Still don’t think there’s a Laffer Curve? Here it is, in action.
The legendary Filipino boxer reportedly wants his next bout — a fifth fight against Juan Manuel Marquez — to be held far away from Sin City and the United States’ 39.6 top federal tax rate, with the offshore Chinese gambling resort of Macau emerging as the “favorite,” Yahoo! Sports reports.
Michael Koncz, Pacquiao’s chief adviser, said Monday that the nearly 40 percent tax rate he would face on most of the purse if he were to fight again in the United States makes a bout this fall a “no go.”
“Manny can go back to Las Vegas and make $25 million, but how much of it will he end up with – $15 million?” Arum said. “If he goes to Macau, perhaps his purse will only be $20 million, but he will get to keep it all, so he will be better off.”
Hmm, let’s get our calculators out! Let’s see, 40% of zero = …… (ciphering, figuring, calculating…… ) Well, heck, I give up, not enough coffee, yet.