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Lefty earned about $60 million in 2012 playing the game of golf. He’s rich, and he plays a game for a living that the rest of us pay handsomely to enjoy. So what would cause a man, who is seemingly living the ultimate version of the American dream, to pack up his unorthodox follow-through and his full C-cups and move away from the state he has called home his entire life, and possibly even retire from the Tour? Taxes — ridiculous state income taxes that, along with federal rates, Phil Mickelson estimates to be “62, 63 percent” of his gross income.
Mickelson said “drastic changes” are ahead for him due to federal and California state tax increases that have pushed his tax rate to what he figures adds up to “62, 63 percent.” The left-hander will talk more about his plans — possibly moving out of California or even retiring altogether — before his hometown Farmers Insurance Open, the San Diego-area event that begins Thursday at Torrey Pines.
“It’s been an interesting off-season,” Mickelson, 42, said Sunday after the final round of the Humana Challenge. “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.”
This is a statement. A power move. Phil was the second highest earning athlete last year. He’s not in danger of ordering off the left side of the menu any time soon. This is simply a “Cali, I love you, but your shit is getting out of control, and it’s making me start to hate you” gesture. Hard to believe those left-coasters are so damn broke.
California voters in November approved Proposition 30, which, in addition to raising the state sales tax, carries a menu of new tax brackets that hit millionaires like Mickelson hard. For income exceeding $1 million, the state rate jumped to 13.3 percent from 10.3 percent. For Mickelson, who earned roughly $60 million in 2012, that would be a tax increase of more than $1.8 million.
[via Fox News]
Image via Golf Week