Obama favors cutting Olympians' tax bill
August 6th, 2012
04:23 PM ET
11 years ago

Obama favors cutting Olympians' tax bill

(CNN) – When the U.S. Olympic team adds to its medal count, it’s not just the fans and Olympians who celebrate. So does the IRS.

That’s because the U.S. Olympic Committee awards each medalist with a cash prize – $25,000 for gold, $15,000 for silver, and 10,000 for bronze – money that the U.S. government has always considered taxable income.


Filed under: Olympics • President Obama
soundoff (30 Responses)
  1. anthony76

    "Four and The Door
    That's fine. But do understand he is talking about giving another tax break to several millionaires. Not that I am complaining about this, but see how our tax code is created? Politics. And right now it is politically convenient to cut these athletes a break on their winnings income."


    Tax Free Riders, PAY YOUR FAIR SHARE



    Give it up guys. You managed to turn even a positive gesture such as this into a negative. Are you guys that miserable that you can't even just be happy for a sec that our athletes have won medals to even come with?1? Speaks volumes about your misery levels...

    And not a single one of those athletes won those medals by themselves.. it's called coaches, families, and even teammates. Matter of fact, its facilities, and trains and planes; built by other Americans. Way to take the Obama quote and continue the lie the rest of the thinking world has already gotten hip to.


    August 6, 2012 07:59 pm at 7:59 pm |
  2. once upon a horse

    I don't think Obama was the president the last time we had the Olympics......so of course the subject wasn't brought up by him. But when it was brought up that he tried to get the 2016 Olympics for Chicago which last I checked was an American city, the far right wing so so against it that they CHEERED when we lost out to Rio. And since the president now is on record for agreeing with Sen Rubio, I'm sure now the GOP will be against it.

    August 6, 2012 08:23 pm at 8:23 pm |
  3. megamimi

    It is not the gun, an inanimate object, that is the problem. It is rather society in which lack of respect for each other, intolerance, and an acute disavowal of the sacredness of life that is the problem.

    August 6, 2012 09:13 pm at 9:13 pm |
  4. Larry L

    Who cares? Where are Romney's tax returns? That's the issue to determine the character of what appears to be a greedy, slimy, tax-cheating, spoiled preppy, fat-cat. He wants us to trust him with our future but won't trust us with proof of his integrity.

    August 6, 2012 11:39 pm at 11:39 pm |
  5. big bob

    The people of New York deserve Bloomberg, a man who knows what is best for everyone. How about this for
    starters. All of Bloombergs security are restricted from carrying guns, lead by example.
    The Utopia in your mind would be nice but it does not and never will exist.
    Ask any NYPD.

    August 7, 2012 07:56 am at 7:56 am |
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