U.S Olympians Win the Gold, but Pay the Price.

Olivia Brown, Staff Writer

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simone-biles_gold-medal_usatsi_9471477              Winning an Olympic medal is arguably one of the most rewarding moments in any athletes life. The roars from the crowd and the love from ones country is what makes winning a medal so honorable. The moment is great, until its over. Each American Olympian is required to pay a state and federal tax on each of their medals.

Needles to say, the athletes who win more than one medal will pay a lot more taxes. According to BBC news, the cost of tax money on medals are approximately: $10,000 for a gold medal, $6,000 for a silver medal, and $4,000 for a bronze medal. “Why”, is the question that all of America wonders. The United States is one of the only countries in the world who make their Olympians pay taxes on their golden moment.

One could conceivably say that there is no distinction between the earnings of winning an Olympic medal and winning the lottery. American Olympians are taxed on their prize money just as a lottery winner has to pay taxes.

While many star athletes consume endorsements from companies, some aren’t so lucky. Most Olympians return back to their regular lives in the United  States where they invest in school and a normal job. A tax bill is not really something everyone can afford.  According to CNN, the U.S does not supply their Olympians with government funding like other countries.

However, not everyone feels the same about the taxes! Others disagree with the fact that the Olympians tax money is less than the taxes that other award winning people pay. Samantha Goewey , journalist, wrote in the Seton Hall Journal of Sports and Entertainment Law, “what makes Olympians more worthy of a tax benefit than Nobel Prize winners, Pulitzer Prize winners, and World Cup champions.”

The efforts to reduce the taxes of the medals are being pursed by the International Olympic Committee and some American politicians. While this controversy is still unsettled, all  American athletes are still wearing their medals proudly. No matter what the tax is, they represent the greatness of america.

 

 

 

 

 

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