Talk about your futile and stupid gestures…
Richard Burr, one of two former scholarship college athletes in the U.S. Senate, promised to introduce legislation if athletes were able to profit off their name, image and likeness.
Now, with college athletes signing deals with companies big and small, the North Carolina Republican has followed through, introducing the NIL Scholarship Tax Act.
“If a student chooses to monetize their name, image, and likeness based on their connection to their school — in some cases earning them $1 million or more a year — their scholarship should be subject to federal income taxation,” said Burr, who played football at Wake Forest University in the 1970s.
“It’s critical that we help protect the successful collegiate sports model that has provided students with educational and professional opportunities for more than a century.”
Skip past the complete unlikelihood that this bill would ever come close to passing. What exactly would it do to protect the amateurism model? Would a kid turn down a million dollar NIL promotional deal because he’d have to pay tax on, say, a $50,000 scholly? Not bloody likely.
There’s also the problem that students on scholarship who aren’t athletes, but receive outside income, don’t have their scholarship benefits taxed. How could you treat them differently under the law?
The game is kind of given away with this:
Burr’s legislation would only impact athletes who receive more than $20,000 from outside compensation. Those who earn more would be required to include their scholarship as income for federal taxes. Athletes pay taxes on any outside compensation already.
Apparently, a little bit pregnant is okay with Burr.
So he’s gonna get all bothered over college athletes getting paid on their NIL so we should tax their scholarships but he’s ok with church leaders and televangelists making millions, flying in personal jets and living tax free? Wonder what could be the difference between the two?
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Just to be clear, Pastors pay taxes on their income. Only people pay taxes. Corporations pass their tax liability on to their customers.
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If I understand correctly up to 50% of a Minister’s income can be tax free by declaring it as housing stipend.
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What is the opposite of helping your school recruit elite talent in all sports. Not that this would pass. We thank you for your help in recruiting your state.
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Fuckin’ politicians. Correct me if I’m wrong, but aren’t any NIL earnings subject to income tax? Isn’t that enough?
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More is NEVER enough!
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Except when it comes to rich folks and corporations where they refuse to tax them at all.
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You buy a politician, you expect a ROI amirite?
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Bill, “More is NEVER enough” sounds like a James Bond movie title…
At my house, we always love it when the government comes knocking
He tagged me correctly, as married 😕
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Richard Burr is an idiot, and I may be insulting idiots.
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Yes. As an idiot, I take great offense to the comparison.
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I’m so happy Congress has solved all the problems associated with failing infrastructure and skyrocketing healthcare and can finally get cracking on the one major issue that keeps the tax code from being a shining example of bureaucratic competence. Once Senator Burr’s plan of taxing college athletes/employees’ scholarships has become law then Congress can call it a session. Their work is done.
The shithead.
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Yup, that covers it.
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A Dick Burr is a painful condition.
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Doesn’t matter where. A Burr is a Burr!
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And here I was thinking that Republicans hated taxes. Guess you learn something new every day.
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D’oh you beat me to the punch!
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Republicans are the party of Hate. They hate people of color, they hate poor people, they hate non-Christians, they hate women exercising their right to choose, they hate democracy. I’d say Burr’s bill is on brand for the Republican party.
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BWAHAHAHAHAHAHAHAHAHAHAHA!!!!
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Give me a break. You’re a fool.
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Drop the ad hominem attack and show some evidence to prove I’m wrong. You can’t. You are as pathetic as your racist, misogynist, Christofascist overlords.
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Dial it back, please.
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Dial what back? It’s the truth. Republicans attempted an insurrection. Their party is behind restricting the right to vote, “Anglo-Saxon culture”, and banning a woman’s right to choose. Anyone who identifies as a Republican is a racist, misogynist, Christofascist.
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A. Your comment isn’t relevant to the post.
B. Personal insults aren’t the way to go here.
If you don’t think you can accept that because you’d prefer to shit stir, I guess you’re about to find out what that leads to here.
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Wow.
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There you go thinking again. It’s a nasty habit… been trying to quit!!
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It’s bad for the team, Bill.
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Burr legitimately engaged in insider trading.
My kingdom for us to treat white collar crime like an actual crime.
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I haven’t liked this guy since he shot Hamilton…
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I’m not throwing away my….shot
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We’re you in the room where it happened?
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Were
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Senator Burr believes that every person must pay every red cent of tax money possible, apparently. I’m sure that perusing his taxes would be fascinating, then, as I’m sure he has never taken advantage of a tax loophole or tax break. And indeed, I’m further certain that he’s never voted in favor of a corporation, wealthy individual, or church getting a tax break.
Senator Burr is scoring cheap points with North Carolina voters on the backs of athletes who should surely just be grateful for the opportunity to work for free while others get rich off of their efforts. That sort of thing has always been big with the majority of North Carolina residents. He knows that athletes will be taxed on their NIL earnings and he also knows that they most of them aren’t as saavy with tax codes as he and his donors are, so as a people we’re probably getting a bigger share of their earnings than we’re entitled to – or at least, more than we can force them to give us with the current tax code.
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Protect the model that helps with professional opportunities…by punishing behavior that is professional. SMH
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Really? I dont see how you can run one article touting how they are employees, then turn around and say the free education is not taxable
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Really? Who gets taxed on scholarships now?
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Burr isn’t running again, so it makes me wonder what client he is serving with this. He’s looking hard for post-Senate corporate board positions and lobbying cash.
Burr came out of a January 2020 classified Senate briefing and immediately moved all his investments out of things Covid would trash and into things Covid would reward. Swore it was a coincidence.
Richard Burr and Billy Packer are the main reasons I find it hard to root for Wake Forest, no matter how much I love the underdog.
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North Carolina schools really appreciate Burr for this negative recruiting material.
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