On the NFL: Tax-exempt Not Much Longer
I’ll be the first to admit, I don’t really watch football. I know, I know, how un-American. But really. I like to play sports more than I like to watch them. It was quite surprising to me to read on Yahoo about the NFL being a non-profit with their approximate $10 Billion in revenue every year. Tax-exemption? For that kind of money? For…football? And players, coaches and executives making millions? What better way to eliminate profit than to offer top executives absolutely enormous bonuses on top of their salaries? Apparently it’s been that way since 1966 as well.
I’m all for sports. Totally. In fact, I am a professional cyclist- a female athlete making a whopping $0/year in salary. Seeming how I have to pay a huge 40% tax on any winnings I make (remember, my $0/year salary), something in this situation with the NFL just seems…unfair. Typically, when I think of a non-profit, I think of a business of sorts acting out of the good of their heart to benefit someone or something else whether it’s for research for a disease, to encourage kids to be healthy, or even for a political party fighting for what they believe is right…not a system for sports executives to get richer (I understand they are subject to payroll tax, but still).
What do you think? Is it fair for organizations like the NFL to be tax-exempt or is that something that needs to be reviewed?