Crenshaw gets smoked by Cortez

HoustonHusky said:

She stupid and wrong...most if not all teams are owned as corporations that distribute revenues to the “owners” as dividends, so those distributions would be taxed as such and not as “income”...any that aren’t will be if something this dumb ever passes. It’s a dumb discussion because implementing it will just change how a bunch of people hide and get to their money...mainly will just give accounts and lawyers more work.

The fact that a sitting Rep, most journalists, and a good chunk of society don’t understand this simple wrinkle in our tax code is pretty sad...

Da fuq? I like how you talk like you know something when you don't.

First, if AOC gets her way on the 70%, do you really think it'll be only earned income and would exclude realized investment income? How cute.

Second, while the explosion of TV revenues and great collective bargaining skills against a weak Union have allowed NFL franchises to actually turn a profit. The majority of the owners don't make a sizable profit from the franchise. Their money is made in their bread and butter, whatever it is that made them wealthy.

I do agree that most politicians, journalists, and our society don't understand the tax code.

creepycoug said:

2001400ex said:

HoustonHusky said:

She stupid and wrong...most if not all teams are owned as corporations that distribute revenues to the “owners” as dividends, so those distributions would be taxed as such and not as “income”...any that aren’t will be if something this dumb ever passes. It’s a dumb discussion because implementing it will just change how a bunch of people hide and get to their money...mainly will just give accounts and lawyers more work.

The fact that a sitting Rep, most journalists, and a good chunk of society don’t understand this simple wrinkle in our tax code is pretty sad...

Da fuq? I like how you talk like you know something when you don't.

First, if AOC gets her way on the 70%, do you really think it'll be only earned income and would exclude realized investment income? How cute.

Second, while the explosion of TV revenues and great collective bargaining skills against a weak Union have allowed NFL franchises to actually turn a profit. The majority of the owners don't make a sizable profit from the franchise. Their money is made in their bread and butter, whatever it is that made them wealthy.

I do agree that most politicians, journalists, and our society don't understand the tax code.

If she gets qualified dividends taxed as ordinary income, a lot more will have changed along with the 70%.

Not necessarily. The way I'd see it. Congress says if your income is over $10 billion, it's all taxed as ordinary. This isn't in the media now, but there's been discussion in the past of people with incomes over certain amounts all taxed as ordinary. Cause hedge fund managers and the Warren buffets of the world are the reason for it.