.

VIDEO: Sen. Brown Says Olympians are American Heroes, Should be Exempt from Taxes on Medals

Speaking at a construction site in Framingham, the U.S. Senator said Olympians are American heroes and shouldn't be greeted at home by the I.R.S.

Sen. Scott Brown said him and his family watched the Olympic gymnastics team finals and Needham's Aly Raisman was a leader for her team.

Speaking at a construction site in Framingham, the U.S. Senator said Olympians are American heroes and shouldn't be greeted at home by the I.R.S.

He is working to exempt Olympic champions from taxes on their medals and the monetary prizes, awarded by the Olympic committee.

Brown, who will compete in this weekend's Pan-Mass Challenge, said he is looking forward to the Olympic Track and field events.

Brown said he supports a bill introduced by Sen. Marco Rubio on Wednesday to eliminate the federal government’s tax on Olympic medals.

Athletes who win a gold medal also earn a $25,000 honorarium — and with it an $8,986 tax bill to the IRS, according to Americans for Tax Reform, which crunched the numbers. That covers both the honorarium and the tax on the value of the gold in the medal itself.

The silver medal tax comes to $5,385, and the bronze medal tax is $3,502 — including $2 for the value of the bronze medal itself, and the $10,000 honorarium.

Jim Rizoli August 04, 2012 at 02:24 PM
I didn't know about the tax implications. On the other side I would think the money they have spent getting to the Olympics is tax deductible and the whole thing would be a whitewash after taxes. Jim@ccfiile.com
Dave Lenane August 04, 2012 at 02:27 PM
Remember when Olympic Athletes weren't paid Mr. Brown??? If they are then they should pay taxes like the rest of us. Wasn't the payment supposed to be the "Honor" of representing your country? Maybe you should go back to modeling or acting and stop trying to "Act" like a Senator! You almost make me want to vote for Warren! Like LeBron James and crew need the tax break! What an idiot!!!!!
Gerald C W Heng Sr. August 04, 2012 at 07:39 PM
Scott Brown shouldn't dirty himself by using Olympianas as his special Tax Break/Exemption tax shelter clients,it is just trying to get Votes by Association with Heroes like he did with our Greater Boston Pope Mayor Ray Flynn Ex-Envoy to the Holy See in Rome ! Stick to the Policies of the GOP and the Proposals man its more practical and ethically moral !Did the late Senator Edward Moore Kennedy campaign like that ? No wonder Scott Brown was screaming it isn't the Kennedy's seat but the People's ! What Olympicians with any Medals wouldn't serve their country by paying taxes rightly owed no more nor less !If you can take Tax Deductions for the Sports of your choice you must pay back Uncle Sam the rightful taxes ! have you seen a case in the IRS that grant tax deductions and grant at the same time exemptions ,it would be unequal protection of the laws Pax Americana !We all know how Scott Brown's want to aficionado with the Olympians with the Fall Election Ballotting ! Gerald Heng Sr. Gerald Heng Sr.
Dave Lenane August 04, 2012 at 10:48 PM
Soldiers pay taxes...citizens pay taxes...why shouldn't athletes pay taxes? If you are lucky enough to have a job that gives you a Christmas Bonus, that bonus is taxed at a rate of 48%. The State doesn't care how much you may need it, or how hard you worked for it! Where's Jim Hatherley? I would be VERY interested in getting the Republican Party's viewpoint on this! What do we need to re-learn from the Olympics Jim? Is this what you meant? That pandering for votes is now an Olympic tradition? Athletes are heroes and therefore are treated differently by the Government as well. Wow has this got me riled up! Hey Sitting Bull Warren...you may have my vote!
Dave Lenane August 04, 2012 at 10:57 PM
Silly me...Warren supports this as well! I should have figured! Good to see that on the Herald's website the commenters are harshly opposed to giving a tax break to athletes that represent their country by choice.
Dave Lenane August 04, 2012 at 11:15 PM
How about the kids who can't train to be an Olympic athlete because they have to work at a McDonalds to help their family survive? Or to pay for their school? Shouldn't they get a tax break as well? I'm sure they need it more than athletes that have agents waiting at the airport for their arrival.
Jim Rizoli August 04, 2012 at 11:22 PM
Dave....those basketball players are professional for all intents and purposes. They are in another category. I say no taxes for those not considered professional. But your right if they have a another day job and are paid professionally. jim@ccfiile.com
Joe Rizoli August 06, 2012 at 07:29 AM
A lot of you people may wonder why I am so angry at the USA and for how the Olympics make us all forget about the bad in the world. But I can't get it through my brain to know that our country has done some horrendous things that should make all of us think twice and proud to call ourselves Americans. We have war situations that continue to wreak havoc on every American and person serving and or living in the country's we are at war with. One horrendous problem NOT being mentioned is the problem of Depleted Uranium. How we can be proud of a country that has allowed our servicemen to get a death sentence to themselves and their prospective children is beyond me. This is why I never watched one minute of the Olympics. I guess it was my protest to insanity. http://mynameisjoecortina.wordpress.com/2012/03/26/depleted-uranium-weapons-du-the-real-dirty-bombs/ If this angers me, how does our God look at this? Joe Rizoli

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something