Did you know that the Olympians pay taxes on their medals?

PeyoteReligion

Well-Known Member
I have a few questions because this is the first I heard this. So for example the bronze medalist makes 10,000 prize money? From who, the IOC? If so do all countries get paid that much, is it in us dollars? Or 10,000 equivalent in their countries tender (with would come out to and odd number). I'm just a little curious to know if all medal winners in all countries make as much as we do per medal? I bet we pay taxes because the US pays them to win. If that's not the case, and the IOC is paying them and the IRS is taxing them then I'm against it. But if its the US that pays its winning atheletes, then it's not different than income and taxes apply IMO. Would like to know more...
 

halfloaf

Active Member
And so they should i have to pay tax on the shares i get as a bonus from the company i work for and at the end of the day that is the job they chose to do.
 

halfloaf

Active Member
Phelps the greatest olympian of all time no way Daley Tompson would kick his arse.

Athletics[edit] Early career

Initially, he was a member of Haywards Heath Harriers, but when he returned to London in 1975 he joined the Essex Beagles club, training as a sprinter. He began to be coached by Bob Mortimer, who suggested he try for decathlon. He competed in his first decathlon later that year in Cwmbran, Wales, which he won along with his next competition. In 1976 he won the AAA title and was 18th at the Montréal Olympic Games. The following year, he won the European Junior title and in 1978 came the first of his three Commonwealth titles. In 1979, he failed to finish in his only decathlon of that year, but won the long jump at the UK Championships.
[edit] 1980-1986-breaking records

Thompson opened the 1980 Olympic season with a world decathlon record of 8,648 points at Götzis, Austria, in May, and followed this with a comfortable win at the Moscow Olympics. After a quiet 1981 season, he was in devastating form in 1982; back at Götzis in May, he raised the world record to 8,730 points and then in September, at the European Championships in Athens, he took the record up to 8,774 points. The following month in Brisbane, Thompson took his second Commonwealth title. In 1983, Daley won the inaugural World Championships and became the first decathlete to hold the European, World and Olympic titles simultaneously. He spent much of the summer of 1984 in California preparing for the defence of his Olympic title, with Jürgen Hingsen, the West German who had succeeded Thompson as the world record holder, expected to be a major threat. Thompson took the lead in the first event and was never headed throughout the competition, although it seemed that, by easing off in the 1,500 metres he had missed tying the world record by just one point. When the photo-finish pictures were examined, however, it was found that Thompson should have been credited with one more point in the 110 metres hurdles so he had in fact, equalled Hingsen’s record. Then when the new scoring tables were introduced, Thompson became the sole record holder once more with a recalculated score of 8,847 points – a world record that stood until 1992, when it was surpassed by the American athlete Dan O'Brien with a score of 8891. His two victories in the decathlon are a feat shared only with the American Bob Mathias. Thompson's 1984 performance is still the UK record.
[edit] 1987-1990-defeat and injury

After his Olympic success, Thompson won his third Commonwealth title in 1986 but after that he never quite recaptured the superlative form of earlier years. In 1987 he suffered his first decathlon defeat for nine years when he finished ninth in the World Championships, and at his third Olympics in Seoul in 1988 he finished fourth. He made the Commonwealth Games team for the fourth time in 1990, but was forced to withdraw because of injury
 

PeyoteReligion

Well-Known Member
Ok this whole thread is misleading. The US Olympic commitee is who pays the atheletes. So LEGAL taxes apply here. or we could just NOT pay our Olympians like plent of other countries. I'm not down is for taxing them. They still makes thousands of dollars or tens of thousands after taxes. Any of the successfull ones will get endorsements too. I shed no tears over this.
 
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