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From: Think Progress
Travis Waldron
Wealthy Professional Boxer Refuses To Fight In U.S. Because Hed Have To Pay Taxes
By Travis Waldron posted from ThinkProgress Alyssa on Feb 15, 2013 at 5:12 pm
Manny Pacquiao, the Filipino boxing champion who regularly pulls in guaranteed purses north of $20 million a fight, is now refusing to hold his next bout in Las Vegas because the United States insists on taxing the income of people who make money inside its borders.
The fight, Pacquiaos fifth against rival Juan Manuel Marquez, would guarantee him a $25 million purse if its fought in Las Vegas. But American taxes would eat a significant chunk of that, while fighting it in either Singapore or Macau wouldnt tax his earnings, the fights promoter said. Thats a major concern for Pacquaio, who needs to hoard as much money as he can before his career ends, his manager told Yahoo:
We were talking only this morning about where and when and against who he would fight next, Koncz told Yahoo! Sports. One thing we agreed on is that the taxes make Vegas a no-go. Youre a fighter up there risking your life in the ring, so you have to maximize what you are going to get out of it.
I know, Manny knows, that he only has a certain number of fights left, maybe one, maybe three. We dont know. So that means the priorities change a little bit at this point.
Pacquiao isnt the only professional athlete to complain about American taxes recently. Professional golfer Phil Mickelson, who made more than $40 million last year, threatened to move from California and even give up golf because of high tax rates in his home state. Anti-tax groups have trumpeted both Mickelson and Pacquiao as examples of high taxes hurting the U.S., even if the rich are still paying historically low tax rates amid budget cuts to programs that benefit people who dont have the luxury of making millions of dollars to hit a golf ball or box for a living.
These athletes, of course, have the right to perform their craft wherever someone will pay them to do it. But its hard to feel sympathy for Pacquiao, who would still clear $15 million an amount that would take the average American household 284 years to equal if the fight were held in the United States
railsback
(1,881 posts)from someone who got knocked the fuck out.
jaysunb
(11,856 posts)That happened 2 fights ago.
loli phabay
(5,580 posts)If it was me. You never know what punch will finish your career.
frylock
(34,825 posts)alp227
(32,034 posts)Hassin Bin Sober
(26,330 posts)dairydog91
(951 posts)Or are people seriously arguing that non-Americans are now obligated, if possible, to work in the United States so as to maximize US tax revenue revenue? That's like a Monty Python sketch: "We're now taxing all non-citizen non-residents who earn income abroad."
busterbrown
(8,515 posts)Let them go somewhere else if they want. Thats just fine....But there must be some mysterious reason most still want to work here. Its the U.S. for Christer sakes..
Hassin Bin Sober
(26,330 posts)Do I have to think of everything around here?