Should Americans who win Medals have to pay taxes on them?

Great another. Rage of the decade shots and they. Know. I'll create. Yes he's very. You can write the -- and I'm a setup that -- the outbreak of the decade. -- I mean wouldn't women had a long on -- up bucket there really renting out the good. That this country the United States is why. To get back up just a matter. So you know we've all been celebrating. The great victory. From high school students like -- frankly. I think Franklin. It's taking a film -- glove and I think he even took bronze. This where is all pretty gone -- as of yesterday the fourteenth ran to the feds and he has why. I had no well I -- to win a gold medal at the -- not much time and money they have spent. So that they can become the best represent. Red white and blue represent the United States of America at these Olympic Games. So it's 25000 dollar honoraria. Gold medal now argue that's not -- lot of money. And that all in the three grand. 8986. Dollars. That's the bill from the IRS. That every gold medal. Asked who gets this honoraria and it's going to be that way. And as high school student and again -- would lot of money I didn't even pay her coat for the year. But she's -- only IRS. 8986. Dollars. Are you ready this is not just about honoraria and as earned income. She pay tax. On -- value of the gold. In the medal around her neck. That. Her name on that point I rank. This that you of the gold in the metal itself gets taxed. This or metal tax comes to 5385. Dollar as the bronze medal taxes 3502. Dollars. ED the two bucks for the value of the bronze. Unbelievable -- all these teenagers and athletes that are coming back from the Olympics it. You know victorious. Representing the US -- today getting get whacked with a -- tax bills. Serious. Ways in which people have avoided taxes I mean Kerry had instead. Million dollars yaks. Any -- to avoid the excise tax that we all have to pay here in Massachusetts and there is some sort of discussing outdated tax code. When there's only is Alice ceiling to how much you would have to pay an excise tax. So seven million dollars and pay it on seven million happy with the ceiling has been snowing -- close to seven million dollar that is all. It's. Snapped out of -- deceitful way paying that excise tax. Lawmakers come up with ways in which to circumvent. These burdens on tax coats. It appeared that swimmer. Misty Harrington and boy you -- Michael Phelps going to hear what. How petty added to tax these olympians. On the value of the gold in the metal itself has its aid. You ever 61726. X 6868. Because. Another reason why. Senator Marco Rubio should be line -- on the short list of VP nomination here is why. Because Marco Rubio who the hell -- -- and -- three names that are being. And now push out -- a little bit Paul Ryan's no war. Tim Pawlenty. Give me I mean who nobody would need to take add bill PM Pawlenty would put us all right eight to sleep. Talk about boring has about as exciting as the list of movies that the critics came out was just mentioning his name puts me to sleep. Honestly Chris I mean I think we both need. Some chocolate covered espresso beans are a Dunkin' Donuts iced coffee right now because yeah just -- meaning Paul Ryan boring. Tim Pawlenty boring. Marco Rubio got a little bit counseling today he introduced a bill to eliminate the federal government's tax on Olympic medals. Because again. As Marco Rubio said very eloquently. This Levy is yet another way for the government to punish people who would do on the right thing punish people who succeed. If these succeed here and the Commonwealth of Massachusetts they take you on many of you paid the DE BT card holders to go pick themselves out a trance stamp. What some pull it. And we will talk about dvd upon later in the show. The right thing to do would you agree. 6172666868. It's tax. On any athletes. -- athletes. There. If they air. -- be taxed money attacks and want to know earned outside the United States. -- that's the -- charity line how did Patrice Ernie only you know and a pain a small fine and a couple of days in prison. So that twisted -- knife in -- case is that most of the other olympians from other countries won't pay. Taxes. On their medals because America as one shocking. And America is one of only a handful of countries. Which taxes. And I used my quotes here. Worldwide. Prize -- and earned overseas. Serious. So does. I am I he handful of countries that attacks worldwide prize in Conway one of them. -- immediate petty isn't charged the the Libyans to bucks for the bronze that in their medals. These tax bills a 25 grand us people us and that's not always trying to buy -- shop okay. States that I granddad -- come. Close. To matching the funds that d.s. Athletes parry and in this sponsors have ponied up to make sure that they can represented us in the way that. -- Harrington has Michael Phelps some of the other olympians have. Any -- did they come home to a 101000 dollar tax bill. Nearly the wine. Gold medal won gold medal. 