And for that $500 medal, you need to pay almost $9,000 if you're American...http://www.weeklystandard...-gold-pay-irs_649187.html
For instance: Americans who win bronze will pay a $2 tax on the medal itself. But the bronze comes with a modest prizeâ€”$10,000 as an honorarium for devoting your entire life to being the third best athlete on the planet in your chosen discipline. And the IRS will take $3,500 of that, thank you very much.
There are also prizes that accompany each medal: $25,000 for gold, $15,000 for silver, and $10,000 for bronze.
Silver medalists will owe $5,385. You win a gold? Timothy Geithner will be standing there with his hand out for $8,986.
Nope. This is not make-up-able.
Pure douchebaggery. Thomas Edison would be proud