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?
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.
TRANSLATION: Why work my tail off if I’m still going to be taxed at 62%?
I guess we can just chalk this off to another one of the sorry #ObamaAccomplishments. Iwould tweet more about that, but Twitter has given me a time out.