Folks I'm not an NBA fan, and haven't been -- ever since the game is played by seven foot Goliaths on a basketball court designed for 5'10" human beings. I lost what little interest I had left when it became a contact sport - instead of one of finesse and skills.
But you can't be alive in this country this week without following the LeBron James dance (dalliance?) . Big surprise - he chose to earn his keep in Miami Florida... This has opened a whole new school of finance called "LeBronomics".
As has been pointed out, if James had re-signed with the Cavaliers, the state income tax on his purported new contract of $96 million would have been $5.69 Million === Dollars that is!
If he had signed with the Knicks, the New York grab fest of state & local income taxes would have been $12.54 million dollars. In addition to the Federal Income tax bite, understand!
In Florida, his state income tax liability is zilch, nada, none, ZERO!
I'd like to think that some gob'mint officials in Ohio, New Jersey, New York, Taxachusetts, and even California would learn something from this and figure out why they are losing wealthy investors and their companies every year to these other states --- but I don't guess they will!
Lord Luv a Duck, $12 million might not sound like much out of a $96 million dollar paycheck, but I know folks who could struggle by just on that $2,400,000 per year extra he'd be paying in state taxes..................... Raise your hands if you could!
By the way, I still agree with the little old lady that said about pro-basketball, "Why don't they give both teams 100 points and five minutes to play, that's the way all the games end up anyway!"
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