XXXth Olympiad - London

[Locutus of Bored]

It came to light yesterday that Team USA members also have to pay up to 9k in taxes for these monetary prizes.. Incredible.. I realize that it counts as income and taxes need to be paid on it, but still.. That's a lot of dough. Apparently there's a move on right now to have that reduced or eliminated.

In order to be taxed $9,000 dollars though, you'd have to a) win gold and get the $25,000 bonus, b) have an annual income of at least $388,350 per year and thus have to pay the 35% tax rate, and c) not write off the prize money against the cost of your training and Olympic/sports-related expenses. While some athletes will make enough to be charged that because of endorsement deals (and therefore will probably be able to cover it easily), most in less popular sports will not have that kind of income and and will be taxed much less. It's sort of a tempest in a teapot because I highly doubt anyone is being blindsided by something they can't afford.

In the UK our elite athletes get grants to support them, expensive facilities to train in, coaches, staff, physio's etc. They make a fortune from advertising and appearance fees and are very wealthy.

Our students have to take out repayable loans to attend university.

Why don't these athletes have to repay the taxpayers outlay?

Are you asking me, and if so, what does that have to do with what you quoted, which was a discussion of the maximum they might actually pay in taxes for gold medals, not advocacy that they shouldn't pay taxes at all?

The only part that might be relevant is the tax write-off for training and other Olympic expenses, and that's because US Olympic athletes training expenses are only paid if they either have some kind of endorsement deal that covers it or if they train at an official US Olympic Committee training facility and follow their strict training regimen and schedule. A lot of athletes have personal responsibilities that don't permit training with the USOC or can't relocate to wherever the facilities are for their sport, so they do so at private facilities in their free time and pay the costs themselves or through endorsements, hence the tax write-offs.

 

[SmoothieX]

Another tight game in hoops, hopefully the US can hang on in the 2nd half.

 

[Holdfast]

What's the feeling about the ?jokily sarcastic/?unintentionally truthful comments by Phillip Hindes about crashing deliberately to get a restart in the team sprint?

I'm personally willing to turn a blind eye and assume it was simply an unwise deadpan joke... and I think officially it's been ruled as OK. But in my heart of hearts I do wonder whether it may have had a kernel of truth to it...

 

[Gryffindorian]

Danell Leyva is a joy to look at no matter what he's doing. Damn, that boy is fine.

Indeed, he is!

Congrats to the American Queen in London - Gabby Douglas! Looking forward to her performance tonight.

Michael Phelps, God, what else is there to be said?! Can't wait to see him win the gold in the individual medley.

 

[Dorian Thompson]

Congratulations to Ms. Gabrielle Douglas. Though Jordyn Wieber's my girl and I'm sad for her, there's no denying what an excellent performance Gabrielle had. Hats off to her. I didn't get to watch. Had to work. I understand Aly Raisman got screwed out of a bronze because of newly instituted tie breaker rules. That sucks.

Damn. What is with those men and the jeans and swimming speedos riding soooooo low on those hips? May as well just put a towel over it or wear a fig leaf.

 

[Gryffindorian]

Dorian, watching Ali on the balance beam was painful. Then again, the others struggled with their routine as well. Gabby evidently outperformed her.

I agree with you on the men's swimming Speedos. I don't remember them being so low in Beijing. Oh, my! What a sight to behold.

 

[Roger Wilco]

So, a bit more controversy... Apparently GB lead-out man Philip Hindes has admitted to crashing on purpose to get the restart because he was worried about having lost a little bit of time with a bad start...

 

[iguana_tonante]

The whole idea of a medal table ranked by nationality is an absurdity that goes against everything the Olympics supposedly stand for, I wouldn't take it so seriously.

They could rank them by religion and political leaning. It would sure make the idiots at Conservapedia happy.

 

[Angel4576]

So, a bit more controversy... Apparently GB lead-out man Philip Hindes has admitted to crashing on purpose to get the restart because he was worried about having lost a little bit of time with a bad start...

