Go for the Gold - August 19, 2016

The IRS taxes our Olympic champions.

The U.S. Olympic Committee pays a relatively small amount of cash to our country’s Olympic medal winners, and the IRS taxes those cash awards.  That’s fine I suppose.  But it also taxes our Olympians on the value of the Olympic medals they receive as trophies.  How do you spell RIDICULOUS?

Do the bureaucrats at the IRS actually think that the Olympians are going to melt down their medals, so they can sell the precious metals for money?  Or maybe the “Service” thinks they will use their Olympic medals as barter in Las Vegas?  Do they expect O. J. Simpson to become an Olympic medal winner?

Now I’m not suggesting merely that the practice of taxing the Olympic medals should be stopped.  No, I want to go for the gold.  I say the IRS should be put out of business.  Our country needs a complete overhaul of its tax laws and system.