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Nothing says "give up" quite like a 62% tax rate. And so golfer Phil Mickelson is thinking about calling it quits. Why work hard when you only get to keep 38 cents of every dollar you earn?
Once football is over Mr. LC likes watching golf. Well, thanks to the big taxing democrats there may be one less American golfer for him to root for. Phil Mickelson says that he needs to re-think his career thanks to the tax code. Not only is he a victim of the federal tax code, but also California's. The man's been through a lot in the past few years, who can blame him for thinking it's a waste of time to keep it all up?
Not me. You'd have to be an idiot to want to live in California. And Phil Mickelson is no idiot.
PHIL MICKELSON: Well, it's been an interesting offseason. And I'm going to have to make some drastic changes. I'm not going to jump the gun and do it right away, but I will be making some drastic changes.
Q. Meaning leaving from California?
PHIL MICKELSON: I'm not sure.
Q. Moving to Canada?
PHIL MICKELSON: I'm not sure what exactly, you know, I'm going to do yet. I'll probably talk about it more in depth next week. I'm not going to jump the gun, but there are going to be some. There are going to be some drastic changes for me because I happen to be in that zone that has been targeted both federally and by the state and, you know, it doesn't work for me right now. So I'm going to have to make some changes. …
PHIL MICKELSON: Yeah. I'll probably go into it more next year or next week. But if you add up, if you add up all the federal and you look at the disability and the unemployment and the Social Security and the state, my tax rate's 62, 63 percent. So I've got to make some decisions on what I'm going to do.
Q. How do you balance that against the Tour's retirement plan which by all standards is the best retirement plan in sports?
PHIL MICKELSON: I don't understand. What do you mean?
Q. Well, I mean I understand the 60 percent part of the equation, but in the Tour's plan, you guys put about as much money aside as you want. It's treated differently under tax laws than most anybody else's tax plans. Where most people can only put away $45,000 or $50,000, you guys can put as much away as you want. And so at the end you guys end up with a much larger pot of gold than most people can.
PHIL MICKELSON: But when it comes out, it's still taxed at the same 62 percent rate.
My liberal friends like to pretend that people don't make life and career decisions based on tax policy. Tell that to Phil Mickelson, and all the other folks who are fleeing California. Sorry golf fans, John Galt called, and the PGA Tour's favorite lefty is no leftist. Phil Mickelson values freedom over indentured servitude.
You da man, Phil.
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