westvirginia Posted July 12, 2010 Share Posted July 12, 2010 We come not to praise or bury LeBron James, but only to note that by moving to Miami he's going to save a bundle on taxes. We'll take the King of ESPN's word that he's jumping to the Miami Heat from the Cleveland Cavaliers mainly for basketball reasons, but it is also true that Florida has no income tax. The rate in Akron, Ohio is a little over 7%. Quote Link to comment Share on other sites More sharing options...
Square Posted July 12, 2010 Share Posted July 12, 2010 I was expecting to see pics of chicks on South Beach. But yea, it would rock to not have state tax. Quote Link to comment Share on other sites More sharing options...
wildcat2334 Posted July 12, 2010 Share Posted July 12, 2010 having no state income tax in FLA is waaaay down on the list of reasons why he chose MIA - come on my man. The list is endless and that moran Gilbert showed his true colors, I don't blame LBJ one bit. LBJ grew up in Akron and gave the Cavs 7 years - he has seen enough of that chithole state Wade dumped his babies mama and is banging Gabrielle Union - Lebron ain't no dummy Quote Link to comment Share on other sites More sharing options...
westvirginia Posted July 12, 2010 Author Share Posted July 12, 2010 having no state income tax in FLA is waaaay down on the list of reasons why he chose MIA - come on my man. The list is endless and that moran Gilbert showed his true colors, I don't blame LBJ one bit. LBJ grew up in Akron and gave the Cavs 7 years - he has seen enough of that chithole state Wade dumped his babies mama and is banging Gabrielle Union - Lebron ain't no dummy Actually it was more a at some folk here. And being from WV, I agree that Ohio is a chithole. Except for the Reds... Quote Link to comment Share on other sites More sharing options...
rattsass Posted July 12, 2010 Share Posted July 12, 2010 having no state income tax in FLA is waaaay down on the list of reasons why he chose MIA - come on my man. The list is endless and that moran Gilbert showed his true colors, I don't blame LBJ one bit. LBJ grew up in Akron and gave the Cavs 7 years - he has seen enough of that chithole state Wade dumped his babies mama and is banging Gabrielle Union - Lebron ain't no dummy I wouldn't say waaaaaay down the list. What exacly is 7% of 16 million? And what is 7% of what he makes in endorsements. It may not be THE reason, but it is a damn good reason when you are talking about that kind of coin. I think the dude just wanted to win. In April, and in June. Quote Link to comment Share on other sites More sharing options...
Jimmy Neutron Posted July 13, 2010 Share Posted July 13, 2010 I was expecting to see pics of chicks on South Beach. But yea, it would rock to not have state tax. I have been to South Beach several times over spring break - I'm sure that factored into Labron's decision. Quote Link to comment Share on other sites More sharing options...
WaterMan Posted July 13, 2010 Share Posted July 13, 2010 I wouldn't say waaaaaay down the list. What exacly is 7% of 16 million? And what is 7% of what he makes in endorsements. It may not be THE reason, but it is a damn good reason when you are talking about that kind of coin. I think the dude just wanted to win. In April, and in June. It may be coin to us, but he wouldn't blink losing 7%. Quote Link to comment Share on other sites More sharing options...
Caveman_Nick Posted July 13, 2010 Share Posted July 13, 2010 It may be coin to us, but he wouldn't blink losing 7%. Man, I know you are still on the young side, but you have to snap out of this. You always blink. 7% is a big number. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted July 13, 2010 Share Posted July 13, 2010 Man, I know you are still on the young side, but you have to snap out of this. You always blink. 7% is a big number. No state income tax is definitely nice but it generally equals higher property taxes, to name but one. States don't run themselves. The ones without income tax are usually either the beneficiaries of millions of out-of-state visitors on vacation (Florida, Nevada) or chitholes where no-one lives (Wyoming, South Dakota, Alaska). Texas and Washington are both exceptions. Quote Link to comment Share on other sites More sharing options...
