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This would be devastating to athletes. Take the NFL as an example. A player's earning window is very short. Once their career is over, they often suffer from he
by ohitsdom 11y ago
This would be devastating to athletes. Take the NFL as an example. A player's earning window is very short. Once their career is over, they often suffer from health problems and lack of training to do anything else. I don't like the idea of taxing these guys at 70%+ when they're giving up their bodies for money to last them a lifetime.
I know many athletes continue to get endorsements, speaking fees, and other income after their playing days are over. But that is only really significant money for the stars, and continues to decline as they age.
Obviously pro athletes are a very small percentage of the population, but it's still interesting to consider how this impacts different professions.
- riffraff 11y agothere are athletes in less profitable sports than NFL (or leagues, or teams), their careers also don't generally last long but they still do it.
- jacobolus 11y agoThe status quo is devastating for the vast majority of aspiring athletes. It’s only a tiny fraction who come out ahead.
- harryh 11y agoIt's not just pro-athletes who have short windows of high earnings. A lot of the so called 1% are only in that group for a small number of years. It might not be as extreme as NFL athletes but think about, say, a startup founder who takes a very low salary for 5-10 years but then has 1 great year when he cashes out.
- fnovd 11y ago> they often suffer from health problems and lack of training to do anything else So do millions of Americans who did not have the chance to make millions playing sports in their twenties. A new tax plan would have the intention of making lives easier for folks struggling with low wages, ex-footballers included.