One Man's Reaction To Obama's/Brown's Tax Increases

Quote from denner:

You hit the nail on the head.

Phil also has to battle with arthritis, which for a professional golfer, could be a career ender. My guess is that he had one foot out the door already and the tax hit was all he needed to say that he will play a very limited schedule or possibly retire.

Those guys travel so much that unless they take their kids on the road with them, they might be away from home for a month to six weeks at a time...

Yep, and he could play another 5 years on the regular tour -- make a lot more $$$ -- but miss his kids growing up which he could never get back. Retire now with quality family time and he can always go back and play the Champions Tour in 10 years or so if he wants/needs more $$$.
 
Quote from DHOHHI:

Yep, and he could play another 5 years on the regular tour -- make a lot more $$$ -- but miss his kids growing up which he could never get back. Retire now with quality family time and he can always go back and play the Champions Tour in 10 years or so if he wants/needs more $$$.

Truth be told, and I'm betting Phil has already worked this out...but I bet that he can still retain some of his endorsement deals and play in a handful of Majors and probably still make a big chunk of change.

I don't remember the exact numbers, but a few years back he was in the 60-70mil+ range per year...and less than 10% of that was actual PGA Tour Earnings.
 
TIGER WOODS: I LEFT CA BECAUSE OF HIGH TAXES ... IN '96

On Tuesday, Tiger Woods said he moved from California to Florida in 1996 to avoid the state's high taxes.
Woods was at Torrey Pines preparing for this weekend's PGA tournament near La Jolla, California when reporters asked if he would respond to Phil Mickelson's comments on Sunday that California's high tax rate would force Mickelson to either move out of the state or make "drastic changes" to his career. Woods said:
"I moved out of here back in '96 for that reason. I enjoy Florida but it was also...I understand what he was I think trying to say. I think he'll probably explain it better in a little bit more detail."
Woods was raised in Cypress, California, which is in Orange County. He grew up playing and learning golf on a public golf course--Dad Miller Golf Course. He also attended Stanford University in Northern California and was an Orange County resident before making the move in 1996 to Florida. Florida has no state income tax.
California does have a state income tax. And after California voters passed proposition 30 last November, those making over $1 million now have to pay a 13.3% state income tax rate. Woods and Mickelson rank first and second, respectively, in career earnings on the golf course. Woods has earned over $100 million while Mickelson has made nearly $70 million. They have made more off the course in endorsements.
 
Back
Top