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

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  •  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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