Politics

Sports World Braces for Soaring Tax Rates
With tax rates poised to rise sharply in just three months, here’s how 10 stars from the sports world will have their incomes impacted by what Congress decides to do.

Alex Rodriguez

New York Yankees (MLB)

SALARY:                                      $33,000,000
ENDORSEMENTS:                      $4,000,000


ESTIMATED INCOME:                 $37,000,000

If all the Bush tax cuts expire, A-Rod’s tax burden will be $1.69 million higher in 2011 than if the tax cuts are extended. A-Rod’s tax bill will be $1.69 million higher under the Democrats’ plan than the GOP’s.

Net Tax in Millions

Source: Sports Illustrated, Tax Foundation

Tiger Woods

GOLF

WINNINGS:                                   $20,508,163
ENDORSEMENTS:                      $70,000,000


ESTIMATED INCOME:                 $90,508,163

If all the Bush tax cuts expire, Tiger's tax burden will be $4.16 million higher in 2011 than if the tax cuts are extended. Tiger’s tax bill will be $4.14 million higher under the Democrats’ plan than the GOP’s.

Net Tax in Millions

Source: Sports Illustrated, Tax Foundation

Phil Mickelson

GOLF

WINNINGS:                                     $9,660,757
ENDORSEMENTS:                      $52,000,000


ESTIMATED INCOME:                 $61,660,757

If all the Bush tax cuts expire, Phil's tax burden will be $2.83 million higher in 2011 than if the tax cuts are extended. Phil’s tax bill will be $2.81 million higher under the Democrats’ plan than the GOP’s.

Net Tax in Millions

Source: Sports Illustrated, Tax Foundation

Jerry Jones

Dallas Cowboys Owner (NFL)

TEAM VALUE:        $1.8 Billion


Forbes* says the Cowboys, which Jones owns, is worth $1.8B, up 9% from a year ago….so its value went up $162M.
If all the Bush tax cuts expire, Jerry Jones' tax burden will be $7.45 million higher in 2011 than if the tax cuts are extended. Jerry Jones’s tax bill will be $7.44 million higher under the Democrats’ plan than the GOP’s.

Net Tax in Millions

Source: Forbes, Tax Foundation

LeBron James

Miami Heat (NBA)

SALARY:                                      $15,800,000
ENDORSEMENTS:                    $30,000,000


ESTIMATED INCOME:                 $45,800,000

If all the Bush tax cuts expire, LeBron’s tax burden will be $2.10 million higher in 2011 than if the tax cuts are extended. LeBron’s tax bill will be $2.09 million higher under the Democrats’ plan than the GOP’s.

Net Tax in Millions

Source: Sports Illustrated, Tax Foundation

Peyton Manning

Indianapolis Colts (NFL)

SALARY:                                      $15,800,000
ENDORSEMENTS:                    $15,000,000


ESTIMATED INCOME:                 $30,800,000

If all the Bush tax cuts expire, Peyton's tax burden will be $1.41 million higher in 2011 than if the tax cuts are extended. Peyton’s tax bill will be $1.40 million higher under the Democrats’ plan than the GOP’s.

Net Tax in Millions

Source: Sports Illustrated, Tax Foundation

Flloyd Mayweather Jr.

BOXING

WINNINGS:                                  $60,250,000
ENDORSEMENTS:                          $250,000


ESTIMATED INCOME:                 $60,250,000

If all the Bush tax cuts expire, Mayweather's tax burden will be $2.77 million higher in 2011 than if the tax cuts are extended. Mayweather’s tax bill will be $2.75 million higher under the Democrats’ plan than the GOP’s.

Net Tax in Millions

Source: Sports Illustrated, Tax Foundation

Jeff Gordon

NASCAR

WINNINGS:                                     $6,500,000
ENDORSEMENTS:                      $15,000,000


ESTIMATED INCOME:                 $21,500,000

If all the Bush tax cuts expire, Jeff Gordon's tax burden will be $983,352 higher in 2011 than if the tax cuts are extended. Jeff Gordon's tax bill will be $972,587 higher under the Democrats’ plan than the GOP’s.

Net Tax in Millions

Source: Sports Illustrated, Tax Foundation

Phil Jackson

Head Coach, Los Angeles Lakers (NBA)

SALARY:                  $6,000,00



If all the Bush tax cuts expire, Phil Jackson's tax burden will be $270,352 higher in 2011 than if the tax cuts are extended. Phil Jackson's tax bill will be $259,587 higher under the Democrats’ plan than the GOP’s.

Net Tax in Millions

Source: Forbes, Tax Foundation

Vincent Lecavalier

Tampa Bay Lightning (NHL)

SALARY:                  $10,000,00


If all the Bush tax cuts expire, Vincent's tax burden will be $454,352 higher in 2011 than if the tax cuts are extended. Vincent’s tax bill will be $443, 587 higher under the Democrats’ plan than the GOP’s.

Net Tax in Millions

Source: Sports Illustrated, Tax Foundation

Sports World Braces for Soaring Tax Rates

With tax rates poised to rise sharply in just three months, here’s how 10 stars from the sports world will have their incomes impacted by what Congress decides to do.

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