Caveman_Nick Posted July 13, 2010 Share Posted July 13, 2010 No state income tax is definitely nice but it generally equals higher property taxes, to name but one. States don't run themselves. The ones without income tax are usually either the beneficiaries of millions of out-of-state visitors on vacation (Florida, Nevada) or chitholes where no-one lives (Wyoming, South Dakota, Alaska). Texas and Washington are both exceptions. There's a segway if'n I ever saw one. I can't see what this has to do with my response to Waterman. Quote Link to comment Share on other sites More sharing options...
cdrudge Posted July 13, 2010 Share Posted July 13, 2010 Don't players have to file income taxes (if applicable) in each state where they play and receive a "game check"? Quote Link to comment Share on other sites More sharing options...
wildcat2334 Posted July 13, 2010 Share Posted July 13, 2010 Don't players have to file income taxes (if applicable) in each state where they play and receive a "game check"? yeah I am pretty sure players personal taxes are a nightmare and they have to file with each state that they are playing in that has a state income tax sorry this FLA non state tax is a non-issue for LBJ yall are crazy. I mean any state income tax he gains, just like URSA posted, FLA will get you other places - higher prop taxes, higher sales tax - throw in the added COL and the hugh increase in real estate value in MIA. LBJ isn't goin to MIA bc of no state income tax on a side note - Udonis Haslem took $14 million LESS than other offers to re-sign with the Heat - kinda cool in this day and age Quote Link to comment Share on other sites More sharing options...
Gonkis Posted July 13, 2010 Share Posted July 13, 2010 We all knew LeBron was pretty high on himself. Now we know that Gilbert is a maniac. For as much as some people didn't like Steinbrenner, he never cultured an envrionment where superstars didn't want to join the Yankees. Gilbert just killed the franchise. For Cavs fans, it's more important to know why other players would want to play here than know why LeBron left. Can you see a 19 year old kid coming out of college and getting picked by Gilbert and not thinking twice about it? Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted July 13, 2010 Share Posted July 13, 2010 (edited) yeah I am pretty sure players personal taxes are a nightmare and they have to file with each state that they are playing in that has a state income tax sorry this FLA non state tax is a non-issue for LBJ yall are crazy. I mean any state income tax he gains, just like URSA posted, FLA will get you other places - higher prop taxes, higher sales tax - throw in the added COL and the hugh increase in real estate value in MIA. LBJ isn't goin to MIA bc of no state income tax on a side note - Udonis Haslem took $14 million LESS than other offers to re-sign with the Heat - kinda cool in this day and age Actually the Cost of Living in FLA isn't that high (ranks 35th in COL nationwide) when compared to the NE or West Coast. Also, Florida does not tax food items. The highest sales tax rate in FLA is 7.00%, which is quite a bit lower than sales taxes in many areas. You'd also be amazed at the "reasonable" level at which property taxes are levied. The other great thing about FL, is that if you file for bankruptcy, they can't touch your primary residence in the bankruptcy proceeding. Edited July 13, 2010 by SEC=UGA Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted July 13, 2010 Share Posted July 13, 2010 I'nm sure it wasn't "the reason", but it is a factor that pretty much nullifies the extra money cleveland was able to offer him as his former team. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted July 13, 2010 Share Posted July 13, 2010 There's a segway if'n I ever saw one. I can't see what this has to do with my response to Waterman. It has to do with the 7%. While there is no income tax in FL, there are other monetary hits. Still, the point I was making about state income taxes and other taxes in general is that they generally fit with the situation of the particular state. Florida is only able to have zero state income tax because of the tens of millions of vacationers. It isn't run any better or worse than any other state. Quote Link to comment Share on other sites More sharing options...
