1981 Gymnastics Comedy

US gymnast Paul Hunt performs on uneven bars at the 1981 Nadia Tour at Madison Square Garden, NYC.

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Baptist megachurch pastor fired over ‘a sin’ with teenage girl

No charges are expected to be filed against Pastor Jack Schaap for his involvement with an underage girl, according to a First Baptist Church of Hammond official, although the church remains resolute in being cooperative with authorities.

A release put out by Lake County Sheriff John Buncich’s office on Wednesday said his office, along with the FBI’s Merrillville office, are continuing the investigation into Schaap for his alleged misconduct with the church member. Church spokesman Eddie Wilson said the girl is 17. The age of consent in Indiana is 16.

“There has been a lot of conjecture regarding the girl in the press,” Wilson said, adding that the girl and her family are church members. He said she isn’t a student at the Schererville-based Hyles-Anderson College, where Schaap was the chancellor until he was relieved of his duties. “We don’t expect charges to be filed against him (with regard to statutory rape).”

A shaken, soft-spoken Deacon Terry Duff, who chairs the church’s Board of Deacons, vowed during a news conference held at the church’s administration building Wednesday that the church is cooperating with all authorities and refuses to cover up any wrongdoing.

“We’re not defending wrong; we’re defending right,” Duff said. “We’re committed to finding the whole truth no matter what the consequences to First Baptist Church.”

Post-Tribune

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The Tax Consequence of Bringing Home an Olympic Medal

Even an Olympic victory comes with a price. In this case, it’s the taxes America’s victorious athletes can expect to pay when they return from the games.

Medals and prize money are both subject to income tax, according to the Americans for Tax Reform.

“It’s no different from winning Wheel of Fortune or the lottery,” Alex Knight, a tax partner at Atlanta’s Habif, Arogeti & Wynne, told Reuters .

A gold medal, which is worth $650, according to CNN, could cost athletes about $236 in taxes. While a bronze metal, which is worth $5, could only cost an athlete $2 in taxes

The real bite, however, will be taxes taken out of Olympians’ cash bonuses.

The U.S. Olympic Organizing Committee will award London champions $25,000 for a gold medal , $15,000 for silver and $10,000 for bringing home a bronze, Reuters reports.

At a 35 percent income tax rate, bronze medalists will owe the IRS a total of $3,500, silver medalists will owe $5,250 and top finishers will be liable for $8,750 , according to Americans for Tax Reform.

Full Article

And here’s an update . . .

Senator Marco Rubio (R- Fla.) introduced a bill to Congress on Wednesday that would exempt Olympic winners from taxes on prizes received at the London games.

This is interesting as I never knew the U.S. Olympic Committee awarded large cash prizes for medal winners.  I know a lot of other countries are a lot more involved in this sort of thing, but I think it takes away from the spirit of the games.  I thought for the most part, other than USA Mens Basketball, Olympians were amature athletes.  This prize money makes it seems like they are getting paid to play, which makes me think they are competing as professionals. Some of those folks that compete and win gold in both individual and team competition will come away with some serious money, like those gymnasts who are just in their teens.

I wonder if Rubio introduced that bill to get in the spotlight as a Tea Party member that want’s to make a stand that there are too many taxes or thinks it’s unpatriotic to collect taxes on Olympic winners who win prize money, or a bit of both.

So if my math is correct, if an American won gold . . .

$25,000 from the U.S. Olympic Committee – $8,750 paid in taxes for prize money – $236 for the tax of the worth of the gold medal = $16,014 take home money.

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Bag of Randomness

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