By Robert W. Wood, Contributor Phil Mickelson has mentioned making “drastic changes” because of recent tax increases, including California’s huge new–not to mention retroactive–taxes on the wealthy. He even suggested that taxes were one of the reasons he withdrew from the investment group buying San Diego’s Padres. “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,” Mickelson said after his T37 finish at the Humana Challenge in Palm Spring, Calif.
Source: FULL ARTICLE at Forbes Latest
Tag Archives: Humana Challenge
Pro Golfer Phil Mickelson May Leave US In Response To State, Federal Income Tax Hikes
Professional golfer Phil Mickelson told reporters Sunday that he is considering “drastic changes” in response to state and federal income tax hikes — including possibly leaving the United States.
“It’s been an interesting off-season. 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,” Mickelson said during a press conference following the Humana Challenge golf tournament in La Quinta, Calif.
When pressed by reporters about whether those “drastic changes” could include leaving California or even the United States, the four-time major championship winner didn’t foreclose the possibility. But he made clear the reason he is considering such drastic options is the massive tax burden he now shoulders.
“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,” said Mickelson.
In November, California voters approved Democratic Gov. Jerry Brown’s Proposition 30, which raised taxes on all state residents who earn more than $1 million in annual income. California now has the highest state income tax rate in the nation.
Read More at dailycaller.com . By Jessica Stanton.
Photo Credit: Golf Charity Blog (Creative Commons)