Wednesday, August 01, 2012

why shouldn't they pay taxes on what they earn?

i realize that rubio is just trying to capitalize on the popularity of the olympics. but is there any coherent argument for not taxing the honorariums that athletes earn with their olympic medals? the only justification for a special olympic exemption given in the article is rubio's claim that the tax "punishes success", but all income is a form of "success". if we're going to have an income tax, then taxing success, by itself, isn't that good of a reason. the real question is why are we giving a special tax exemption to specific elite athletes' income that wouldn't apply to anyone else.

NOTE (8/7/2012): i didn't realize until now that the link wasn't appearing in this post. i just fixed it. i hope the missing link didn't confuse anyone about what i am talking about here.