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Olympic Farewells, Brothels And Medal Taxes

Here are some of the latest developments from the London Olympics.

First, from the Associated Press:

Chinese badminton player blogs ‘farewell’ to sport

Thursday August 1, 2012

LONDON (AP) — A Chinese badminton star is apparently quitting the sport after she was one of eight players disqualified from the doubles tournament at the London Olympics for trying to lose.

A comment on a verified account for Yu Yang on the Tencent microblogging service late Wednesday read: "This is my last game. Farewell Badminton World Federation. Farewell my dear badminton."… In China, the lives of top athletes are closely controlled by sports officials, including decisions on retirement.

But China is a country that we need to emulate, according to Ms. Warren and Mr. Obama and other top Democrats.

For the record, according to the AFP, Ms. Yu [sic] also told the Olympic committee on her blog: "You have heartlessly shattered our dreams."

Yu and Wang Xiaoli were one of four doubles teams which appeared to play poorly on purpose to secure a more favorable position in the next phase of the event. Two teams from South Korea and another from Indonesia were [also] disqualified … It appeared to be the first mass disqualification in Olympic history.

The feeble play was obvious to fans who attended the matches Tuesday night at Wembley Arena – they chanted, "Off! Off! Off!" – and to incredulous television broadcasters and viewers watching around the world.

How can you even tell when teams are not playing to win in badminton? They don’t throw their bodies into it? They don’t crash into the net?

"They’re serving fault and fault! They are just hitting the ball into the net!" the BBC’s David Mercer said in disbelief. "They are both trying to lose, and that is unforgivable. This is the Olympic Games."

Well, some might say the real scandal here is that badminton is an Olympic event. But who are we to judge?

Meanwhile, we have this report from Reuters:

New Zealander used brothel to fund Olympic taekwondo training

Wednesday August 1, 2012

LONDON – The path to the Olympics is not cheap, something a New Zealander named Logan Campbell discovered upon returning home from his taekwondo loss four years ago in Beijing. He faced a mountain of bills from travel, equipment, and training, almost $120,000 worth in American currency, and he couldn’t keep asking his parents to pay it.

London was going to cost him another $200,000. He needed money. He needed it fast. So he opened a brothel.

Not surprisingly, the brothel, and the publicity it stirred in Auckland when he announced his intentions in 2009, did not impress his country’s sports federation… The fact brothels are legal in New Zealand, as long as a list of guidelines is met, didn’t much impress the country’s sports ministers.

The New Zealand Olympic Committee sent him a letter telling him to stop linking prostitution to funding an Olympics journey or they would sue.

But something remarkable happened. Money came for taekwondo. More money than the country’s taekwondo team had ever received. No longer desperate for funds, Campbell sold the brothel in 2011. This spring, New Zealand put him on its London team…

What a wonderful story of the triumph of the human spirit. Maybe Hollywood will make a movie about it.

But speaking of money, we have this timely report from Americans for Tax Reform:

Win Olympic Gold, Pay the IRS U.S.

Olympic medal winners will owe up to $9,000 to the IRS

by Hugh Johnson | Tuesday, July 31, 2012

WASHINGTON, D.C. — While 529 hardworking athletes proudly represent the United States in the 2012 Olympics, any medals and money they earn wearing red, white and blue will be taxed by the IRS. According to research done by the Americans for Tax Reform Foundation, U.S. Olympic athletes are liable to pay income tax on medals earned and prizes received at the London games.

American medalists face a top income tax rate of 35 percent. Under U.S. tax law, they must add the value of their Olympic medals and prizes to their taxable income.

At today’s commodity prices, the value of a gold medal is about $675. A silver medal is worth about $385 while a bronze medal is worth under $5.

There are also prizes that accompany each medal: $25,000 for gold, $15,000 for silver, and $10,000 for bronze. So how much will U.S. Olympic medal winners have to pay in taxes to the IRS?

