Currently, the IRS values each gold medal at $25,000, each silver medal at $15,000, and each bronze medal at $10,000. Olympians are taxed as if their medals are income. An Olympian may currently pay up to $9,900 in taxes for winning a gold medal (and that is PER MEDAL). It is ridiculous for our Olympians to pay income tax on winning a medal for representing the USA. This needs to end.
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