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Romney: Olympians should not pay taxes on medals

August 2, 2012 at 11:49 am
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Republican presidential candidate Mitt Romney agrees with the Republicans who say Olympians from the United States should not pay taxes on the medals they win.

“He believes that there should be no taxation of the type that you’re describing,” Romney campaign senior adviser Eric Fehrnstrom said in a conference call with reporters Thursday.

Romney led the 2002 winter games in Salt Lake City, Utah.

On Wednesday Florida Republican Sen. Marco Rubio introduced the Olympic Tax Elimination Act in the Senate. California Republican Rep. Mary Bono Mack and North Carolina Democratic Rep. G.K. Butterfield introduced similar legislation in the House.

The legislation was introduced after the group Americans for Tax Reform released a report this week saying medal winners could end up paying thousands of dollars in taxes.

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6 Comments

  1. seresmary says:

    The Government just gets greedier and greedier everyday doesn’t it. You take a young kid who trains all his life to finally get a chance to get to the Olympics to perform what he has trained for. Days and weeks of grueling training at their own expense, not Government subsidized, and then they win a medal and the government turns around and taxes them on it. The ultimate insult to our young people, the pride of our country. How insulting is that Obama. Marys

  2. N J says:

    When Romney starts talking about the TEN PLANKS of the Communist Manifesto (especially the second) I will start believing that he is a man of the people (SOVEREIGN CITIZENS)

  3. Irma says:

    Looking at the tax figures, it appears that the IRS is levying a tax in excess of 33% on the winning athletes. The “winnings” are less than $30,000 per medal ($25,000 for gold) and the athlete spent more than a year EARNING that medal by working at their field of endeavor. The “tax” should not be considered in the same category as “winnings” from gambling or being a contestant on “The Price Is Right” or “Wheel of Fortune” (which are regularly 33%) but rather as EARNED INCOME. After this rate in taxes (and expenses), an athlete would be at poverty level!
    Just more evidence that the Left want to tax everything for THEIR own use — you know, like for GSA “conferences” (and bonuses) or “loans” to Solyndra and bailouts for unions in return for kickbacks and votes.

  4. Catherine Lu says:

    I never knew this and think it needs to stop. What about all the hard work they put into training and the cost. Do they get to subtract this from the winining medal . Endorsments are different . This they are representing our country. Maybe they need to stop representing our country and just consider it a win for the individual. Talk about a greedy country and Gov. Maybe we need to start looking at the inside trading and the kick backs these goverment officials are getting

  5. capa760 says:

    Olympians have a record of all expenses, hours spent in practice and competing, gas mileage to and from lessons, competitions, medical treatment expenses, etc. The expenses far surpass the monetary/medals compensation, Perhaps voters need a reminder of who, when, and the greedy why the idea was submitted and why in the world, any congressman/woman voted for the taxation. The same stupidity occurred with “The Death Tax.” Perhaps a morality test, and an IQ test should be given to all candidates from the President, down the line through Congress, etc before acceptance to run for office.

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