Just imagine it - taxing an American athlete's gold medal! Why, it's almost like taxing Mom, apple pie, home ownership, and monogamy.
Sure, a hard-bitten pragmatist might point out that moms, apple pies, home ownership, and monogamy are frequently if not usually subject to taxes in the United States. But apparently no amount of pragmatism is getting in the way of the drive to pass a tax break for our Olympic medalists.
Last month, the group Americans for Tax Reform pointed out that Olympic medals and their accompanying cash honoraria - $25,000 for gold, $15,000 for silver, $10,000 for bronze - can (like most other forms of income) incur taxes. In the case of a gold medal, the group noted, Uncle Sam could take up to about $9,000.