Today's word: JOCK TAXTheme for this fortnight: TAXES
What began as bitter blood has
turned into a lucrative source of state funding, as taxing “jocks,” performers,
and other entertainers, can generate serious revenue.
California first imposed the Jock
Tax back in 1991, after the Chicago Bulls beat the LA Lakers in the finals. The
next time “His Airness” played in Los Angeles, the money he made on those games
was officially subjected to the California State Income Tax. Since that time,
half of the states in the union have adopted a Jock Tax, taking a cut from
high-paid heroes, and putting the added resources to work for local
communities.
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