......Waits for another copy/paste rinse repeat of of what he already posted from Horus.....

Cognitive distortion is a *****.

[Horus]

No... it's a ****** ****ing analogy Horus.

You're talking about a guy who could make an ADDITIONAL 30 million this year NET.

Not taxed... 30 million extra he could just put in his pocket.


But he doesnt want too... because he wants to layaway his taxes?




Why are you reaching?

Why are you defending just to defend?

Why not just say, you're right... the tax situation really doesn't effect him?


Because you defend blindly... and when you defend blindly, you look like an idiot.

Great way to avoid the point, and great to not aknowledge you made a mistake in your last post by thinking I was talking in generalities.

The point once again is dont completly dismiss the argument, because the argument does have some validation because it has commonality with people in our society.

Do you understand that what I am trying to explain to you in the clearest terms possible is that ultimatley what Mayweather is doing very common if you apply the idea of it to everyday life.

**** I could write a list of illogical **** that we all day everyday, but guess
what? it doesnt matter because People are not logical creatures.
that is a fact!!

So once again my whole point in this matter as it relates to taxes, something we all hate to pay which has been pointed out numerous things in this thread.

Mayweather and his team have a valid argument what it comes to their distain of taxes that shouldnt be dismiss in a arbitrary way.

[chinoy]

Floyd should have just mentioned that he does not want to fight this year, he may or may not indicate that its for tax purposes though and not keep boxing fans in the dark.....

BUT this excuse will still NOT have a lot of bearing because after $373,650 all of his earnings would be taxed at 35% irregardless if he makes $1 million or $1 billion.....

the tax issue is still NOT a valid excuse

I have seen people around here saying that if Floyd fights Pac in 2010... that his earnings for the fight... in addition to his earnings for the Mosley fight would push him into the next tax bracket.

This would make Floyd want to wait until 2011, so that the Pac fight earnings do not push him into the next bracket, and he would pay a higher percentage.

I myself am someone who has been saying this...


After doing some research (because I am not a tax expert).


There is actually a ceiling on the federal tax brackets..

In other words... once you make a certain amount per year... your tax percentage does not increase... should you continue to make more.

Depending on what you make, you fall into a certain criteria.. such as follows:

10% - $0 – $8,375

15% - $8,376 – $34,000

25% - $34,001 – $82,400

28% - $82,401 – $171,850

33% - $171,851 – $373,650

35% - $373,651+


35% seems to be the federal ceiling tax bracket.

In addition, Nevada (where Floyd lives) Does not have State income Tax.

With the Shane Mosley fight, obviously Floyd is already in this tax bracket, and it is my understanding that any additional income for Floyd (Pacquiao fight) would not push him into the next tax bracket... because another tax bracket does not exist.



What I found on "millionaire tax bracket":

What the discussion over the top marginal tax rate ignores, however (and what Ygelsias picks up upon) is that this rate has been assessed at very different thresholds of income. In 1940, for example, the top marginal tax rate was 81.1 percent -- but this rate only kicked in once you made $5,000,000 or more in income, which is equivalent to about $75,000,000 in today's dollars.

But today, the threshold where the top tax bracket kicks in isn't $75 million, or $5 million, or even $1 million ... it's a mere $357,700(as of 2009, it was kicked up to $373,651 for 2010).

The progressivity of the tax code stops there.

http://www.fivethirtyeight.com/2009/03/missing-1000000-tax-bracket.html

Your thoughts?

[Deevel916]

Great way to avoid the point, and great to not aknowledge you made a mistake in your last post by thinking I was talking in generalities.

The point once again is dont completly dismiss the argument, because the argument does have some validation because it has commonality with people in our society.

Do you understand that what I am trying to explain to you in the clearest terms possible is that ultimatley what Mayweather is doing very common if you apply the idea of it to everyday life.

**** I could write a list of illogical **** that we all day everyday, but guess
what? it doesnt matter because People are not logical creatures.
that is a fact!!

So once again my whole point in this matter as it relates to taxes, something we all hate to pay which has been pointed out numerous things in this thread.

Mayweather and his team have a valid argument what it comes to their distain of taxes that shouldnt be dismiss in a arbitrary way.

Give it up Horus. Reed you already! Your argument is not valid, nor is it supported by any facts.

All u need to know is that Floyd will NOT make more if he waits till next year to have this fight. That excuse has been debunked already! Call it a night.

[THE REED]

Great way to avoid the point, and great to not aknowledge you made a mistake in your last post by thinking I was talking in generalities.

The point once again is dont completly dismiss the argument, because the argument does have some validation because it has commonality with people in our society.

Do you understand that what I am trying to explain to you in the clearest terms possible is that ultimatley what Mayweather is doing very common if you apply the idea of it to everyday life.

**** I could write a list of illogical **** that we all day everyday, but guess
what? it doesnt matter because People are not logical creatures.
that is a fact!!

So once again my whole point in this matter as it relates to taxes, something we all hate to pay which has been pointed out numerous things in this thread.

Mayweather and his team have a valid argument what it comes to their distain of taxes that shouldnt be dismiss in a arbitrary way.

And as you have clearly indicated in this thread when discussing Floyd and taxes, is that not everyone thinks logically.

And that's all I needed to hear from you.

No, it isn't a valid argument.

It's a valid argument to those who follow others blindly and will find some rhyme or reason as to why they are right.

Comparing Floyds 40 million dollar paychecks to a guy making car payments