Editorial: "Medal Tax" - WSFA.com: News Weather and Sports for Montgomery, AL.

Editorial: "Medal Tax"

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By Collin R. Gaston - bio | email

  • Editorials

  • Thursday, May 16 2013 7:20 PM EDT2013-05-16 23:20:04 GMT
    In my editorial on Tuesday I chided our legislators for being the last state to pass a no-brainer  bill legalizing home brewing.  Today I want to challenge them to be one of the first states to pass another no-brainer;
    In my editorial on Tuesday I chided our legislators for being the last state to pass a no-brainer  bill legalizing home brewing.  Today I want to challenge them to be one of the first states to pass another no-brainer;

  • Tuesday, May 14 2013 7:20 PM EDT2013-05-14 23:20:07 GMT
    Kudos, or perhaps, cheers to the Alabama Legislature for passing HB9, the home brewing bill. Legalized home brewing may not be up there with education reform or prison funding, but it was overdue. 
    Kudos, or perhaps, cheers to the Alabama Legislature for passing HB9, the home brewing bill. Legalized home brewing may not be up there with education reform or prison funding, but it was overdue. 

  • Thursday, May 9 2013 7:20 PM EDT2013-05-09 23:20:06 GMT
    What was the old Pan-Am gas station at the corner of Bibb and Coosa is now no longer.  Last weekend that landmark was demolished with nothing remaining where it once stood other than the outline of a foundation. What
    What was the old Pan-Am gas station at the corner of Bibb and Coosa is now no longer.  Last weekend that landmark was demolished with nothing remaining where it once stood other than the outline of a foundation. What
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MONTGOMERY, AL (WSFA) -

Senator Marco Rubio says American Olympians shouldn't be subject to IRS penalties for their accomplishments while representing our country in the Olympics. The Florida Republican introduced legislation in the Senate that would exempt medal winners from taxes. If Rubio's bill is taken up and passed in Congress, it would apply to medals won in this year's games.

The United States awards gold medal winners with a $25,000 "honorarium" cash award, silver medal winners get $15,000 and bronze medal winners receive $10,000.  This money, as well as the value of the medals themselves, is considered taxable income by the IRS and depending on the athletes' income they could owe as much as $8,750 for each gold medal they win.

While it's hard to feel sorry for the multi-millionaire athletes or the mega endorsed Olympic swimmers who have to pay the taxes it should be stated that millionaire Olympic athletes are in the minority.  The majority of athletes and their families have undoubtedly sacrificed vast quantities of time and money to achieve greatness. 

Let's reward the athletes and their families for their years of sacrifice. Let's reward them with honor, pride, and gratitude, and not with an additional tax burden. 

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