Phil is probably getting screwed on taxes but what the hell is he going to do, start working for a living making 100k so he doesn't have to pay so much in taxes. He plays golf and makes commercials and does endorsements, if you're going to pay too much in taxes might as well be playing golf and paying too much.
So those who don't want to work can continue to collect their handouts? Also, Phil, and all the guys on the PGA tour, are away from home for extended periods at a time playing tournaments. They miss out on family activities, miss going to the kids sporting events, miss going to school events, and so on, all of which have a cost. He has enough $$ he could walk away from golf and live happily the rest of his life IMO.
I do not think the tax rate being +- 4% is the problem. Our problem is congress and senate. Both sides are at fault which means we the voters have the ultimate responsibility. The dems don't want to budge on welfare and social programs the reps don't want to budge on defense and taxes both sides act like they are employees of the drug and health insurance companies. Every congressman is against pork except when it goes in his district or will help in reelection. The answer, don't know, it may take things going to hell first to sober up both sides. Another economic boom could solve the problem but congress has no control over that.
If Obama had any balls he show up for his State of the Union speech and say "no one here, Democrats or Republicans, will like what I'm about to say. First, we need term limits and that needs to be passed now. Not in 10 years but immediately. Second, we need to go back to Simpson-Bowles as we work on the deficit reduction issues". Biden yesterday made some statement about his 32 years in Washington, as if that's something to be proud of. And anyone who reads the Sunday NYT -- great article that talked about Amgen and their 74 lobbyists and how they got some crap jammed in the fiscal cliff at the last minute giving them 2 more years of a drug being covered under Medicare which will cost us $500 million. And this occurs 2 weeks after they plea guilty in a federal fraud case. http://www.nytimes.com/2013/01/20/u...for-amgen-drug-maker.html?pagewanted=all&_r=0
Prop 30 was retroactive, so he is unable to escape at least one year's worth of the increased tax. Governor Brown is already telling the public that the budget is balanced, based on the estimate of increased revenue that prop 30 will bring. He may get away with that for one year, but if high earners flee like Mickelson threatens to do, he balanced budget claims are going to bite him in the ass.
Who are you and what have you done with bigarrow? Hacking someone's account is against ET's code of conduct!
You hit the nail on the head. Phil also has to battle with arthritis, which for a professional golfer, could be a career ender. My guess is that he had one foot out the door already and the tax hit was all he needed to say that he will play a very limited schedule or possibly retire. Those guys travel so much that unless they take their kids on the road with them, they might be away from home for a month to six weeks at a time...