Originally posted on Bush League Chronicle  |  Last updated 1/21/13
Pro golfer Phil Mickelson has collected over $73 million in career earnings, according to Forbes magazine. This doesn't even include the roughly $40 million he receives in endorsement money per year. Basically, Mickelson is one of the highest paid athletes in the world of sports. However, the recent federal and state tax hikes have the 42-year old promising "drastic changes" in his life, which may include leaving the country and/or California.“It’s been an interesting off-season. And I’m going to have to make some drastic changes. I’m not going to jump the gun and do it right away, but I will be making some drastic changes,” Mickelson said during a press conference following the Humana Challenge golf tournament in La Quinta, Calif.Mickelson's motive for a possible move is based solely on the increased tax burden he now faces. In November, California voters approved to impose a 13.3 percent tax rate for people with incomes of more than $1 million. That is up from 10.3 percent last year."If you add up all of the federal and you look at disability and unemployment and the social security and the state, my tax rate is 62, 63 percent,” Mickelson said Sunday. “So I've got to make some decisions about what I'm going to do."The lefty, who grew up and resides near the San Diego area, is expected to address the issue with more detail next Wednesday at Torrey Pines Golf Course.“I’ll probably be in the media center and I’ll probably be a little more open to it because San Diego is where a lot more things, it’s where I live, it’s where the Padre thing was a possibility, and it’s where my family is,” Mickelson said.Mickelson had been considering buying an interest in the hometown San Diego Padres baseball team this summer, but withdrew his pursuit of becoming a part owner in an announcement, in December. He cited his current financial situation and general political atmosphere as the direct cause.“I've been born and raised here, but at this moment I'm not able to make that kind of long-term commitment to the city and to the team," said Mickelson.The only options for Mickelson at this point seem to be to either move to a state or country with a lower tax rate, or to enter into some form of retirement.Mickelson has won 40 PGA Tour events and four major championships in his career.Via The Daily Caller
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