None of the above are in the entertainment industry. Kinda an apple and orange thing. Love sports but it is just a vehicle to entertain the masses!!
Slighly OT: Alabama Considering Making NIL Earnings Exempt from Taxes
- Thread starter bbncal02
- Start date
In practice this seems more like a publicity stunt than an actual recruiting advantage. Florida, Tennessee and Texas already don't have state income taxes. Maybe Georgia and Alabama have specific examples of recruits picking schools from those states over them because of the income tax discrepancy??? I doubt it.
No it isn't. It's INCOME. Doesn't matter where it comes from. Everyone should be taxed or no one should be.
I was meaning no one goes to a stadium to watch any of the dr, police. People want them around but don’t pay to watch them. I think these players have been getting paid just we know more now.
The argument is this: Anything that helps Bama win is always a good thing!
No deeper analysis needed.
I agree with your point, but I'm not sure your examples are actually ones that work. 50% of my salary is paid through a grant from the U.S. government, and I don't think I am part of the oligarchy.
Yeah I am sure it is that. I highly doubt many of those legislators went to an Alabama school. It is a recruiting ploy plain and simple.
There is no valid argument for that. And if I was a voter in a state where that was proposed, they would find out.
I live in Alabama and they tax my groceries if they do this it is a slap in the face to every Alabama taxpayer.
And if I'm a fan in one of those states, I don't donate a penny to NIL.
Yes, over the course of a few years. But that will be for everyone, not just a select few.
That’s what they do best, exempt people who don’t need it.
It already is. 1% of the people own 99% of the wealth. I love capitalism but our system has been abused like the rest of them. Corruption and not enforcing monopoly laws created it.
Yep, either we're all equal under the law or we're not. And I think we sadly know the answer to that.
We're headed towards a French style revolution. History shows that.
The issue is that they are still taxing everyone else’s income but they are not going to tax an 18-21 YO who won’t be adding a great deal to the economy. If they want to get rid of income tax for every one and go with a consumption tax like Florida, have at it. I am all in on that.
Reminds me of a Charles Barkley story from years ago.
He said he rarely pays for meals now. Gets free dinners almost everywhere he goes. And he can pay. But when he was broke he couldn’t get a meal anywhere. 😆
I think that the government should make clear whether NIL is earned income by employee-athletes of a college or a gift to an non-employee of a college who happens to play a sport. Taxes on earned income is paid by the person receiving the money. Taxes on gifts are paid by the giver. As of January 1, 2025, each person in the United States can give 13.99 million dollars total lifetime before having to pay the gift tax. However, each giver can gift $19,000 a year to an individual (no limit on number of persons gifted) that doesn't count against the lifetime gift tax exemption. If you gave one person $30,000 in 2025, The $11,000 ( $30,000 - $19,000) would count against your lifetime limit. A husband and wife could give someone $30,000 without triggering the limit as each could claim $15,000 of the amount. For example, someone like Bill Gates or Elon Musk could give 1,000 people $19,000 each for a total of 19 million dollars, and it wouldn't count against Gates or Musk's lifetime gift limit of 13.99 million dollar lifetime tax free gift exemption. So, are college athletes employees of the university earning a wage or is NIL a gift? The IRS needs to decide this.
This pisses me off.
It's one thing to pay college kids to play basketball, but not making them pay taxes is BS!
If I have to pay taxes, then athlete's should too!
It's one thing to pay college kids to play basketball, but not making them pay taxes is BS!
If I have to pay taxes, then athlete's should too!
Yeah. It’s a recruiting tool. No doubt response to Florida, Tennessee, Texas already being tax free
Sales tax is the proper way to tax….especially if they exempt certain items such as diapers/baby formula/feminine hygiene products, produce. Income tax is criminal. I’d rather pay a tax on what I personally consume as an individual vs have my paycheck cut by 1/3 to go to things I rarely directly see. They’ll say “roads and schools” but if that was the case it wouldn’t take 20 years to do basic highway construction.
Nah you and me are peasants. The laws only apply to us.
I hope whoever proposed this gets voted out next election, but I don't have much hope of that. Needless to say this is an unjust proposal. I feel similarly about the use of NIL contributions being "charitable donations" for the wealthy people paying into them.
I know the idea of "student athlete" has been a joke for a while now, but it's certainly a disservice to these kids' education to pay them without taxing them.
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Sales tax results in lower income people paying a higher tax rate, I've never understood how people see that and claim it's more ethical than income tax. I'm more sympathetic to a flat income tax than to abolishing income tax in favor of sales tax.
It'll be the other way around. We FAR out number the rich in this country. What we're headed for is France, July 1789.
1. Economic Distress: Getting There- food prices in France grew astronomically leading up to the French Revolution (look around
2. The Estate System: Pretty much there just different names Instead of the Clergy it's Political Class; Nobility still exists we just call them upper class, and the Third Estate still exists- it's all of us regular folks fighting daily to get by.
3. Focus on Individual rights- that's still a topic today- how do our rights work within an ever growing government and widening class gap.
It's actually a bit scary when you think about it.
Well, every citizen who lives in an oligarchy is part of one but there is kind of a difference between the ones in control of an oligarchy and the ones with the boots on their necks.
The French oligarchs didn't have planes and missiles and nukes to defend themselves...yeah it is scary.
Oh no doubt. Revolutions today will make the ones of the past look like Sunday strolls through a floral-laden field.
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