Ahead of the Senate hearing on “Offshore Profit Shifting and the U.S. Tax Code,” I released a report reminding us that contrary to the perception created by these types of political spectacles, corporations pay a...
- MSN Money -- 'Could you be hit by the jock tax?'
MSN Money -- 'Could you be hit by the jock tax?'
"'Every time there's a tax on quote unquote the rich, the inevitable result is that pretty soon a million people are paying the tax,' said Bill Ahern, communication director of the Tax Foundation, a nonprofit and nonpartisan research group that took aim at the jock tax in a 2004 report.
"For instance, the report noted, not only do millionaire players get caught up in the tax -- but also every traveling member of the team's support staff, from coaches to trainers. And, remember, not every pro athlete is pulling down big money.
"Ahern says he recently got a call from the mother of a professional Major League Soccer goalie who makes $26,000 a year. She was sitting at the dinner table doing her son's taxes -- and told Ahern she had to file returns in 10 states, with taxes due ranging from $200 all the way down to $2."
Maryland Gov. Martin O’Malley’s office took a swipe at a grass-roots citizens’ group over a report claiming people are leaving Maryland for Virginia, beginning a fight in cyberspace between the governor, the citizens’ group and an established...