An Olympic Gold Medal Costs US Athletes $9,000
Wait, so they win this gold medal at the Olympics. It shows that they are the best in the WORLD at this moment at whatever sporting event they are participating in. Annnnnd they gotta pay for it??? Keep reading for the reasoning behind it!
According to Inquisitr:
It breaks down like this: The United States Olympic Committee rewards our Olympic medalists with cash prizes. For gold, you get $25,000. Silver is worth $15,000 and finally, bronze is worth $10,000. Conservative news magazine The Weekly Standard crunched the numbers on the price paid by Olympic winners, estimating that gold medalists like Michael Phelps pay about $8,986 for each gold win, silver winners pay roughly $5,385 and bronze winners owe the IRS $3,500 in taxes.
What do you think? Should Olympic athletes be exempt from these taxes?