Phil Mickelson is considering shutting down his career next year because of new tax laws, according to those who heard postround interview.—
Scott Michaux (@ScottMichaux) January 20, 2013
Via Scott Michaux,we learn that Mickelson is claiming he has a combined federal and state marginal income tax rate above 60 percent:
Well, it’s been an interesting offseason. 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.
There are going to be some drastic changes for me because I happen to be in that zone that has been targeted both federally and by the state and, you know, it doesn’t work for me right now. So I’m going to have to make some changes.
if you add up, if you add up all the federal and you look at the disability and the unemployment and the Social Security and the state, my tax rate’s 62, 63 percent. So I’ve got to make some decisions on what I’m going to do.
Mickelson is apparently a resident of California. He may be exaggerating, but not by much. Welcome to the Barack Obama/Jerry Brown economy.
Phil Mickelson's possible decision to stall great career due to higher taxes tells a story. Higher taxes=Less Econ Growth.—
Rory Cooper (@rorycooper) January 21, 2013