I also don't like that too many athletes are lavishly paid with guaranteed contracts and endorsements; but I also think it is worse for a government to use the tax code to extract "revenge" for being over paid, or even the playing field. !
Originally Posted by Whirlaway
Why are you singling out professional athletes? What about actors? Singers? College coaches?
All those people successful in these professions are "over paid" when compared to the average U.S. worker. Justin Bieber a millionaire??? The U.S. tax code was built on people earning more money paying a higher percentage of their income in taxes than those making less. I do not consider myself wealthy at all but I "give" the government about 28% of my income in income taxes. I hardly look at it as the government extracting revenge on me. Don't like it but it's the price we pay for living in the U.S. And it has nothing to do with a Democratic or Republican presidency. Look over tax rates over time.
I have the option of moving to a country with lower income tax rates, but "no thank you".