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Isn't it true that the tax is levied only if an athlete made over $380,000 and had no expense deductions? Yes, some of the professional basketball players would have to pay but to how many others would Rubio's bill apply?
Commented Aug 2, 2012 on Rubio proposes Olympic tax loophole at Naked Politics
Rubio proposes Olympic tax loophole
It's doubtful that, say, Michael Phelps needs a tax break, but Sen. Marco Rubio, R-Fla., announced Wednesday he was introducing the Olympic Tax Elimination Act, which would exempt U.S. Olympic medal winners from paying taxes on their medals. His office notes that Olympians who win medals also r...
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