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Posted (edited)

It makes little sense to talk about the tax rate as if we were all taxed the same. Pro football players probably pay a much higher rate than the owners when everything is taken into account. The players aren't moneybombing the politicians in order to get a few convenient tax loopholes. Any politician that tries to raise taxes on the wealthiest families will be buried in attack ads. That's why you pay a higher rate than Amazon.com which gets enormous tax refunds each year. The players are mostly in that income strata where the rates are highest and they can't call it capital gains or set up fake corporations or tax shelters overseas. 

One trick used to avoid taxes is to set up a fake corporate office in a place like the Canary Islands and deposit a huge portion of your earnings or dividends in the overseas branch of your bank in the same place -- the Canary Islands in this case. Then you call the US branch of your bank to take a big loan (which isn't taxed). The bank simply takes the amount of the loan from your Canary Islands account and that money stays there. The loan is repaid almost immediately overseas where the US government can't touch it. No taxes or very little. No interest because it was repaid almost immediately. Neat trick, huh?
Maybe the NFL should offer that 'service' to the players or adjust salary caps to account for differing state tax rates.
Edited by GreggTX
Posted

I think if they still get a good player who is still 26 to 28 as they can offer a longer deal than they would give Poyer, and still have a low cap hit for this season. But a four-year deal is not as good of a gamble with a banged-up 32-year-old.

  • Agree 1
Posted
On 3/1/2023 at 11:17 PM, Solomon Grundy said:

Sydney Brown(Illinois) or Riley Moss(Iowa) are good late round prospects at safety

Brown is projected as a second round pick on most big boards. 

On 3/2/2023 at 1:50 PM, boater said:

When you account for total tax burden (Income Tax, Property Tax, Sales Tax, etc.) New York is the highest taxed state in the union. Yay, we're #1 in something.

 

https://taxfoundation.org/tax-burden-by-state-2022/

 

 

But you have the best state legislature by far. At least i think they are the best, they are the highest paid. 

Posted

Poyer is expendable.  Age and injuries are catching up with him.  Draft a young guy and sign a FA.  Loss of Edmunds hurts more. 

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