Renowned Golfer Ponders Retirement Because of High Tax Rate
So the Lefty, better known as Phil Mickelson publicly aired his political grievances in an interview with CBS Sports the other day, noting that federal and state tax policies in California have him strongly weighing whether now might be the time to retire.
The three-time Masters champion said he would have to make some "drastic changes" when more than 60 percent of his future earnings are taken away by the government, due to the passage of California's Proposition 30 and the expiration of the Bush-era tax cuts for top income earners:
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’ve got to make some decisions on what I’m going to do.
Mickelson didn't rule out moving to another state, or even another country for that matter. An eerily similar situation to what is happening in the openly-socialist republic of France at the moment, where the wealthiest among them are fleeing from a 75 percent tax rate. Even former president Nicolas Sarkozy is reportedly moving to London.
Perhaps under pressure from liberals who covet his money, Mickelson has since apologized for his comments that may have "upset or insulted" the easily-offended. "Finances and taxes are a personal matter and I should not have made my opinions on them public," he sheepishly added.
Whether apologetic or defiant, if Mickelson moves to a lower-tax state, Golden State voters only have themselves to blame for creating a political climate that punishes success.