Caveman_Nick Posted July 13, 2010 Share Posted July 13, 2010 It has to do with the 7%. While there is no income tax in FL, there are other monetary hits. Still, the point I was making about state income taxes and other taxes in general is that they generally fit with the situation of the particular state. Florida is only able to have zero state income tax because of the tens of millions of vacationers. It isn't run any better or worse than any other state. This has nothing to do with my response to Waterman. He is essentially saying that Lebron won't notice 7% because he has enough money to not notice. That simply shows that he has no idea what it is to have any money. You always notice when it's being taken from you. When it's being taken from you by the millions, it's easier to notice. Lebron has paid more in state income tax to Ohio than most of us will earn in a lifetime. You notice when that kind of money is leaving your pocket. Someday Waterman will have some income,pay some tax on it and realize that. To address your point, Real Estate taxes can be controlled based on what property you choose to buy. They only way to pay fewer dollars to income tax is to earn less or move. Quote Link to comment Share on other sites More sharing options...
bushwacked Posted July 13, 2010 Share Posted July 13, 2010 I'nm sure it wasn't "the reason", but it is a factor Really? I sincerely wonder if Lebron even knew that Florida didn't have a state income tax. Quote Link to comment Share on other sites More sharing options...
westvirginia Posted July 13, 2010 Author Share Posted July 13, 2010 This has nothing to do with my response to Waterman. He is essentially saying that Lebron won't notice 7% because he has enough money to not notice. That simply shows that he has no idea what it is to have any money. You always notice when it's being taken from you. When it's being taken from you by the millions, it's easier to notice. Lebron has paid more in state income tax to Ohio than most of us will earn in a lifetime. You notice when that kind of money is leaving your pocket. Someday Waterman will have some income,pay some tax on it and realize that. To address your point, Real Estate taxes can be controlled based on what property you choose to buy. They only way to pay fewer dollars to income tax is to earn less or move. Waterman will never have any serious money. He doesn't think he deserves it and that shows in his envy. Rather than be honest about it and admit that if he was willing to put in the work to be successful he could be, he'd rather blame luck and some evil nebulous conspiracy for keeping him down. Quote Link to comment Share on other sites More sharing options...
Gonkis Posted July 13, 2010 Share Posted July 13, 2010 I imagine this will dominate the air waves still on Friday (I hope not, I am sick of it) when Rizzo (WKNR Cleveland radio personality) hosts the Jim Rome Show. Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted July 13, 2010 Share Posted July 13, 2010 Really? I sincerely wonder if Lebron even knew that Florida didn't have a state income tax. I would think that he would be aware of such things. If he didn't his agent most certainly would and bring this to his attention. If his agent didn't, I would think it would be a dereliction of duty. Also, with the lower Cost of Living in Miami as compared to Chicago or NYC, he is absolutely making much more money than he would have at either of those destinations. Quote Link to comment Share on other sites More sharing options...
TimC Posted July 13, 2010 Share Posted July 13, 2010 7% to Lebron is like $2 million over the life of that contract, isn't it? I'm sure he didn't mind giving that up one bit. Probably just a coincidence why so many rich people move to Florida more than just the weather. You hippies are funny. You probably think people are moving out of New York because of the smell mainly. Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted July 13, 2010 Share Posted July 13, 2010 7% to Lebron is like $2 million over the life of that contract, isn't it? I'm sure he didn't mind giving that up one bit. Probably just a coincidence why so many rich people move to Florida more than just the weather. You hippies are funny. You probably think people are moving out of New York because of the smell mainly. I think the K is for 102 mil, so, more like 7 mil over the contract + 7% off of all of the endorsement money. Quote Link to comment Share on other sites More sharing options...
TimC Posted July 13, 2010 Share Posted July 13, 2010 I think the K is for 102 mil, so, more like 7 mil over the contract + 7% off of all of the endorsement money. Is that all? Meh, barely worth relying on the other 2 superstars to help you win a championship because you can't win one on yer own it. Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted July 13, 2010 Share Posted July 13, 2010 Is that all? Meh, barely worth relying on the other 2 superstars to help you win a championship because you can't win one on yer own it. Sooo... let's say he makes, over the life of the contract, another 300 mil in endorsements (I may be very low on that assumption), we are then talking about him potentially saving $28 million for living in FL. Does it make a difference at that number? Quote Link to comment Share on other sites More sharing options...
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