How Much Money Do Gold Medal Olympians Make?
By now you probably know that the United States pays our Olympians $25,000 for each gold medal they win, but what's surprising is that's at the low end compared to other competing countries.
There's been a lot of talk about the American Olympians' salaries, and the taxes they are required to pay to the IRS. For instance, Michael Phelps owes the IRS about $55,000 dollars for the 6 total medals he won in Rio. Probably won't be too big of a hit to his pocketbook, but that's not the case for most Olympians. Most of these athletes don't have other jobs, have no income, and are supported by their families so they can continue to train. Considering that fact, maybe these bonus numbers in other countries will seem a little more reasonable.
What do you think? Should the United States step up the program and pay our athletes more for all the glory they bring to our country? Let us know what you think.