Starting next season (for the sake of convenience), Alex Ovechkin will pay $405,000 more per year in income taxes under President-elect Obama's proposed tax plan than he would have under the current tax code, and $450k more in the out-years of his contract (assuming that the proposed tax plan is enacted and still in effect). Over the 12 years remaining on his current contract, that's an additional $5 million-plus headed into Uncle Sam's coffers instead of AO's bank account.
We, as Americans, say thank you, Alex.
H/t to Forbes.com
It really sucks to be rich!
Wah wah, that's so terrible.
How will he ever survive on just more money each year than most families will see in generations?
I'm more worried about how he's going to hit /me/. XD
So first we complain at any increase in ticket prices to cover these salaries. And then we are, what, supposed to feel sorry for them when they take a larger tax hit?
Give me a break.
I don't think anyone is supposed to or does feel sorry for any pro athlete's tax burden.
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