8986. Dollars to the IRS silver medals. Don't want to silver medal and now another reason. Because that taxes I've 1385. Dollars the bronze 3500. In two including. And that cute Dallas folks is that the value of the -- that's not. Rubio had this righty. Yeah. It's Geithner is in BC India with a -- out and Rick -- did. And gold medal winning Olympian to he and 2986. Dollars is absolutely positively. -- these numbers aren't saying. So. As Marco Rubio does do you think. That this is just another way for the government to punish those who are doing their best this is another way -- down. People who actually accomplish. A goal without the well. -- government. -- got -- I totally support this. And I help everybody supports I hope that's got brown and John Kerry's support this legislation. The athlete should be coming home to big fat stiff tax bills -- Dick Hillis. A classic example of the madness. In which we are getting whacked every which way it turned tried to do know. Because they don't read today I think it's pretty clear I even know that these olympians and get whacked with these big tax bills to do. I added I I welcome. Are they without turning to an article about it a freckle on the other day about accepting honoraria and yes. -- I don't expect the honorary opera you ought to stay amateur because that's -- -- college. Well there's an end this problem because you want to -- herself nine arraignment. Right site but she definitely want this woman call that an -- that Iraq lower bracket. I'm not gonna platter well. Well I mean it applied to everyone house John gets a gold medal I am I mean whether or not today's honorary Amazon. As a moot point in the discretion do you think that if she did take it she should. You know have to duped Tim Geithner the tax cheat with 8009 -- six bucks. Now -- Arabic that hypocrite I'm. And that's all why did I mean where wanted to hear all the countries that tax worldwide prize in time and not. -- Money that Ralph Lauren robbed robbed from the Olympic Committee by making those ugly. -- parade uniforms for two grand a pop -- there were actually manufactured in China this is marketing. I hold bundles of money. In a windy again whacked with a tax bill for allowed the honorary. -- -- Should any uniforms by the way John if we're gonna mention you know belongs. Are ugly as well though -- Nike what's American about those great Nike uniforms in the green sneakers at the gym is wearing. Right now now it is all about how about the money all of our money. It's disgusting pigs start for the and the Dexter said. You think you've got a gold medal for your hard work you're at lettuce is dedication to the sport you'd think you got a gold medal win that gold medal. The government won that gold medal for -- so that's why can't we don't. Well -- -- 8900 its Xbox. And that includes. The value of the goals and an analyst itself could be a break and do you support this legislation. -- show it which I understand visit. Results Dutch wind at their leaders that he did not built. If not great but dirt lot of people that's where along with him you know that you interpret that. -- -- I mean fit exactly now an athlete who is very close to me and -- had a very stellar hockey player just said to me I've never wanted to finish -- more in my life and now. Because. The incentive to -- and first when you gonna have to come back to these stiff complicated tax bills. Completely -- he's like okay give we give being granted a you know thank you. But the bacon you know something tangible. And -- third packet being so gracious so it'll look to the real moral taxation. -- -- -- Harassing him -- -- -- -- President Obama called the olympians as they call that girl Alley rice men in need of an -- gets Needham has gone and seen right now. -- -- -- -- You know I was so proud he -- have. Come back and I have to worry about those pesky taxes but instead you know Geithner doesn't pay his own Jackson have a hand now. Well I'll let Hillary's supposed are there are presented in which. Come together dating to spy on eight exodus of already there on the awards reps -- this country so. Then you break it out but thank you for the I mean. Marco Rubio has it right today he introduced a bill to eliminate the federal government's tax on Olympic medals because he said. This Levy amounts to nothing more than another way for the government to punish people who succeed and I agree with that that's the larger issue so