Slighly OT: Alabama Considering Making NIL Earnings Exempt from Taxes

[bbncal02]

https://tide1009.com/the-state-of-alabama-has-proposed-a-recent-change-in-nil-policy/

Lol. So, these VERY privileged individuals are now going to be able to making potentially millions and NO tax to the state.

What a giant middle finger to every person in that state that busts their ass at a manufacturing job, or teaching, or nursing, or any other "real" job (making WAAAAY less more than likely). But have to pay their fair share.

I really hate where some things are going man. Laws keep making a caste system and we only need look to India to see how shitty that is.

I'm against this on principle. Any thoughts? It would be one thing to exempt EVERYONE. But create a special class of people that are above the system? That's crap.

 

[jedwar]

Didn't another state just do this? Georgia maybe?

 

[All Facts]

As a finance professional, this is really bad form and a horrible proposition for the people of Alabama. Professionals are taxed; what's the arguing for not taxing NIL?

 

[bbncal02]

Didn't another state just do this? Georgia maybe?

I think its up for a vote in Georgia as well.

America is head for an oligarchy and class system big time if this crap keeps up

 

[Catluv]

Either we keep up or fall behind. Don’t like it but we need to be on an even playing field. Tenn,Texas and Florida already don’t have a state tax. The article said Mizo and Texas have laws that the NCAA can’t look at NIL.

 

[bbncal02]

As a finance professional, this is really bad form and a horrible proposition for the people of Alabama. Professionals are taxed; what's the arguing for not taxing NIL?

They want sports to be able to leverage it. "Don't play at Kentucky. They'll tax you!"

Slimy in my opinion.

 

[LineSkiCat14]

Alabama probably knows their entire economy lives and dies with Alabama Football lol.

 

[bbncal02]

Alabama probably knows their entire economy lives and dies with Alabama Football lol.

That's the thing though, if I'm a teacher in Alabama this makes me feel pretty worthless. Either exempt EVERYONE'S income or no one's.
Gotta love this though, imagine making athletes getting NIL tax exempt but police officers and soldiers? Eff 'em.

"Damn, this kid dribbling a basketball? Whew! He's better than everyone else! Oh, the cop that just got shot? Nah, we're not cutting him a break."

This just offends my sense of fairness and justice something awful. I know life isn't fair (and can't be) but by God, the law SHOULD be.

 

[westerncat]

So is just for players only ?

 

[PopesReignOverCardinals]

America is head for an oligarchy and class system big time if this crap keeps up.

We have already been there for a long time. Every person making (or that has made) a fat salary from the government, an NGO, or other form of agency that is (in)directly funded by the government is part of the oligarchy.

 

[Dontworryboutit23]

https://tide1009.com/the-state-of-alabama-has-proposed-a-recent-change-in-nil-policy/

Lol. So, these VERY privileged individuals are now going to be able to making potentially millions and NO tax to the state.

What a giant middle finger to every person in that state that busts their ass at a manufacturing job, or teaching, or nursing, or any other "real" job (making WAAAAY less more than likely). But have to pay their fair share.

I really hate where some things are going man. Laws keep making a caste system and we only need look to India to see how shitty that is.

I'm against this on principle. Any thoughts? It would be one thing to exempt EVERYONE. But create a special class of people that are above the system? That's crap.

This spring once the championship happens they need to get multiple people involved and sit for like a month and try to find ways to regulate this

 

[FirewithFire]

Damn smart from a leverage point of view. Slimy from a moral standpoint.

This move will generate recruits for Alabama and Auburn. It just will. If the government is going to dip their toes in this pool then it is time to get involved in regulations.

Truth is I'm not for taxes period, but if you're going to tax one tax all.

 

[bbncal02]

We have already been there for a long time. Every person making (or that has made) a fat salary from the government, an NGO, or other form of agency that is (in)directly funded by the government is part of the oligarchy.

Oh I know. It's just not "official".

And look, don't get me wrong, I'm a big fan of capitalism. But if people in society don't pay their fair share, nothing gets done. And sadly it looks more and more like the wealthy keep finding ways out of contributing to the betterment of our country.

I mean, how do you think crap got done before capitalism? Monarchs and Lords spent money to make towns better so more people would live there (and get more tax revenue).

 

[PopesReignOverCardinals]

Damn smart from a leverage point of view. Slimy from a moral standpoint.

Agreed. It's about creating an advantage for those schools. If the players go untaxed, then that is less money that fans have to contribute to the NIL fund just to create an even playing field of being untaxed in Alabama vs. being taxed in Kentucky.

 

[bbncal02]

Damn smart from a leverage point of view. Slimy from a moral standpoint.

This move will generate recruits for Alabama and Auburn. It just will. If the government is going to dip their toes in this pool then it is time to get involved in regulations.

