Holy crap!

[mspart]

I'm beginning to think that.

mspart

[El Luchador]

8 hours ago, Wrestleknownothing said:

You need to look up the word Marxism

I think you are correct,  many miss label Fascism as Marxism.  Fascism is complete government control, of private industry and property.  Both are authoritarian. 

[Perry]

20 hours ago, BigRedFan said:

What the ***duck duck goose** are you doing?  Get a clue, clown.  First of all, that's a faked photo.  Second, even if it was real, it is totally inappropriate to post.

 

https://www.reuters.com/article/factcheck-aoc-editedphotoconference/fact-check-photo-of-alexandria-ocasio-cortez-at-conference-is-altered-idUSL1N2Q31G3

I'm well aware it's fake lol but it seemed right in line with the rest of the shit posting in this thread tbh

[98lberEating2Lunches]

On 5/4/2023 at 12:14 PM, Tigerfan said:

I just learned that $ donated to the NIL collective is tax deductible. How can that be? Seems like a further perversion of the intent of this circus. Did you all know this?

Here's how it can be:

It depends on the collective and the nature of the work being done by the student athlete through the collective.

In the case of Penn States "Success with Honor" one of its giving options is charitable.  This option aims at developing student athlete character through their charitable works.  In other words, funds and the athletes time are used for charitable purposes.  This and only this contribution type may be itemized as a charitable deduction.

Deductng any charitable giving on income taxes depends on itemizing.  For itemizing to make sense for individual tax payers, the total itemized deductions would need to exceed the standard deduction.  The vast majority of individual tax payers do not itemize.  Fewer itemized since the Jobs and Tax Act passed.

So it's really not a big deal. It's definitely not a "Holy Crap" level news.

[D3 for LU]

HOLEY CRAP, that it's not... holy crap!

(woah!)

D3

[Tigerfan]

4 hours ago, 98lberEating2Lunches said:

Here's how it can be:

It depends on the collective and the nature of the work being done by the student athlete through the collective.

In the case of Penn States "Success with Honor" one of its giving options is charitable.  This option aims at developing student athlete character through their charitable works.  In other words, funds and the athletes time are used for charitable purposes.  This and only this contribution type may be itemized as a charitable deduction.

Deductng any charitable giving on income taxes depends on itemizing.  For itemizing to make sense for individual tax payers, the total itemized deductions would need to exceed the standard deduction.  The vast majority of individual tax payers do not itemize.  Fewer itemized since the Jobs and Tax Act passed.

So it's really not a big deal. It's definitely not a "Holy Crap" level news.

I know how itemizing charitable donations works, but I still think paying a student athlete 50k to show up at a charity fundraiser is a perversion of what charitable giving is supposed to be. Others may feel differently. 

[ionel]

1 hour ago, Tigerfan said:

I know how itemizing charitable donations works, but I still think paying a student athlete 50k to show up at a charity fundraiser is a perversion of what charitable giving is supposed to be. Others may feel differently. 

When donating to a charity (or non profit) one should probably always ask what percent of the donation actually goes to the charity cause.  

[Southend]

18 minutes ago, ionel said:

When donating to a charity (or non profit) one should probably always ask what percent of the donation actually goes to the charity cause.  

And the percentage is not all the same. Although nonprofit ,the company still makes money. Big money. Hospitals, NFL teams, it can be hundreds of millions in revenue. 

[ionel]

9 minutes ago, Southend said:

And the percentage is not all the same. Although nonprofit ,the company still makes money. Big money. Hospitals, NFL teams, it can be hundreds of millions in revenue. 

Yeah on non profits its gonna depend on what kind of non profit.  But there are many non profits out there where it looks like the purpose is to generate a huge salary for the folks running the non profit. 

[Wrestleknownothing]

1 hour ago, Tigerfan said:

I know how itemizing charitable donations works, but I still think paying a student athlete 50k to show up at a charity fundraiser is a perversion of what charitable giving is supposed to be. Others may feel differently. 

Are you aware of any NIL arrangements where the collective is both set up as a charity and a student athlete is paid $50,000 to show up at a charity event?

[AgaveMaria]

Alexandria Ocasio-Cortez, the AOC mentioned is right to try and stop this practice. US elected legislators are basically exempt from Insider Trading laws. What would put you and I in prison - they can do without fear of prosecution. They do it and get rich from it - even calling and telling friends of upcoming legislation and votes. That way they start feathering the nest for after they get out of office.