well in this country. Queue gets broad. In what we is key not Aaron Nat does the honor. And in applying these Olympian and then having handout as the federal government to take -- weddings. That's the question I have produce 61726. X 6868. I mean should be a tax imposed. Lionel Olympic Medal winner I ask you while 6172666868. How did ergonomic gold exactly -- the metal. They actually tax that's -- -- Crazy we get up with a name of that tax help me out 61726660. It's acted on jumping. Welcome back -- then this is an atomic. Love it the real twisted the -- in this -- first of all you know. It will one of only example in countries that actually -- attacks the paltry. Honoraria and that our Olympic athletes. Are taking with their gold and -- they'll earn their bronze prize income. -- what are the only blood. They and it hit these athletes many of them teenagers high school students with these stiff tax bills. The tax breaks that we have given to little lights and they're banked in the -- and Wall Street cyclones -- -- and pay taxes. But miss Harrington. If you weren't too except the 25000 dollar honoraria and the swimming she did all of that of 2986. Dollars. It's older well I think -- about to become in second. Because he'll hold a 1385. -- in the Bryant's third place 3502. Including this -- to college out of the value of the bronze in the medal itself. And I -- So rubio in yet another example of why he should be topping the list of Mitt Romney's BP gets the veep picks. Cannot legislation. That would eliminate that tax he called it another way that the government tries to punish those who succeed. Great. -- mean this ridiculous tactic the and you are next welcome. I'm good good they had an article on it debilitated so he had 6% golden -- 94%. Like Spiller in October so it's not even all old. And. -- calculate how much money the gold medal winner actually owes the -- acts. -- had to make good financial decision because it's changed -- issues and scholarship and that's scholarships -- fifty grand out the attack. If she accepts the medal she can't -- You had this policy so. In an extension make -- good financial decision by not take the 25 and then the other point is. -- -- in just about everybody in Obama's tax job and I mean Cameron does that tax problems of their -- they don't even pay. And now it exactly and you just hear President Obama now -- phone call to need in zone Allie writes meant. You think -- gold medal for your hard work determination dedication. Aaron -- gold medal and they gave you that old Natalie yeah. -- -- I'm with the idea and I think you like as Tim from Boston just said. No one Derrick Phelps mothers always cried after you -- Michael Phelps -- just processor now denying grant. I thank you Danny. The ball -- to -- a -- that from The Sopranos you'll line. Leave you paying me you want and bleep you pay me. It's tactic. Did all he. -- did -- go all of Obama to call these olympians say congratulations I mean did -- keep balance Chris Obama talking about how to breaking ahead. I don't on that team I break my head. Chris did you -- I'd hate to say it I couldn't help myself but when paired obamas and a -- -- one of those balance -- I he I would break my help and didn't she'll get an immediate image of him. Attempting to balance -- Not -- I mean I was kind of openness mean that's kind now open. Then there -- attacks as a cardinal calls that I need a break Charles do you agree -- Marco Rubio this is another way to punish. People who succeed I mean -- record -- the American flag even though they have made in China on the inside their labels of some that -- problems. Emerging the American flag in -- whacked. Hi Charles welcome. -- I don't understand how they do what they do. So -- put all these young ladies those congratulating him. How have you not bust your -- Every time you -- that well balanced and I couldn't walk across that balance it. So anyway -- that we could not be prouder of them. We did not proud of them because that means the federal tax coffers just got fatter. Because every one of those girls who -- 25000 dollar honorary him in the gold medal to go let it. Have to pay the tax on the gold. As small as it is in 8986. Backs no wonder Michael Phelps mother cries every time. He went to -- nine grand what do you think spread enacts an -- -- out. In my in my first court that's why wouldn't the gold medal. Just people. Well I think it classic -- right Alfred I guess they probably be our. Rich people -- the region deeply critical for a possible would call us with caution march. Has as medal but playmate but Smart well. -- no big thing dollar bill is for the taxes on the honoraria and yet. When you win the gold medal. The other thing is if you recall and over