Imagine what the proposed(but unlikely) tax plan would do to the NBA.

You may have heard about the Ocasio Cortez tax plan shes been pushing for in congress. 70% rate on people over 10 million. Which would of course...make it kinda not worth it to make say...15 million. Heres an article on some of the implications:


[url]https://slate.com/culture/2019/01/nba-aoc-70-percent-marginal-tax-rate.html[/url]



Raises some good points. You could defer deals so you make 10 million now....20 million after you retire for ____ number of years. But....most max players have endorsements that would get them to 10 million to begin with. So they could only take home 30% of their NBA pay...less really with agent/manager fees.

But you could change some income from say....Nike...to nike stock. Which you then pay cap gains tax rates on.

I dont support the plan but it would be funny watching the accounting gymnastics.

The Raptors would be unstoppable. We might see Vancouver get a team back. Granted.....you still get taxed to death in canada....it wouldnt be as bad as here.

Kyle Lowrys taee home pay on 28 million in salary in canada owuld look pretty good compared to only getting 30% off top here:



[IMG]http://i64.tinypic.com/33tnp82.jpg[/IMG]

Income redistribution to that degree doesn’t work nor will it ever work.

The truly wealthy will dodge the absolute **** out of paying those taxes by any means necessary and I don’t blame them one bit. It’s asinine.

The IRS shouldn’t even ****ing exist tbh unless there is national military emergency which we haven’t had either since 9-11-01 or since ww2 and all taxes should be handled at the state level otherwise. Period.

Wealth redistribution in this country is already ****ing the middle class harder than anyone else and her tax plan wouldn’t do anything to stop it. The rich would still dodge something fierce.

It’s also straight up ****ing immoral to essentially rob someone which is exactly what she’s advocating. IT IS IMMORAL. IT IS THEFT.

Just because a bunch of millionaires got where they are by doing less than honorable things doesn’t mean you punish the entire system. You look for other ways to fix the problems but you don’t rob people of their money no matter how wealthy they might be. The rich already pay a disproportionate amount and she wants them to hand over their entire ****ing wallets. Stupid ****.




And yes just for the sake of saving a headache the Raptors might be able to field a 75 win team lmaoooo.

Having only read the first part of the title and the first paragraph I was getting all excited to say to kblaze, "wrong forum, please post in the OTC" but a little more reading ruined all that, unfortunately.

Currently most players just want the ego-boost attached to getting every dollar a team can spare, it's not just about the take home pay. The Florida and Texas teams don't have state income tax but we've only seen the Heat dominate a year of free agency and that was more about cap space. James still ended up leaving Miami, Shaq left Orlando for a high-tax state all those years ago, Kawhi Leonard forced his way out of SA. Taxes are important but they don't appear to majorly effect players thinking yet.

Players colluding to make a superteam might just consider the ramifications of the Cortez tax plan the next time that kind of thing happens but I bet the average FA still doesn't care.

[QUOTE=Ben Simmons 25]Income redistribution to that degree doesn

Her plan is too extreme and starts at too low of an amount at 10 million, but she is on the right track.

There has to be some redistribution of wealth as the growing wealth inequality is a real problem.

Whether the fix is UBI facilitated by a tax of companies profiting from AI or a much heavier tax on the ultra wealthy...I don't know the answer, but with the coming AI revolution...

The average person out there is going to be pretty screwed if we as a society don't agree to make some modifications to our current system (which is clearly the best, I'm not hating on capitalism, but some things do have to change)...

Just one clarification here, our tax system is progressive, meaning, the 70% rate kicks in on anything above $10mm. Still, a significant chunk for those making, say, $50+mm a year.



[QUOTE=Kblaze8855]
Kyle Lowrys taee home pay on 28 million in salary in canada owuld look pretty good compared to only getting 30% off top here:

[IMG]http://i64.tinypic.com/33tnp82.jpg[/IMG][/QUOTE]

[QUOTE=kap]Just one clarification here, our tax system is progressive, meaning, the 70% rate kicks in on anything above $10mm. Still, a significant chunk for those making, say, $50+mm a year.[/QUOTE]
It's like that in most places. I guess most people have just never done or understood taxes.

Bigtime players hit 10 million off shoe deals alone. It would hit your entire nba salary.

heavens, no! how will the sprewells of the world feed their families now? :(

[IMG]https://media.giphy.com/media/4MHv5aIo6SI2A/giphy.gif[/IMG]

At that rate would it be worth it if you won the Powerball to just take all the money upfront not have any withheld and find a way to leave the country and pull it out in cash or gold elsewhere?

I

[QUOTE=SomeBlackDude]heavens, no! how will the sprewells of the world feed their families now? :(

[IMG]https://media.giphy.com/media/4MHv5aIo6SI2A/giphy.gif[/IMG][/QUOTE]

This.

28 million or 12 million. I wouldn't know what to do with 12 million... or even less than that.

How much is enough for these rich f[COLOR="Black"]u[/COLOR]ckers?

[QUOTE=bullettooth]This.

28 million or 12 million. I wouldn't know what to do with 12 million... or even less than that.

How much is enough for these rich f[COLOR="Black"]u[/COLOR]ckers?[/QUOTE]
Capitalism kinda falls apart at that point but the alternative is socialism.

I starting to think taxing rich people will never work. Even if you do it they always get out of it. We need a minimum income. People can still be rich as hell but no one should fall through the cracks. We have the wealth and resources to do that.

[QUOTE=RoseCity07]I starting to think taxing rich people will never work. Even if you do it they always get out of it. We need a minimum income. People can still be rich as hell but no one should fall through the cracks. We have the wealth and resources to do that.[/QUOTE]

You give people a minimum income and products/services will just go up in price. The rich still win.

[QUOTE=bullettooth]This.

28 million or 12 million. I wouldn't know what to do with 12 million... or even less than that.

How much is enough for these rich f[COLOR="Black"]u[/COLOR]ckers?[/QUOTE]

kinda weird how working joes stan for oligarchs these days.

like you can ask a dude working at wal-mart or some factory making $9/hr why he doesn't have healthcare and he'll say 'cuz sochulizm bad'.

but say hey, maybe the owners/ceos of your company who are making like $50 mil per year should be taxed more and that same dude will march to dc to burn the whole place down.

[IMG]https://media.giphy.com/media/sIlHfE2wu1xFS/giphy.gif[/IMG]

[B][SIZE="4"]"taxation is theft!"[/SIZE][/B]

like why are you crying tears for a dude who makes in a year what like 10-20 generations of your family has/will? :wtf:

kyle lowry's gonna be alright. maybe he might have to cut back to 3 mansions instead of 5, maybe sell one of his yachts, but he's gonna be alright. trust that.