Add in they get retirement. NO elected legislator should ever get retirement - with the possible exception former US Presidents - and then only if they can demonstrate actual need for the money.

Senators pay up to 10 Million Dollars to get elected to a job that pays $174,000 a year. Added benefits make it more and lobbyist perks then and later add to the haul. But, pay 10 million dollars to get a job that pays just over 1 Million over 6 years - the numbers don't pan out.

Limit stock involement and get rid of retirement for these folks. If they want paid retirement they can get real jobs.

As far as AOC, I don't think he will repeat as champ next season. And NIL, gaming the system openly is turning many away from College Sports. This even as many of athletes deserve to get paid/stipends for what they bring to the Colleges & Universities. (Well, maybe not Iowa...)

[MPhillips]

2 hours ago, AgaveMaria said:

Alexandria Ocasio-Cortez, the AOC mentioned is right to try and stop this practice. US elected legislators are basically exempt from Insider Trading laws. What would put you and I in prison - they can do without fear of prosecution. They do it and get rich from it - even calling and telling friends of upcoming legislation and votes. That way they start feathering the nest for after they get out of office.

Add in they get retirement. NO elected legislator should ever get retirement - with the possible exception former US Presidents - and then only if they can demonstrate actual need for the money.

Senators pay up to 10 Million Dollars to get elected to a job that pays $174,000 a year. Added benefits make it more and lobbyist perks then and later add to the haul. But, pay 10 million dollars to get a job that pays just over 1 Million over 6 years - the numbers don't pan out.

Limit stock involement and get rid of retirement for these folks. If they want paid retirement they can get real jobs.

 

https://intermatforums.com/forum/11-non-wrestling-topics/

[98lberEating2Lunches]

On 5/4/2023 at 12:14 PM, Tigerfan said:

I just learned that $ donated to the NIL collective is tax deductible.

See your first sentence seemed to emphasize tax deductibility, so excuse me for pointing out that's largely meaningless to most taxpayers.

5 hours ago, Tigerfan said:

I know how itemizing charitable donations works, but I still think paying a student athlete 50k to show up at a charity fundraiser is a perversion of what charitable giving is supposed to be.

I would agree that as donating time is normally free, it would seem excessive to pay a student athlete $50k for an appearance at charity event.  In other words, I would be hard pressed to justify that market value.

I can see transportation costs and per diem being paid for, but not much, if anything, over that.  Well maybe tools if there building houses for something like Habitat for Humanity.

As "Success with Honor" describes it, the charity option was created to create this type of giving experience opportunity for a student athlete who might not otherwise be able to manage it.  "Success with Honor" helps make and maintain connections with interested charitable organizations.

Certain "Success with Honor" donors believe this type of opportunity to be important for well-rounded development, and so they give to it over the other options, which perhaps you see as less perverse, that remain available.

Edited May 9, 2023 by 98lberEating2Lunches

[1032004]

10 hours ago, 98lberEating2Lunches said:

See your first sentence seemed to emphasize tax deductibility, so excuse me for pointing out that's largely meaningless to most taxpayers.

“Most taxpayers,” yes.  But isn’t it mostly the rich that are itemizing these days, and thus would also be the people more likely to be making large donations to NIL collectives?

[98lberEating2Lunches]

5 hours ago, 1032004 said:

“Most taxpayers,” yes.  But isn’t it mostly the rich that are itemizing these days, and thus would also be the people more likely to be making large donations to NIL collectives?

Ummm... and rich people gaming the tax system would be a "Holy Crap" revelation exactly how?

Truly rich people live off loans and have little income, so they've no need for charitable deductions to itemize.

If they are interested in NIL donations to acquire the greatest talent, I doubt they would prefer these athletes be required to make charitable appearances over other more direct and lucrative methods to provide NIL sponsorship $.

[ionel]

19 hours ago, Wrestleknownothing said:

Are you aware of any NIL arrangements where the collective is both set up as a charity and a student athlete is paid $50,000 to show up at a charity event?

