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

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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

        [ Parent ]

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