treatment -- You know Virginia Jack I like it -- six -- -- artwork so are striving to sell tax and exactly what this is. I mean you don't. If you look TU EU coming -- -- your entire life to being the third best athlete on the planet in he's still a load 35 grand to. I'm sorry 3500 to hire us. It -- -- the second that's the others expert had. Unbelievable. But the striving to succeed Jack like if Fred -- -- -- -- acts on the stump speech I gave. Amos. I'll probably the fact that I think the way we need to approach it is payments. Decouple the -- it's a penalty those who don't contribute it's not -- This -- the job that I get GQ -- that the penalties for computer contributed. The intruders not a great -- It's not bad but you know I like this on from the air wing place -- showed it the government is in right. A mission all -- arrogant about president once again. Inserting himself these people must be amazing debate itself but he can't. Put himself right in there instead at saint. What a great achievement by these women and buy these men -- beat -- -- -- -- of the bat that well let's -- Even -- couldn't do that beat Turkey -- one ball. Why you have a way you know Chris Matthews said he's. So. That's -- the best. He's the best president Christmas perspectives about perfect Obama is because -- That DL way to. He has no idea what -- -- that the the only. Hot. Stick a deal leader that's a good tax name. Our right to act named Dave on NAFTA in light of the fact that Amy Bishop took a beaten at the end of the cafeteria. Tray in jail. The best name for that to actually decide copy of the professors -- the book about Amy Bishop to Kris Roberts like scientists. Turned killer. I like at the on stupid dear leader tax because this is. Here parents as well hello there kidnappers or not he's -- got -- done spoiler alert spoiler alert. As a girl from Wakefield. I went to Wakefield. Who is now the world champions. Matt Harris and she took the Olympic gold. And judo. And if she takes honoraria and that comes of that gold medal that's gonna -- -- 8000. 986. Bucks now why there. Michael Phelps mother's -- instead Abbas said this should be. Hey I wish it came in fourth tax. Thing need to meet this text because as -- being tested. -- -- is one of only a handful of countries which taxes worldwide prize income earned overseas. Yeah Steve you are next welcomes did. And show how -- -- -- make a whole lot of some. Income people are receiving and they have the code from. Now why should they didn't -- -- Because they're defending America -- if our military in America and they think Lester. So I don't know -- also urged the symbolic and emotional. There are higher. And people making over to a thousand dollars. And a paper -- if you're a card or. Maybe art article. Actually it's I mean look these are athletes that are going for the gold over there they have dedicated their lives in just like the military has. I believe me I don't think the military -- being contact either I had my Brothers anybody who was right now serving an active. War should have to -- contact their. And honored and we're serving our country and should you sir I juries really. Welcome on important outlawed. And men -- iron from all your. In fact it's a surprising turn Jackson we weren't the only countries it and no no no no income so you wouldn't incumbent upon. You -- Iraq is in town pride and oh. Didn't show it would be paying income on out of the car. -- -- -- And going on the prices Friday in winning a vehicle and representing your country going for the goals. -- -- back to the United States of America. And don't let him out a secret but. -- actually. -- And companion and a very important Obama -- income -- And why shouldn't -- American are. Important and I don't care it's doesn't make up and encourage. And take one. I don't understand that they make so the killing. Them and only issue. Because it's a punishment for succeeding it's a punishment fits exceeding it might agree with you very rarely eat. So Crocker didn't. There's a -- like they eat up to me Steve explain T how I'm all. Right -- LA. Shall and I believe he -- to me explain how Brack Obama about his friend that. Whether it -- attacks three. I -- not she is completely tax free didn't pay nine how these companies that high. I there -- profits overseas in this tiny up -- many companies do both parties making income and from I understand what. -- -- -- -- -- -- You mean a little all -- John Kerry used one of our United States and hers when you already learned that -- million dollars he got in a different state Steve. Subject. And you're not giving a reason behind Utah which peaked at an exception why why -- -- extension but the military does. And trying to start an outlook is not