If only we knew someone who could put together data tables and some nice graphs on the subject.  You'd think this would be public data but who knows.  Different sport (BB) but I know a car dealer who reported (personal conversation) a booster provided a 4 year leased Audio for a student athlete, said athlete wrecked it 3 times, they fixed it 3 times.  But my source said the most common NIL is to just show up for a booster child's birthday party.  Now who is to question if such would be worth $100k to $500k.  Think of the 5 year old if lives to be 105 and the value of those 100 years of five year old birthday party memories.  Clearly these are not "charity" examples but they seem pretty charitable.  But of course instead of a child's birthday party could said athlete show up for a charity fund raiser event and garnish a similar $100k payment?  It's easy to speculate how Griffith would have value to CK and all but what about R. Woods and N. Suriano.  For the hundreds of k they were paid where was the image value, did any see commercials or ads?  Is it really possible that an athlete from non-revenue sport can have more value than the coach's salary or the operating budget for the sport.  And sure since non-revenue maybe the coaches have no value and shouldn't be paid.

Don't say no know, show us the data tables. 

[ionel]

.

Edited May 9, 2023 by ionel

[1032004]

46 minutes ago, 98lberEating2Lunches said:

Ummm... and rich people gaming the tax system would be a "Holy Crap" revelation exactly how?

Truly rich people live off loans and have little income, so they've no need for charitable deductions to itemize.

If they are interested in NIL donations to acquire the greatest talent, I doubt they would prefer these athletes be required to make charitable appearances over other more direct and lucrative methods to provide NIL sponsorship $.

Yeah I'd agree.   I don't think NIL collective donations apparently being tax-deductible is that big of a deal.   

[1032004]

38 minutes ago, ionel said:

If only we knew someone who could put together data tables and some nice graphs on the subject.  You'd think this would be public data but who knows.  Different sport (BB) but I know a car dealer who reported (personal conversation) a booster provided a 4 year leased Audio for a student athlete, said athlete wrecked it 3 times, they fixed it 3 times.  But my source said the most common NIL is to just show up for a booster child's birthday party.  Now who is to question if such would be worth $100k to $500k.  Think of the 5 year old if lives to be 105 and the value of those 100 years of five year old birthday party memories.  Clearly these are not "charity" examples but they seem pretty charitable.  But of course instead of a child's birthday party could said athlete show up for a charity fund raiser event and garnish a similar $100k payment?  It's easy to speculate how Griffith would have value to CK and all but what about R. Woods and N. Suriano.  For the hundreds of k they were paid where was the image value, did any see commercials or ads?  Is it really possible that an athlete from non-revenue sport can have more value than the coach's salary or the operating budget for the sport.  And sure since non-revenue maybe the coaches have no value and shouldn't be paid.

Don't say no know, show us the data tables. 

So is the assumption that these boosters were already spending similar amounts on student-athletes before NIL?  Or is less now going directly to the school or RTC?   

[Wrestleknownothing]

42 minutes ago, ionel said:

If only we knew someone who could put together data tables and some nice graphs on the subject.  You'd think this would be public data but who knows.  Different sport (BB) but I know a car dealer who reported (personal conversation) a booster provided a 4 year leased Audio for a student athlete, said athlete wrecked it 3 times, they fixed it 3 times.  But my source said the most common NIL is to just show up for a booster child's birthday party.  Now who is to question if such would be worth $100k to $500k.  Think of the 5 year old if lives to be 105 and the value of those 100 years of five year old birthday party memories.  Clearly these are not "charity" examples but they seem pretty charitable.  But of course instead of a child's birthday party could said athlete show up for a charity fund raiser event and garnish a similar $100k payment?  It's easy to speculate how Griffith would have value to CK and all but what about R. Woods and N. Suriano.  For the hundreds of k they were paid where was the image value, did any see commercials or ads?  Is it really possible that an athlete from non-revenue sport can have more value than the coach's salary or the operating budget for the sport.  And sure since non-revenue maybe the coaches have no value and shouldn't be paid.

Don't say no know, show us the data tables. 

That is kinda my point. There is no data. There are a bunch of people quoting and re-quoting a bunch of numbers they heard someone made up one time.

Perhaps we should change the thread title to wholly crap.

[ionel]

46 minutes ago, Wrestleknownothing said:

That is kinda my point. There are no data. There are a bunch of people quoting and re-quoting a bunch of numbers they heard someone made up one time.

Perhaps we should change the thread title to wholly crap.

or knowing crap

 

btw ftfy

Edited May 9, 2023 by ionel

[Wrestleknownothing]

33 minutes ago, ionel said:

or knowing crap

 

btw ftfy

"Correcting someone's grammar is the most effective form of birth control" - Demetri Martin