So it was either the Heat, or the SuperSonics, Mavericks, Spurs, or Rockets - Jeff Jacoby makes the case that LeBron James moved away from high-tax Cleveland to no-state-tax Florida to give himself an instant pay raise in "Fouled by the taxman."
6 comments:
Anonymous
said...
However, Ohio's property tax and sales tax are both lower than Florida's. Also, Ohio's state tax is 100% deductible on James' federal return.
If Ohio's state tax situation really were a deal-breaking factor, James could easily have claimed a primary residence in Florida (or Texas) long before 2010. Many other out-of-state athletes such as Roger Clemens, Derek Jeter, and Tiger Woods have all done this.
The $$$ difference is so negligible, if not nonexistent, that (believe it or not) LeBron James may simply have picked the team he wanted.
So that's how the Celtics were able to get Kevin Garnett and win a Championship in 2007. Thank goodness Massachusetts has lower taxes than Minnesota.
It also explains how the Lakers won Game 7 this year. At first it made no sense to me because their income tax rate is higher, but if you look at total per capita tax revenues they're ranked 11th to Massachusetts' 10th.
Just the edge required to get those bench players.
I think James was leaving Cleveland no matter what - there was certainly some personal stuff going on.
Taxes probably drove the decision of where he was going next. The NY Post estimated that he would be paying an extra $2.5 million in state taxes on salary and endorsements if he played for a NY based team instead of FL. I would find it hard to believe that wasn't a factor.
Whereas the fact that the Knicks have sucked dung for a decade never entered into James' thoughts, I'm sure.
I can't believe Shaquille O'Neal ever left Florida for Arizona, or that Karl Malone ever left Utah for California, or that Allen Iverson left Pennsylvania for Colorado, or that Steve Nash left Texas for Arizona, or that Gary Payton left Wisconsin for California. The fools! They'll all end up in soup kitchens, mark my words.
6 comments:
However, Ohio's property tax and sales tax are both lower than Florida's. Also, Ohio's state tax is 100% deductible on James' federal return.
If Ohio's state tax situation really were a deal-breaking factor, James could easily have claimed a primary residence in Florida (or Texas) long before 2010. Many other out-of-state athletes such as Roger Clemens, Derek Jeter, and Tiger Woods have all done this.
The $$$ difference is so negligible, if not nonexistent, that (believe it or not) LeBron James may simply have picked the team he wanted.
Why pay the tax to get it back when you can put it to work at interest immediately.
Anytime you keep the money out of the government's hands, you are doing the right thing.
Sales and property tax is a controllable tax as choices are made as to what and when you buy/own.
So that's how the Celtics were able to get Kevin Garnett and win a Championship in 2007. Thank goodness Massachusetts has lower taxes than Minnesota.
It also explains how the Lakers won Game 7 this year. At first it made no sense to me because their income tax rate is higher, but if you look at total per capita tax revenues they're ranked 11th to Massachusetts' 10th.
Just the edge required to get those bench players.
I think James was leaving Cleveland no matter what - there was certainly some personal stuff going on.
Taxes probably drove the decision of where he was going next. The NY Post estimated that he would be paying an extra $2.5 million in state taxes on salary and endorsements if he played for a NY based team instead of FL. I would find it hard to believe that wasn't a factor.
Whereas the fact that the Knicks have sucked dung for a decade never entered into James' thoughts, I'm sure.
I can't believe Shaquille O'Neal ever left Florida for Arizona, or that Karl Malone ever left Utah for California, or that Allen Iverson left Pennsylvania for Colorado, or that Steve Nash left Texas for Arizona, or that Gary Payton left Wisconsin for California. The fools! They'll all end up in soup kitchens, mark my words.
Who cares? it is all vomit ball. Run down the court-throw it up! Run back the other way-throw it up.
Curling is SOOOO much more invigorating.
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