my -- Police and so. -- sort and I -- Talk about it it's completely different arguments. Legally different argument just like yesterday you are arguments when he called in yesterday about chick -- -- arguments. But they use it for the Greg you are next on jump each have a right to migrate. Yeah -- -- Olympian the issue is well more complex than your speaking out. We cannot. Compensate financially our athletes and any. Resulting. -- would be considered income. If you did not pay taxes you'd be subject to being a professional athlete so that's why we paid taxes all in the middle innings. Grant full prize money export our debt that plug -- support our media. Income from medal winners -- airline tickets -- support clothing. And do you know any. Problem at all and and Frankfurt -- way out thank you for represented countrywide would -- now up for. I yours -- a Gallup IQ. For joining us any talent and problem if if misty pairing -- Franklin excuse me -- Franklin. Aquila Harrington from Wakefield a big fat endorsement deals and Nike's gonna put him on a billboard. -- of -- and taxes but is -- awarded the -- -- come in the only countries in the entire world that. Actually -- -- olympians with this attacks in a penny to dollars for the bronze in the metal itself mine brag. Great the other issue is that our olympians are under pressure and not supported by the electoral. We did not receive any funding whatsoever from the US taxpayer. Receive from corporate sponsors or private donation. Now I really need that it abundantly clear and that's why is all the more galling that the Fed's rate that you're -- texted Tim Geithner has as Paul mile. When these athletes get back. Well it's do we we know going -- you know what the situation is that Italy has started in 1996 -- there was actually any money on the table. You know -- a medal so all year prior to that. -- 1896 so that -- It's just the glory of winning. -- makes it great. I I have to thank you Greg and it is a Gloria winning and that is what makes a great it's not about the money from these athletes of course it's about the glory however I think Marco Rubio has their right. These ideas that. They come along they feces stiff tax bills. It's complicated it's bird and some as Greg the Olympian just told us. In debt tax impose our Olympic Medal winners is a classic example of this madness. Now rubio want to exempts the honorary him in the value of the Olympic Medal itself so the two bucks. That big wacky for the bronze. Would be exempt from any federal taxes what's -- without we're not talking about. Endorsement deals we're talking about a prize. That they want to be in the best in the world Steve what do you think your next. -- -- -- -- -- You know all we need you know we need distraction -- every child that wins -- trophy. And out. And you guessed that slap a tax on every thing every single person ever wins and their entire life. I mean you don't want how ridiculous. This. Bet that they have to act. Like -- side -- at all that they want some -- happened in the bulk metal and it happens to be worth Al large amount of money it's still an award. And you know it's still something that they've burned on their home. Now don't. Honoraria and Stephen to give me for not knowing this but is there an honorary and that comes with winning for example the Nobel Peace Prize. I believe. It's an on honoraria and I believe it's like a hundred -- 160000. Dollars. Now do you think did the present -- United States when he was aware he was the recipient of the Nobel peace product. Up to keep that tax on honoraria and that a guy. Do you mean on day eleven in office even though it yet to be nominated like three months prior or something. That that thought -- -- that award but he got. I'm not sure exactly what a input data honorary him. Bombing really give a lot of money to the reverend Jeremiah Wright. -- And they weren't -- -- the what he rapper -- -- -- -- -- and they're quite generous with our tax money. Went when they want to give that away just aircraft friends. Exactly. How about Patrick said it's impossible to enforce EDT reform ending his body Charles Murphy said. We can't tell these people how to spend their money. They just -- stayed airborne and all I would actually -- On the Victoria's secrets. I mean I don't know if let's say they -- EBT card holding prostitutes goes out to Victoria's secrets in an effort. To back increase her scalability -- Yeah right. -- a -- it's -- truly -- and you know it also and it all came out he said you know I don't want issue bully these people. -- -- -- It on the -- situation -- being -- -- -- that out outweigh elect Barack unit itself just on America. Too little at all. The you know it generosity. Pop art -- oldest treat