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Title: Sony Michel retires Post by: dolphins4life on July 30, 2023, 11:44:56 pm Can you imagine being able to retire at 28 with millions in savings and a fat pension?
What a dream Title: Re: Sony Michel retires Post by: EDGECRUSHER on July 31, 2023, 11:11:48 am $11.5 Million career earnings. At least 50% of that goes to the IRS and various states as athletes get taxed in the states they play in, including road games. Agents get their cut and he had to have bought a house, furnished it and had some fun too with cars and helping out family.
I would be surprised if he has more than $1 Million in the bank. He certainly isn't on welfare but he won't be retiring from working, just the NFL. Title: Re: Sony Michel retires Post by: MyGodWearsAHoodie on July 31, 2023, 01:55:27 pm At least 50% of that goes to the IRS How is that possible? The marginal rate for the top bracket is 37%. Title: Re: Sony Michel retires Post by: Spider-Dan on July 31, 2023, 04:29:16 pm It's explained by the next three words of the sentence, which you omitted.
Title: Re: Sony Michel retires Post by: MyGodWearsAHoodie on July 31, 2023, 09:08:44 pm It's explained by the next three words of the sentence, which you omitted. still less than 50%. Title: Re: Sony Michel retires Post by: EDGECRUSHER on August 01, 2023, 08:58:00 am still less than 50%. If it's less than 50% between federal, state and local, it ain't by a lot. Playing in the AFC East means two games without state tax but 12 games in states with high state taxes like Mass and New York (Buffalo and Jets). Playing road games against the Cowboys or Chargers is a big difference too. |