According to The Washington Times’ Stephen Dinan, Americans for Tax Reform says that gold medalists receive a $25,000, on which they have to pay $8,986 in taxes. So Rubio introduced The Olympic Tax Elimination Act Wednesday to free them from that. He says in a press release, “Our tax code is a complicated and burdensome mess that too often punishes success, and the tax imposed on Olympic medal winners is a classic example of this madness.
How does this make any sense at all? You have income, you pay income tax on your income. That is neither complicated nor burdensome. On the other hand, carving out a tiny tax exemption for Olympic medalists? Seems highly complicated to me. Does Marco Rubio want a simple tax system, or does he want a complicated one?