to be embarrassing and out I mean we witnessed plenty people who really need -- At our -- -- to go to our whether people are able well -- -- and that's. So -- church ball. I would target but I mean steeped in screaming crowd I would not talking -- come. Look at if and a Harrington from Wakefield gets a big fat endorsement deal god lover I hope she does. She should pay the taxes would talk about -- rides we talk about being as petty arrested charged to acts two acts. As attacks on the bronze in the -- I mean it's pathetic don't you think you're armed with Michelle McVeigh. The well according to the Washington's. Oh probably. The the Olympic what is the gold medal received 25000. So we'll what -- wins 151000 in the bronze went. We and so 101000 from the Olympic Committee. Right so they wouldn't think this certainly would be able to pray that tax so there. I mean -- -- -- the bride comes in with a modest price it's 101000 houses that honorary and to being to go and devoting your entire life to be the third best athlete. On the planet. In your chosen discipline but the IRS is still gonna take 35000. All the that they make you very much but it. The Leo what -- on volume an agreement with the the -- took two of exempt them from that takes. Because the when Clinton -- mostly -- the money. What are they just pay the tax upfront then send in the bill of Lehman. That's very good idea I mean it's gonna happen next time an athlete winds. Like if I -- winning and believe me is never gonna happen you know -- allow elected on a little program now can you just give me the ribbon and actually want the metal. Just the red and like I try to -- -- thing that I won the gold because they can't really afford the tax on the world. Or actor or you can get a pitcher -- Ridiculous Jim I even know that these people getting it right. I am sure he did Patrice Tierney have to pay for laundering millions. And her brother was earning and that offshore gambling. Rico conspiracy. I don't think it was very much how -- was as much as what Michael Phelps is gonna oh. I mean I think now I'm -- map that attacks are at the malevolent attack science and -- a lot of it utility. When Michael Phelps came home in hole eight he -- the -- like 64 grand. If he took all those honorary -- I guess no dying you our next big -- for the collier next and John McPhee show. -- -- -- -- -- -- -- -- I'm moderate tie -- text prepare. We we will look at your expertise on a man -- more on I had -- -- well -- stuff I just electron. I don't know I -- IRS can put attacks on a moving target a neighbor called gold. Right fluctuate day to day actually out what to outlaw. So how are they important -- but at that acts prepare. These young people bitten train in their back yeah. They aired co two's screen is they probably I -- private trainers maybe sports -- it is. You know -- is that -- specialized. That wedding injuries. They come to a great travel out of state. Is they get the appeal of competition. Great great thing he's so we did that twenty or. From the the is to -- incumbent IRS has come up. Does it really is no acts yeah. Broke -- you know like I got time here Steve -- biggest -- -- -- parent -- it's not earned income they -- he. To perform a job they won -- prize now isn't down John has there as a tax prepare isn't that doesn't it get them off the hook that this one earned income point. I would made. Is there is no income unless they decide to sell -- gold medal but -- -- I would like them make that point. These people trying to. Ali a young lives and they want now and oak lawn of the US eight on the world stage. And more -- glory. And in the UIRS stepped up and says congratulations. If there is. Congratulations you owe me 9886. Bucks Michael Phelps times how -- what does he have the -- in the world now. Time Michael Phelps is probably pay more federal taxes on his gold. Then I noted they did a Texan wants a noted a tax on yeah. You're already paid that -- he -- is taxes I say look I have -- I won an Olympic size swimming pool where apple million dollars. I'm deducting -- I know at a terrible time but the IRS thank you for the Scottish out AP we are AM 680 WRKO. They know right comes of that million. Also if you I worked in London we would not have to pay taxes on it. LA I wish we could've asked on that I'm atomic viewing area succeed -- Welcome back busted and so that's right I think quijano live Michael Phelps mothers cry every time her son win the goals because hey. Tim Geithner the tax she will have his hand I just actually astonished that anyone in in god love -- the tax prepare. Line think they -- an American. Record in the country won the prize. And that prize should be subjected to earned income. -- -- -- -- -- -- -- -- -- --