Tuesday, August 14, 2012

When Talent is Taxed

A good lesson for those in positions of power. From the Telegraph:
Usain Bolt refuses to race in UK until tax laws are changed

The sprinter, who won gold medals in the 100m, 200m and 4x100m relay at the Games in London, objects to a law that sees him taxed on global sponsorship and endorsement earnings as well as any appearance fee - levied at the 50pc higher earning rate - when he competes in Britain.

And despite setting a new world record during the Olympics, the 25 year-old, who earns an estimated $20m (£12.7m) a year, says his UK-based fans won't see him compete until the tax laws are loosened.

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