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Phil Mickelson to lose 61% of Scottish winnings to taxes
- Updated: July 23, 2013
Phil Mickelson had a prosperous last two weekends in Scotland. Two weeks ago, he won the Scottish Open. This past weekend, he won the British Open. For winning both tournaments, Mickelson earned £1,445,000, or roughly $2,167,500. According to Forbes magazine, he’ll take home $842,700. Simple subtraction tells you that $1.3 million (61% of his winnings) will go to the British and U.S. governments and to the State of California.
You gotta be kidding me.
Escalating tax rates and other nonsense are why Mickelson is getting jobbed here. The bottom line of it is: 45% of Mickelson’s winnings will go to Great Britain, 13% going to California with the remaining 3% going to the United States government. 61% to the government. 39% percent to Mickelson — some of which must be used to pay his caddie, hotel and expenses, his agent, his hair dresser (did you see that mop?).
Again, you gotta be kidding me.
Yes, Mickelson is wealthy enough to take the blow and keep standing. Yes, $842,700 is a TON of money to make playing golf. But 45% of his winnings are staying in Great Britain – probably to pay for the royal baby.
For the last time, you gotta be kidding me.