Truth is I'm not for taxes period, but if you're going to tax one tax all.

And that's the problem with where we are at these days. "Well, it's not right, but it's legal....."
I can remember moons ago, I had a friend get screwed over by her boss. What he did was technically illegal; but due to the nature of the town? No one wanted to step up to the boss and present the case.

We have to become a somewhat moral society again, or we are just screwed.

 

[MegaBlue05]

Imagine that. Alabama, one of the poorest states in our country, opposes taxing soon-to-be millionaires.

If I was working in construction, manufacturing or retail in Alabama I would be upset. But, I am sure it will be spun as a recruiting advantage and the masses will accept it and say “Row Tahd” or the thing about the eagle.

 

[bbncal02]

Agreed. It's about creating an advantage for those schools. If the players go untaxed, then that is less money that fans have to contribute to the NIL fund just to create an even playing field of being untaxed in Alabama vs. being taxed in Kentucky.

Here's the thing though. If I'm a member of one of those NIL funds, and my money is getting taxed that I earn, but there's isn't? How's that gonna make me feel? Why should I give to someone that's gonna have less rules and money removed? Not fair.....at ALL

 

[Usmcincy]

It would be impossible for anyone to compete with these states, unless we do the same thing

 

[bbncal02]

Imagine that. Alabama, one of the poorest states in our country, opposes taxing soon-to-be millionaires.

If I was working in construction, manufacturing or retail in Alabama I would be upset. But, I am sure it will be spun as a recruiting advantage and the masses will accept it and say “Row Tahd”

Hey now, you never know! Bubba that didn't finish college might re-enroll and land that million dollar NIL deal at age 45 smoking three packs a day!

My point being on that, stop worshipping politicians and rich people. They are NOT like the majority of this country. And 99% of them? Don't give a rat's patootie about any of us.

 

[bbncal02]

It would be impossible for anyone to compete with these states, unless we do the same thing

Ding ding ding. So now, all fifty states decided to do it, and the average Joe/Jane in those states (minus a few that don't have income tax) are going to be paying Local/State Sam money while some kid dribbling a basketball making more money than most of them will ever see, get off tax free. Even better, say that kid is really good and leaves after one or two years. He made more money in your state, than you will in say 5-10 years and didn't contribute a DIME to your local services.

If that doesn't make you indignant as hell, well.....

 

[PopesReignOverCardinals]

Here's the thing though. If I'm a member of one of those NIL funds, and my money is getting taxed that I earn, but there's isn't? How's that gonna make me feel? Why should I give to someone that's gonna have less rules and money removed? Not fair.....at ALL

I think many people oppose double taxation. You paid the tax on the money that you donated.

I'm all for 0% state income tax if we want to go there. Several states in the SEC have a competitive advantage over UK in that aspect, so I'm fine if NIL earnings are not taxed if it creates an even playing field for UK.

 

[MegaBlue05]

Hey now, you never know! Bubba that didn't finish college might re-enroll and land that million dollar NIL deal at age 45 smoking three packs a day!

My point being on that, stop worshipping politicians and rich people. They are NOT like the majority of this country. And 99% of them? Don't give a rat's patootie about any of us.

Exactly.

I have never understood worshipping athletes, celebrities and politicians. No matter what side one is on, none of our elected officials would voluntarily associate with any of us peasants unless we were at a $5,000 a plate fundraiser.

Heck, I need to see if I burned all my eligibility in my college days. I’m great at wearing hats and holding clipboards. QB3 at South Alabama, here I come!

 

[bbncal02]

I think many people oppose double taxation. You paid the tax on the money that you donated.

I'm all for 0% state income tax if we want to go there. Several states in the SEC have a competitive advantage over UK in that aspect, so I'm fine if NIL earnings are not taxed if it creates an even playing field for UK.

Again. Most states in the south can't afford it. No way in hell can they. Kentucky is working on it, but it's over the course of several years.

A State like Mississippi or Arkansas would collapse without an income tax.

 

[PopesReignOverCardinals]

Again. Most states in the south can't afford it. No way in hell can they. Kentucky is working on it, but it's over the course of several years.

A State like Mississippi or Arkansas would collapse without an income tax.

How much money are we talking being "lost"? It's not going to be a make or break because $25m of NIL earnings wasn't taxed at 4%. If a state is going to collapse over a few million, then it has much bigger problems than not taxing NIL.

 

[Joerules19]

Damn smart from a leverage point of view. Slimy from a moral standpoint.

This move will generate recruits for Alabama and Auburn. It just will. If the government is going to dip their toes in this pool then it is time to get involved in regulations.

Truth is I'm not for taxes period, but if you're going to tax one tax all.