Medal Tax + Prize Tax = Total Tax Burden: Gold: $236 + $8,750 = $8,986. Silver: $135 + $5,250 = $5,385. Bronze: $2 + $3,500 = $3,502

American gold medal winners will pay the IRS up to $8,986. Silver medal winners will pay up to $5,385. Bronze medal winners will pay up to $3,502…

The article also points out that US athletes are practically the only ones who will have to pay taxes on their medals and prizes, because the US is virtually the only developed nation that taxes “worldwide” income earned overseas by its taxpayers. Isn’t that wonderful?

For the record, Florida Republican Senator Marco Rubio introduced legislation yesterday to exempt Olympic medal winners from federal taxes they would incur when they earn spots on medal podiums in London.

But what about all of the other Americans who get taxes on their overseas earnings? Most of them aren’t as ‘rich’ as these Olympians are, or will be.

This article was posted by Steve on Thursday, August 2nd, 2012. Comments are currently closed.

12 Responses to “Olympic Farewells, Brothels And Medal Taxes”

  1. untrainable says:

    “You have heartlessly shattered our dreams.” I’m sorry, I have to laugh. If you wanted to be a champion, maybe you should have played to win. If you wanted to be a champion, maybe you should have a little respect for the spectators. If you wanted to be a champion, maybe you should have taken some acting lessons so you didn’t look like you were trying to lose.
    But most importantly, if your dream is to be a badminton champion, you really need to get out more.

    • Rusty Shackleford says:

      Garden party 2044

      Host: “May I introduce Qua Ding Lo, badminton gold-medalist of 2012”

      (crowd looks around, sutpidly….curiously)

      Crowd member: “Who? Who is that? And what is this ‘bahd-min-ton’ of which you speak?”

      Host: “It’s a sport…you use a small racquet a net and a shuttle…..shuttle…..”

      Qua: “cock”

      Host: “Shuttlecock….yes…that’s it”

      (crowd giggles sophomorically)

      Host: “Please extend to Qua your utmost courtesy and kindness, thank you.”

      (crowd surrounds the guest, wanting to know more about badminton and such….thinking it’s like some sort of triple-X theater, thus frustrating the guest).

      Qua: “Hey…now….you stupid round-eyes….I not some pornoglaphic movie stah! I play badminton….Wait, I show you…”

      (leaves….returns with racquet and shuttlecock)

      Qua: “See? Dis—racquet…to hit…..dis (holds up shuttlecock)…..shuttlecock”

      (crowd giggles sophomorically again)

      Qua: “Now STOP DAT! Dis velly impahtant pat of game….widout dis…game no play…you have to play it like da vollyball…but with a racquet”

      Crowd member: “Seems rather silly.”

      (crowd mumbles in agreement)

      Qua: “No….not silly…..not silly at all. Velly impahtant spot in my home country…People’s republic. In fact, Prime ministah is best playah.”

      Crowd member: “Never heard of it. Say…do you guys have…like football over there?”

      Qua: “Oh yes….we play da ‘fewt-bahl’….only we call it ‘Jang-to-main’. Loosely translated….says ‘beat ball with shoe’. ”

      Crowd member: “No….not soccer….no….that’s stupid… I mean…like the NFL….you know FOOT-ball…where two guys line up once side against the other and try to make progress down the field while the other guys try to physically stop them….”

      Qua: “Oh…we have that…but….we call it….’worker uprising’ “

  2. JohnMG says:

    …..”Win Olympic Gold, Pay the IRS U.S……”

    I thought these athletes were all amateurs. Are they all making over $250,000 per year?

    Since they earned the medal on foreign soil, will they be taxed if they don’t bring it home but invest it in the Cayman Islands like Debbie What’s-her-name Schultz? Will Obama intercede and say, “If I won a medal it would probably look like an Olympic Gold.”, and rescind the tax?

    Can they get a waiver from Obama-care if they give the medal to Kenya……or the Nobel Peace Prize committee? How about if the medal winners say……’For the first time in my life I’m truly proud of America.’ ?

    How about if they say the say the U.S. is a downright mean country and renounce their citizenship while up on the podium. Or maybe they could convert to Islam and say paying taxes is against the Qu…….Kor…..whatever the flavor-of-the-month spelling happens to be now.

    Listen! Is that the Muslim call to prayer I hear?

    What a despicable bunch these progressives are.

  3. Right of the People says:

    Logan Campbell shows what the Olympics are all about. True Olympic spirit.

