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Teed off: Golf star Phil Mickelson may bolt California over taxes
“There are going to be some drastic changes for me because I happen to be in that zone that has been targeted both federally and by the state and, you know, it doesn't work for me right now,” he said. “So I'm going to have to make some changes."
California voters in November approved Proposition 30, which, in addition to raising the state sales tax, carries a menu of new tax brackets that hit millionaires like Mickelson hard. For income exceeding $1 million, the state rate jumped to 13.3 percent from 10.3 percent. For Mickelson, who earned roughly $60 million in 2012, that would be a tax increase of more than $1.8 million.
Read more: http://www.foxnews.com/sports/2013/...stic-changes-over-new-tax-rate/#ixzz2IdnJ72Qx
the article mentioned he may retire. taking an objective look at the argument that someone like phil will retire, we must believe that someone is willing to give up making 60 million dollars, over an increase in taxes of 1.8 million dollars. such an idea is ludicrous.
he may very well move out of state, my parents are thinking about because of taxes, however, i seriously doubt he would stop working because of a small increase in his taxes.
“There are going to be some drastic changes for me because I happen to be in that zone that has been targeted both federally and by the state and, you know, it doesn't work for me right now,” he said. “So I'm going to have to make some changes."
California voters in November approved Proposition 30, which, in addition to raising the state sales tax, carries a menu of new tax brackets that hit millionaires like Mickelson hard. For income exceeding $1 million, the state rate jumped to 13.3 percent from 10.3 percent. For Mickelson, who earned roughly $60 million in 2012, that would be a tax increase of more than $1.8 million.
Read more: http://www.foxnews.com/sports/2013/...stic-changes-over-new-tax-rate/#ixzz2IdnJ72Qx
the article mentioned he may retire. taking an objective look at the argument that someone like phil will retire, we must believe that someone is willing to give up making 60 million dollars, over an increase in taxes of 1.8 million dollars. such an idea is ludicrous.
he may very well move out of state, my parents are thinking about because of taxes, however, i seriously doubt he would stop working because of a small increase in his taxes.