Tells you a lot about the legislators in those states and what they value

 

[CastleRubric]

Ding ding ding. So now, all fifty states decided to do it, and the average Joe/Jane in those states (minus a few that don't have income tax) are going to be paying Local/State Sam money while some kid dribbling a basketball making more money than most of them will ever see, get off tax free. Even better, say that kid is really good and leaves after one or two years. He made more money in your state, than you will in say 5-10 years and didn't contribute a DIME to your local services.

If that doesn't make you indignant as hell, well.....

With the outside possibility that the NCAA asks congress for bailout money (taxes?) where they're deemed liable in short changing players -

AP News - NCAA Asks Congress to Step In - Jan25

 

[Usmcincy]

I’ll add a caveat to my previous comment

But this is essentially where I draw the line. College sports is entertainment, and after watching our last coach brag about how much his former players make was infuriating once it became apparent that our most wealthy “alumni” will never give a dime back to the school.

These kids not paying a dime in taxes when I lose a quarter of my paycheck every 2 weeks is where I completely stop giving a damn about college athletics.

 

[PopesReignOverCardinals]

Tells you a lot about the legislators in those states and what they value

Perhaps they believe that being successful is worth more than the tax? UK and other schools being successful in sports is worth more to the state by driving commerce than a few extra million in tax revenue would be.

 

[FirewithFire]

Imagine that. Alabama, one of the poorest states in our country, opposes taxing soon-to-be millionaires.

If I was working in construction, manufacturing or retail in Alabama I would be upset. But, I am sure it will be spun as a recruiting advantage and the masses will accept it and say “Row Tahd” or the thing about the eagle.

Most people have an extremely poor understanding of taxes in general. Most couldn't even tell you how much is taken from their checks every pay period. As long as they get that refund they are satiated.

I can also guarantee you that most will not give a single ish if it means Alabama sports benefits from the new law. Same could be said for this state.

 

[yabbadabbadoo]

This is a very slippery slope.
You know what happens when you walk on a slippery slope?

 

[JrandoUK]

https://tide1009.com/the-state-of-alabama-has-proposed-a-recent-change-in-nil-policy/

Lol. So, these VERY privileged individuals are now going to be able to making potentially millions and NO tax to the state.

What a giant middle finger to every person in that state that busts their ass at a manufacturing job, or teaching, or nursing, or any other "real" job (making WAAAAY less more than likely). But have to pay their fair share.

I really hate where some things are going man. Laws keep making a caste system and we only need look to India to see how shitty that is.

I'm against this on principle. Any thoughts? It would be one thing to exempt EVERYONE. But create a special class of people that are above the system? That's crap.

Well I think I’m gonna quit paying taxes if this crap gets passed!!!

 

[Lempface]

Tells you a lot about the legislators in those states and what they value

Imagine being in that position and trying to give your favorite sports teams advantages as a priority. Absolutely embarrassing waste of time to benefit such a small number of people, while at the same time missing out on funds that could actually do good in the state. The amount of effort we put in helping the rich get richer is insane.

 

[NerlensCat]

Alabama probably knows their entire economy lives and dies with Alabama Football lol.

I live in Alabama. Absolutely not true. Very heavy in manufacturing. They just want a recruiting advantage. I think this is win at all cost and it is terrible policy regardless of state.

 

[bbncal02]

Perhaps they believe that being successful is worth more than the tax? UK and other schools being successful in sports is worth more to the state by driving commerce than a few extra million in tax revenue would be.

So are doctors not successful? Police officers? Firefighters? Veterans? Are we going to say some people are better than others because they are worth more? That's a really Machiavellian thought if that's what you're driving at.

 

[Smashcat]

As a finance professional, this is really bad form and a horrible proposition for the people of Alabama. Professionals are taxed; what's the arguing for not taxing NIL?

👍

 

[PopesReignOverCardinals]

So are doctors not successful? Police officers? Firefighters? Veterans? Are we going to say some people are better than others because they are worth more? That's a really Machiavellian thought if that's what you're driving at.

Collegiate program success is not the same as individual success in any random profession. Crowds of tens of thousands of people who are willing to spend money don't show up in the city of Lexington to watch any of those other people perform.

 

[chroix]

I don’t like it and seems like it would be easy to scam. Just tell your job to not pay you directly but create a contract that pays you for NIL for whatever you do. Construction worker? NIL! Steve the construction worker! Cashier? NIL! Same with tip wages. Just make your salary $1 and then get a tip for the rest. Economy should be clicking in no time. 🤦‍♂️

 

[UKBB4Ever]

As a finance professional, this is really bad form and a horrible proposition for the people of Alabama. Professionals are taxed; what's the arguing for not taxing NIL?

Recruiting

 

[JumperJack]

Professionals are taxed; what's the arguing for not taxing NIL?

To beat Georgia, of course.

 

[Catluv]

This is a very slippery slope.
You know what happens when you walk on a slippery slope?

You get bigger cleats than everyone else!!