    I stopped watching years ago when all they showed except for the reruns at 2:00 am was woman’s gymnastics, swimming and the occasional bike race or marathon. There are tons of other events but the coverage is slim to none. And heaven forbid if they were ever to show a shooting event! Not PC you see using guns for something other than killing innocent citizens.

    • AndyN says:

      I’ve seen 10m air rifle and archery this year. I wouldn’t be surprised if there were other shooting sports at times that I haven’t been watching. There’s still a lot to complain about with the coverage, but I think adding channels to give exclusive coverage to basketball and soccer and having another sports channel pretty much dedicated non-stop to the other olympic events gave them more flexibility to broadcast things that you don’t see other than at the olympics.

    • Right of the People says:

      That maybe true but like you said, it was AIR rifles and archery not firearms which there is a ton of events. Smallbore and Largebore rifle and pistol. Slow fire, distance, rapid fire plus trap and skeet.

    • Rusty Shackleford says:

      My disappointment is the lack of sailing coverage. I am an avid sailor and sailing has been an Olympic event for decades. I don’t see why the media ignores it…it’s “green” using just the wind to move the boats around…should be an ideal fit. My guess is it’s because the third, fourth and fifth world nations don’t have anyone doing it..or it doesn’t cater to gender-confused people or blacks.

      When they see a sailboat with two or three white people in it…they figure, “Oh…they’re rich…they don’t need coverage”.

      Wanna know how many dirt-poor sailors I know (while pointing my own finger at me). Dozens. Old boats, taken care of by their owners, who actually SAIL…not just talk about it at the dock entrance with their pinky fingers extended.

  4. Right of the People says:

    Logan Campbell shows what the Olympics are all about. True Olympic spirit.

    I stopped watching years ago when all they show on the boob tube, except for at 2:00 am, are woman’s gymnastics, swimming and the occasional bike race or marathon or sprinting if Bolt is competing. There are tons of other events but the coverage is slim to none. And heaven forbid if they were ever to show a shooting event! Not PC you see using guns for something other than killing innocent citizens.

  5. Right of the People says:

    Oops, double posted when I thought I was editing.

  6. AndyN says:

    IRT the supposed lack of sportsmanship by the badminton players – I believe the expression the kids use is don’t hate the playa, hate the game. When an NFL team is 13-2 and has already locked up the top playoff seed going into the last regular season game, is it unsporting of them to rest their starters? Should they have to do their best to win what to them is a meaningless game even if doing so might hurt their chances at attaining their ultimate goal, just so the paying audience will be entertained? Or for an example closer to this particular issue, I’m pretty sure that relay teams can switch members between prelims and finals. Following the logic used here, if for tactical reasons a team put a lesser athlete in a relay for a prelim and then replaced him with someone better for the final, shouldn’t they be disqualified for not putting on a good show for the crowd at prelims?

    I guess it comes down to whether the olympics are supposed to be a spectacle or a competition. If they’re really supposed to be a competition, then it’s hard to fault the players for not caring about losing a prelim if winning that prelim would make it harder for them to eventually win the gold. And if it’s just supposed to be a spectacle, then why bother keeping score?

    • AcornsRNutz says:

      The olympics a spectacle? How oucld one even imagine such a thing? What little value tyhe olympics had to me was the national pride of setting a goal to go out there and crush everyone else in just about everything. That was the point of the original olympics. 1. Impress and pay tribute to the gods, 2. Prove you were better than everyone else where everyone could see it. I can respect that ethos I suppose. However, today and for the last few olympic cycles its just another gathering of greeny PC, “citizens of the world” showing solidarity and all that noise. Its dreck. I’ll keep my American sports thank you. THe best sports to play, watch and end enjoy are American (or in the case of hockey, perfected by Americans), and I really don’t care what other countries are doing with respect to those sports. The olympics are just like the world cup. It has nothing to do with the sport and everything to do with letting craptacular 3rd world countries feel good about themselves. This gives the world citizen libtard community all sorts of pageantry and hoopla to get excited about.

  7. canary says:

    Those Chinese Olympicers look like men; not female volley ball players. Just like China had all those littel gymnastic girls underage.

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