JrzyTmata wrote: 
The International Olympic Committee does not hand out cash prizes but a number of countries do.. The US Olympic Committee awards US medal winners cash prizes.  Currently that money is taxed.

But Republican Senator Marco Rubio wants that to end.

Marco Rubio Wants To Stop Taxing Olympic Medal Winners

Just thought we should be up to speed with all the facts if we are going to discuss this.

 steeler wrote: 
ok. thanks.

 JrzyTmata wrote: 
Of course other deductions would adjust the tax rate, just like how you pay taxes. It's income.

 lily34 wrote: 

One can accept income through, for example, subsidies for training, prize money, and commercials, etc, and still compete in the Olympics.  

 

 hippiechick wrote: 
wouldn't that tax depend on the athlete's other income combined? I doubt they pay much tax in the end.

 lily34 wrote: 
Yes it does. In order to keep the teams competitive it was necessary to change the rules.

 kysmet wrote: 
so does this make them "professional" athletes if they're paid? or is this a stupid question

 kysmet wrote: 
The American Olympics team is a private org that receives no $$$$ from the gov. They are like any other "employee" or athlete.

 hippiechick wrote: 
I heard that this morning. It's lame. They should get a pass on that money, imo.

A little fact you probably didn't know: The Olympians also receive cash prizes which are taxed by the gov:

Gold medalists: $25,000  Tax: $8,896
Silver medalists: $15,000  Tax: $5,385
Bronze medalists: $10,000  Tax: $3,500

                         Let The Games Begin!

 beamends wrote: 
There won't be any homeless persons to visit — they'll all be swept well clear of London by the start of the games. 

And given that London has been an inviting terror target, the security for this will be unprecedented.  

 MrsHobieJoe wrote: 
London-centric events such as this are of no interest and completely unaffordable anyway.It's just a feeding-frenzy for the 'corporates' and their flunkies. If I did go I can't get my favourite soft drink, I'd have to pay on a brand of credit card I don't use (no cash in most places apparently), and there's nowhere to park the car. Always a complete waste of time and money, in the current financial climate is verging on unforgivable. Coe and his mates should personally visit every homeless person and explain to them why a lot of people running round being watched by all-expenses-paid-have-another-free-drink people with no interest in athletics (but a keen interest in ladies beach volley ball for some reason) are more important that their having a roof over their head.

The Olympics should be based permanently in, or near, Olympia to stop this stupidity once and for all.

Rant over

 NoEnzLefttoSplit wrote: 
I think it's there way of trying to get full houses at even the earliest stages, rounds 1and 2 etc as most Olympics you see half empty stadiums for say the early rounds of the 100 metres but often at the same time you could have the heptathlon going on which doesn't have heats and I suppose the athletes could feel somewhat deflated or it's less of a spectacle when you see top athletes performing in front of a few thousand people in a stadium that holds maybe 80,000? I'm just going to apply for the later stages of the track and fields, maybe third or fourth last day as all the heats are over then pretty much and all the events are just finals. Thing is, the chnaces of geting one of those tickets is slim because you can guarantee there will be the corporate tickets of which there will be thousands and the all the freebies that get handed out to famous people, family and friends of the athletes, left fighting for scraps really. I love the Olympics but not really interested in seeing Sailing, or rowing, or shooting or archery or badminton or gymnastics or Horse Jumping or table tennis. I'd maybe go and watch the swimming, never seen swimming live, not sure how good that would be. I'd just like to be in the Olympic stadium for one day to see some athletics, that's it.

 NoEnzLefttoSplit wrote: 
Use the Queen's MasterCard.

Or Cookinlover's. I have the number.

 geordiezimmerman wrote: 

Isn't this illegal?  Against the law of contract or something?

I mean imagine only one person dared to buy a ticket under this scheme, then that one person would be charged the full bill for the olympic games...

 MrsHobieJoe wrote: 
I received the email yesterday but sadly, like most major sporting events in the UK pretty much only the rich can attend. This paragraph being the one that stood out the most.

Once tickets have been allocated and payment taken we will tell you whether or not your application has been successful, the amount you have been charged and for which of your chosen sessions you have been allocated tickets. If you are successful in all your session applications, you are committed to buying all the tickets.

To have a better chance of receiving tickets you have to apply for loads but the poor can't take the risk of applying for loads because they take all the money from you for all tickets applied for before they inform you where as the rich can just apply for as many as they like safe in the knowledge that money is not a problem. I don't see why they can't let you know before hand that you have been picked for tickets and would you like to buy them?

For anyone who wants to attend you can register an interest in tickets now:

http://www.tickets.london2012.com/

The tickets actually go on sale next spring.