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View Diary: How Hogan helped Mickelson get rich (128 comments)

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  •  I sent my husband a text about (40+ / 0-)

    Phil's tax whine and surprisingly he "understands Phil's concerns." Bullshit. Phil's a pampered fool. He's a jackass for even considering uprooting his kids from their friends and schools and teams to save a few dollars on taxes. He has enough for several lifetimes...

    And even if Phil has a point (which I never conceded he did) he needs to just shut the fuck up! Retire if you want; move if you want. But shut up about the few more precious dollars you pay in tax that will fund schools and highways and medical care. People would be grateful to earn just the amount he wants to hold onto.

    Thank you for the history lesson -- I'm sending this to my husband. You made the point eloquently when I just got frustrated. I've been a fan of Hogan's since seeing the movie with Glenn Ford -- never followed golf, but he seemed like a truly exceptional and inspiring person.

    First the thing is impossible, then improbable, then unsatisfactorily achieved, then quietly improved, until one day it is actual and uncontroversial. ... It starts off impossible and it ends up done. - Adam Gopnik

    by theKgirls on Mon Jan 21, 2013 at 01:18:54 PM PST

    •  theKgirls - you are right he should STFU (20+ / 0-)

      I think this is primarily a state tax issue. We recently raised the top rate in CA to 13/3%, tops in the US. If Phil moved to Florida he would have no state income tax. It's why so many professional athletes live in FL, no state income tax.

      "let's talk about that"

      by VClib on Mon Jan 21, 2013 at 01:23:25 PM PST

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      •  theKgirls is also right about lifetimes of money: (8+ / 0-)

        WTF Phil?  I have never been a big fan of him, seems a little too eager to use that big smile and wife/kids.

        BUT, that is at least debatable.  What is not debatable is that making $47M in one year alone and then complaining about paying any measely portion of it in taxes is insulting to anyone who thinks.

        Not able to live the lifestyle you need Phil?  Need that extra money for something?  What would it be?  You are embarrasing yourself.  You are damn lucky to make a living doing what you love and absurdly lucky to be paid enough to support thousands of "regular people."

        You will never be able to spend that kind of money.  Your great grandkids will not have to work.  You are proving yourself to be a jackass, really - STFU Phil and go about leaning how a teacher/waiter/hotel employee lives.

        Blessed are the peacemakers, the poor, the meek and the sick. Message to Repug Fundies: "DO you really wonder "what would Jesus do?" I didn't think so.

        by 4CasandChlo on Mon Jan 21, 2013 at 06:46:56 PM PST

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      •  Mickelson was raised in San Diego (15+ / 0-)

        and Arizona. He's not going to move to the humidity belt. If he didn't do it when the tax rate in CA was 10.3%, he's not going to do it now. I'm sure KPMG, who he shills for, can find him a nice tax shelter somewhere. Here's a guy who made $62 million last year, $53 million of which was free endorsement money from the likes of Exxon Mobil. Phil didn't have to do shit for most of his millions. He should be thankful for having made a massive fortune out of playing a game in which he doesn't even have to work up a sweat.

        I never liked you and I always will.

        by Ray Blake on Mon Jan 21, 2013 at 07:22:00 PM PST

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        •  Ray - well AZ is an option but also NV (0+ / 0-)

          The state income tax rates in Arizona are much lower than California and in nearby Nevada they are zero. Phils income is all earned income, little capital gains. The days of being able to shelter earned income ended with the Tax Reform Act of 1986. It probably costs Phil $3-5 million a year to live in California that he could save if he lived in a state with no income tax. It's not surprising that he is thinking about moving. My guess is that he tax advisers are giving him a big push.

          "let's talk about that"

          by VClib on Mon Jan 21, 2013 at 09:34:00 PM PST

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          •  The Nevada option has been open to him (1+ / 0-)
            Recommended by:
            elginblt

            forever. Why didn't he complain about the previous 10.3% rate and move before? That's three times the hit he'll take on the Prop. 30 bump. I'm guessing that living in Rancho Santa Fe appeals to him more than Vegas or Lake Tahoe, where the temperature differentials are severe. Mickelson is just whining. He's not going anywhere.

            I never liked you and I always will.

            by Ray Blake on Tue Jan 22, 2013 at 12:30:58 PM PST

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      •  But hey, state inc tax is deductible from Fed (1+ / 0-)
        Recommended by:
        elginblt

        So it lowers his effective tax rate.  ;-)

        My Karma just ran over your Dogma

        by FoundingFatherDAR on Tue Jan 22, 2013 at 11:13:06 AM PST

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        •  FFDAR - I think the new tax law has a phase out (0+ / 0-)

          I haven't read it with care yet, but there may be phase out at high incomes so that state taxes aren't deductible. If that's true, and the state rate has moved to 13.3%, it could be costing Phil an extra $5-6 million to live in CA.