Not quite sure what to make of that. Hinds is German-born and we're playing the 'it was misjudged humour that was lost in translation' card.

Luckily for us, the IOC are taking the matter no further.

As I type, another Gold for Team GB Cycling in the men's team pursuit - great ride and another WR smashed!

 

[Mr Silver]

Pendleton!! What a performance!

 

[Holdfast]

Good stuff in the velodrome this evening.

Ben Ainslie's fought back well from his poor races earlier in the week in the sailing too.

 

[Angel4576]

Women's pursuit team were awesome earlier as well, hopefully another gold tomorrow!

But for the disqualification yesterday we could easily have taken all 4 golds on offer in the velodrome so far.

 

[Roger Wilco]

Britain could actually sweep the gold medals on the track. As far as I can see they are the overwhelming favourites in all remaining events anyway, although in disciplines like individual sprint and keirin anything can happen; one small mistake is all it takes to lose even for someone like Hoy there.

eta: just checked, not "overwhelming" according to bookies, but certainly right up there. And with all that momentum, I wouldn't bet against them.

 

[gblews]

Doping favours bad athletes, and disadvantages talented ones.

Nature isn't fair. If I'd been born with an athletic physique, great reflexes and a psychotic competitiveness, I could have won a medal too.

It's not a level playing field anyway...drugs don't make it any less fair.

As I think may have been pointed out in his thread, anyone can take a drug to enhance their performance. It takes no effort, no amount of work, just a purchase. It is like throwing an illegal punch or a kick or holding; anyone can do this. It takes no work, skill, or athleticism. There is no honor in that.

And with respect to your point about some having been born with more athletic gifts than others, that is certainly true, but I have seen many many instances where a less gifted athlete has bested the more gifted athlete. Those "upsets" are usually the result of the lesser athlete working harder (or sometimes just wanting it more) than the more gifted.

My overall point is that just because a person lacks natural athletic gifts, it does not mean that person cannot compete and sometimes win. "Nature's" unfairness can be trumped if a person is willing to make the sacrifice.

Another tight game in hoops, hopefully the US can hang on in the 2nd half.

Haven't seen the game, but sounds like Coach K was having trouble finding a team to put on the floor in the second half that wouldn't score so much. To me, the effort to hold the score in check is good enough. You have to win, but you don't have to go out of your way to humiliate.

 

[tomalak301]

Spoiler: Swimming Events

I would say as much as China is dominant in Diving, the US really does have an awesome Swim team. They pulled off another great day in the pool today.

 

[Roger Wilco]

^^
Yeah, Phelps is just business as usual, but the girl (not demeaning, as she's just 15 apparently) was super impressive. I waited for her to lose ground all race long, but she never did. Too bad she lost the WR on the last length of the pool. For sure would've deserved it.

 

[Winged Victory]

Anyone else catch the men's tennis semi-finals? Federer and Del-Potro, epic match. Can't wait for Sunday's gold medal match...!

 

[Zulu Romeo]

Anyone else catch the men's tennis semi-finals? Federer and Del-Potro, epic match. Can't wait for Sunday's gold medal match...!

I caught the Murray and Djokovic match. Great result for the Scot, more than making up for his poor showing 4 years ago.

Sunday's final will be interesting indeed. Here's hoping his mixed doubles duties tomorrow don't tire him out.

 

[Starkers]

It was great to see Pendleton win, truly it's been a great few days for Team GB. Shame Becky couldn't get Gold or Silver in the 800 metres, but crikey that 15 year old Amercian girl could shift! I thnk she took all of them by surprise. Still two bronzes, as another GB swimmer, Fran, said later, she'd bite her arm off for a bronze medal.

 

[Angel4576]

Thrilled for Anna Watkins in the women's double skulls - she's from the next town across from me in the Moorlands!