Comments Thread For: Mike Tyson Reveals Financial Issues on HBO's Real Sports

[joe strong]

I'm confused...what the hell does that have to do with anything?

he said tyson had the last laugh with the money he was making & i just pointed out that during this time he buried his kid so he wasn't getting the last laugh.

[joe strong]

And why is that? Obviously because they are so much smarter than us and prepared than us....NOT!

For all the people castigating Tyson I bet you do not realize the facts which damn fighters....these facts will also catch up with Money Mayweather, they are inevitable as the sun coming up and the IRS know this which is criminal. Yes they did it to Louis... and RR and almost every fighter who made real money.When they could not get Johnson they labelled him a criminal, so even the smart cannot escape it and for people like the Weebler who think it is irresponsable behavoir that is only a part of the story.

Imagine if you will that you are a fighter and this dude says "your my partner *****" you reluctantly sign on the line and see that the partner takes almost 50% of your gross and does it stop there? you buy a few nice luxury goods, maybe a few houses and a Maybach, well you get taxed on those transactions and pay property tax perpetually. Let me tell you this..do any of you know actually how much tax an entertainer, whose income is all on the table...pays in taxes!!!? I bet after all considerations these guys pay between 75 and 80% in taxes....Most NBA guys are broke after 5 years (true statistic) and they make the most of any team sports.

Now consider that most people you pay are paid out of your net, not your gross....so when you pay your trainer, promoter, etc....at about 20% start to figure what you are left with.

Bottom line is that Mike Tyson was not so dumb as people imagine. The IRS knows with earned income that they can break most high earners which is why very few high earners become "rich." Rich people design their affairs so they make absolutely no earned income....

So think before you talk **** about athletes folks.... I am not referring to the poster I am answering but to you haters who never earned enough to know what bastards the IRS can be.

i'm trying to find you an article from an old sports illustrated magazine. it was done 5 years after tyson got out of prison. it actually has his expenses listed...over 300 million made. 88 million legal fees alone & lots of ridiculous presents & gifts, soaking hundreds of thousands of dollars on pigeon feed(he had a farm in arizona), etc... i don't make millions but i usually pay over $30000\year income tax & it sucks!!!!! i couldn't imagine the taxes they pay!

[Marcov]

Tyson's story is Rags to riches,




to rags, to riches, to rags, to riches, to rags!

[Yoan]

The real question is how the hell did
LENNOX LEWIS end up worth even more than when he was boxing DESPITE not doing anything????
Lewis is worth over 100 Million........... WHAT The hell did he do since retiring? He just sat around counting his money and somehow that became more money.

Lennox should train David Haye.

[Check_hooks]

Correct yourself sir...I can guarantee that with this understanding you will never be rich. Here is the rich mentality: The richest man in China has five sons. He gave them the best education and instructed them in the family business....He took his fortune and gave it away to cancer research....all of it. When asked why he said "my sons have all the tools they need to succeed if they work hard they do not need a loadstone around their necks to prevent them from being hungry for success.

Now I am sure that old man will have provisions that allow for him to invest in the labors of his kids....that is their advantage.

Cool story, kinda like how Bill Gates is gonna donate damn near all his money to charity and only give his kids like 10 mil each

[atomicsad]

They all can't be George Foreman. George is probably the wealthist retired champ.