          "let's talk about that"

          by VClib on Tue Jan 22, 2013 at 09:03:48 PM PST

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    •  I think a lot of people find tax in excess of (2+ / 0-)
      Recommended by:
      nextstep, bumbi

      50% to be unfair and, like the similar feeling re the estate tax, that feeling probably cuts across parties to some extent.

      •  And so few understand that it's not 50%. (7+ / 0-)

        They see a tax rate like that and think it's 50% of their entire income.  They should be asking for even higher tax brackets to be created.  It's absurd that once you cross even $500,000 that that's the highest rate you'll pay.   Of course, those higher rates need to be combined with incentives to invest that money back into business and other ways that put that money right back into the economy.   That's how it worked when we have 70%+ tax brackets.  No one ever paid anything remotely near those neighborhoods.  C-suite exec's did take all the money home either.

        The priest said, "Today's sermon is called 'Liars', but first I have a question. How many of you have read Chapter 66 in Matthew?" Nearly every hand went up. "You're just the group I need to speak to," the priest said. "There's no such chapter."

        by Back In Blue on Mon Jan 21, 2013 at 06:03:10 PM PST

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        •  with the top bracket hitting at (0+ / 0-)

          $450, it will be more than 50% on virtually all of his insanely high income.

          •  The top bracket is 39.6% (2+ / 0-)
            Recommended by:
            greengemini, elginblt

            And I'm sure he has plenty of financial opportunities, tax shelters, havens, trusts, etc. to secure quite a lot of that.

            But you said it best—his income is INSANE.  Even if it was 50% and no possible tax avoidance allowed, he's still making tens of millions of dollars.  No one is going to walk away from that unless they are an idiot.  But then again, he is an idiot. C'est la vie, Phil.

            The priest said, "Today's sermon is called 'Liars', but first I have a question. How many of you have read Chapter 66 in Matthew?" Nearly every hand went up. "You're just the group I need to speak to," the priest said. "There's no such chapter."

            by Back In Blue on Mon Jan 21, 2013 at 09:32:01 PM PST

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            •  BinB - for US taxpayers tax havens do nothing (0+ / 0-)

              For someone like Phil who makes his money primarily from endorsements it's all 1099 income. Post the Tax Reform Act of 1986 there is no way to shelter it. Even if his sponsors deposited the money in the Cayman Islands it doesn't help, the taxes owed are exactly the same. He can effectively use trusts to shield some of his assets for estate tax purposes, but Phil doesn't have large amounts of capital gains or other income taxed at low rates. He is paying full freight and that includes $3-5 million more for living in California rather than Florida or Nevada. Even when you have the kind of money that Phil has, that is an amount that will get your attention.

              "let's talk about that"

              by VClib on Tue Jan 22, 2013 at 08:59:51 PM PST

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      •  Oh. You again. Interesting that you appear (2+ / 0-)
        Recommended by:
        tobendaro, elginblt

        not to understand the concept of marginal rates, she said dryly.

      •  Yea, god, (12+ / 0-)

        having to help pay for the country that is so great you can play a game and make millions because the populace is educated enough, healthy enough, to make money to pay to see you.  Yea, gag me.  All the things that government does to make the country a success is definitely not worth investing in. Especially if you are a selfish asshole.  Then you should get to do what you want.  Because you're good at golf.

        Everyone! Arms akimbo!

        by tobendaro on Mon Jan 21, 2013 at 07:33:51 PM PST

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    •  thecKgirls (8+ / 0-)

      Taxes not only fund thebthings you mentioned, butvalsonthe roads that bring his adoringbfans to watch him choke. Sorry, play.
      And many golf courses are built with tax dollars.
      The big pro names like Nicholas and others, get subsidies  to build courses named after them.
      Jack made a huge stink about not getting funds.
      One would have to Google it to find the story.
      Not only that, Phil's f-ing rant about having to pay a bit more in taxes is more insulting when you think about how high ticket prices are to watch him pay.
      Even when he doesn't win, he still makes a lot of money.
      People who come to watch him and others play often save for months to buy the tickets.
      I was one of them a few times.
      He is disgustng to me for his rant.
      And his ad on his toxic Arthritis ad, with his smiling parents and kids brings in how much more money?  
      He disgusts me.

      America never needed so much in the last election and got so little.

      by snoopydawg on Mon Jan 21, 2013 at 07:47:51 PM PST

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