Interesting throwaway quote by Phil Mickelson recently.
Last year, Mickelson flirted with becoming a part owner of the San Diego Padres, the baseball team that sold for $800 million in August. He was asked Sunday if there was a correlation between the tax increases and what happened to the Padres' deal.
"Absolutely," Mickelson said.
Which is kinda weird because I always thought that rich people got into owning ridiculous businesses partly because of how great those businesses are at being tax shelters and allowing for more ways to move around your money all sneaky-like.
Phil says his tax rate is up around 62% now and that takes a huge hit on discretionary income. So much so that you don't have room for things. Like the kids were probably looking forward to finally getting that Zoo membership, but that's out the f_cking window. And the digital cable package? Nu-uh. Definitely cutting back on premium channels. Gotta stick to just HBO and maybe it's finally time to get rid of the land line. Everybody's on cell phones anyway.
But first thing's first. No Major League Baseball team. At least this way, he'll still be able to buy the family iPads, keep the robot butler and not have to feel bad about driving the Tesla to save gas.