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Thursday, December 06, 2012

Baseball Players Are Also Worried About the Fiscal Cliff

Too bad we never saw the pitching matchup of Simpson-Bowles

B.J. Upton, the talented Major League Baseball outfielder, just signed a $75.25 million deal to play for the Atlanta Braves in the next five years. That’s a lot of money, even spread out over five years, and it comes with an unusual provision—a $3 million bonus to be paid before Dec. 31, 2012.

The date is a giveaway: If Jan. 1 arrives in the U.S. with a government plan to avoid the fiscal cliff, or if President Obama has his way and resets tax rates on the wealthy to Clinton-era levels, getting paid a day early will save Upton $120,136.

Maybe that doesn’t sound like a lot of money for someone scheduled to receive a salary of $12.45 million next season, but it’s more than twice as much as the average American earns in a year. Someone in Upton’s coterie of agents, lawyers, and accountants has an eye on the nation’s upcoming austerity trigger.

RoyalsRetro (AG#1F) Posted: December 06, 2012 at 09:55 PM | 7 comment(s) Login to Bookmark
  Tags: bj upton, braves, fiscal cliff

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   1. dr. scott Posted: December 07, 2012 at 02:18 PM (#4319557)
Given that the US Govt has granted Baseball the monoply it believes is necessary to make so much money for the players and owners.... maybe they should just not complain and pay their taxes... or maybe they assume political contributions are enough to settle that debt.

Also, even players at the league minimum, if they have enough deductions, may not see thier taxes go up under the presidents plan

(I know this is a general liberal argument why all people should pay taxes, but in this case it seems fairly cut and dry.)
   2. shoewizard Posted: December 07, 2012 at 10:16 PM (#4319812)
McCarthy got a similar bonus in his deal.

   3. Robert in Manhattan Beach Posted: December 08, 2012 at 02:17 AM (#4319851)
Everyone thinks you should pay your taxes...and then runs around a does everything under the sun to avoid paying their taxes. Many things divide us but this behavior is universal.
   4. The Anthony Kennedy of BBTF (Scott) Posted: December 08, 2012 at 03:25 AM (#4319856)
Many things divide us but this behavior is universal.


There's gotta be people out there who could gain from itemizing their deductions and don't from sheer laziness. Also, it's not hypocritical to support higher taxes on yourself and still pay only what you owe. It'd be hypocritical only if you were calling others out for taking deductions and credits you yourself were taking.
   5. Greg K Posted: December 08, 2012 at 07:54 AM (#4319866)
I'm avoiding taxes this year by not submitting my time sheets.

Can't tax me if I don't get paid, suckers!
   6. Fernigal McGunnigle has become a merry hat Posted: December 08, 2012 at 10:32 AM (#4319892)
Given that the US Govt has granted Baseball the monoply it believes is necessary to make so much money for the players and owners.... maybe they should just not complain and pay their taxes...


No one is complaining in the article, only arranging their bonuses is such a way as to avoid a potential tax hike.

Everyone thinks you should pay your taxes...and then runs around a does everything under the sun to avoid paying their taxes. Many things divide us but this behavior is universal.


Upton's deal hardly seems like an extreme effort to avoid paying taxes. He signed a contract in November and is getting his signing bonus in December. As tax dodges go, that seems pretty insignificant.

I agree with the general idea that people should be more willing to pay their taxes (and that we should eliminate the majority of tax loopholes), but there's nothing in the article that is particularly unpleasant.
   7. Rafael Bellylard hoists a dry martini. Posted: December 08, 2012 at 10:37 AM (#4319893)
There's nothing wrong with avoiding taxes. It's evading them that gets you in trouble.

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