LeBron James announced this evening that he's going to be a member of the Miami Heat and will play along side Chris Bosh and Dwayne Wade.
And who can blame him for making the move when Florida has no state income tax and Barack Obama's tsumani of tax increases are beginning January 1, 2011. I'm sure there are a number of reasons why he's going to Miami other than taxes, but that was the first thing that came to my mind when I heard his announcement.
Pat Riley had to make up ground coming down the homestretch, but the Miami Heat president has secured his triple crown.LeBron James is coming to South Florida, to join Dwyane Wade and Chris Bosh on a team that is poised to jump from NBA also-ran to immediate championship contender.
In front of the national glare of ESPN's cameras, James completed Thursday what Wade and Bosh started Wednesday, a three-pronged partnership of All-Stars and Olympic teammates that could rival anything since the league has offered since Magic, Kareem and Worthy with the Lakers, and Bird, McHale and Parish with the Celtics.
Read the rest here.
Update: Evidently, others are asking whether taxes played a part in LeBron James' decision to move to Miami:
While sports reporters have sought agents and teammates for the inside scoop on where NBA superstar free agent LeBron James will sign, there's another person who may know The King's next move: his accountant.In a July 1 blog post, the New York Post warned that "dysfunctional lawmakers in Albany" could cost the state a chance to bring the coveted athlete to New York.
"If LeBron James goes to the Miami Heat instead of the [New York] Knicks, blame our dysfunctional lawmakers in Albany, who have saddled top-earning New Yorkers with the highest state and city income taxes in the nation, soon to be 12.85 percent on top of the IRS bite," the Post said.
The tax savings for James in Miami over New York City would be staggering, according to the Post's analysis.
"On a five-year contract worth $96 million -- what he'd get from the Knicks or the Heat -- LeBron would pay $12.34 million in New York taxes." Florida has no state income tax.
New Jersey and Ohio, the other reported frontrunners to attract James, also have state income taxes, but they are not as his as in New York. Based on a $96 million contract, James would pay $5.69 million in state taxes if he re-signed with the Cleveland Cavaliers. If he signed with the New Jersey Nets, James would pay $10.32 million in state taxes.
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Comments (10)
The world is on the brink o... (Below threshold)1. Posted by recovered liberal democrat | July 8, 2010 10:08 PM | Score: 6 (6 votes cast)
The world is on the brink of economic collapse. This country has 20% "real" unemployment. Taxes are going up. Prices are going up. And we should give a damn where this over paid ego is going to "play". Get real folks. I wonder if the wrecking ball in the W.H. thinks LeBron has made enough money.
1. Posted by recovered liberal democrat | July 8, 2010 10:08 PM |
Score: 6 (6 votes cast)
Posted on July 8, 2010 22:08
2. Posted by GarandFan | July 8, 2010 10:08 PM | Score: 2 (2 votes cast)
Guess the brother doesn't believe in 'sharing the wealth'. Go figure.
Just like Splash Kennedy made sure that Momma was declared a resident of Florida upon her death. Never mind that Momma hadn't been to Florida in over 20 years.
2. Posted by GarandFan | July 8, 2010 10:08 PM |
Score: 2 (2 votes cast)
Posted on July 8, 2010 22:08
3. Posted by Weegie | July 8, 2010 10:53 PM | Score: 2 (2 votes cast)
There is nothing quite so boring and banal as sports stars and their incredible egos.
3. Posted by Weegie | July 8, 2010 10:53 PM |
Score: 2 (2 votes cast)
Posted on July 8, 2010 22:53
4. Posted by Jay Guevara | July 8, 2010 11:03 PM | Score: 1 (1 votes cast)
Who?
4. Posted by Jay Guevara | July 8, 2010 11:03 PM |
Score: 1 (1 votes cast)
Posted on July 8, 2010 23:03
5. Posted by jim m | July 8, 2010 11:49 PM | Score: 3 (3 votes cast)
enduring all the hype was nearly made worthwhile by the bile laden response of the owner of the Cavaliers. It was so hateful and bitter that it was almost a parody of itself.
I would feel bad for Cleveland except for one thing: IT"S A FREAKING GAME!
5. Posted by jim m | July 8, 2010 11:49 PM |
Score: 3 (3 votes cast)
Posted on July 8, 2010 23:49
6. Posted by jim x | July 9, 2010 1:06 AM | Score: -1 (1 votes cast)
If he signed with the New Jersey nets, the Sun would move backwards in the sky.
Seriously, he'd be better off switching to soccer. At least the US team has a *chance* to win.
6. Posted by jim x | July 9, 2010 1:06 AM |
Score: -1 (1 votes cast)
Posted on July 9, 2010 01:06
7. Posted by Marc | July 9, 2010 5:08 AM | Score: 3 (3 votes cast)
jim m... agreed it's a FREAKIN game.
A game offered where felons abound, and a certain ref gets busted for betting on games and dozens of ref have long since forgotten what travleing fouls are to the point of 5 foot 5 plaers dunk the ball with impunity.
In short, fuck'em all.
7. Posted by Marc | July 9, 2010 5:08 AM |
Score: 3 (3 votes cast)
Posted on July 9, 2010 05:08
8. Posted by 914 | July 9, 2010 11:26 AM | Score: 0 (0 votes cast)
Its a soap opera of sorts but it sure is funner to play than watch.
8. Posted by 914 | July 9, 2010 11:26 AM |
Score: 0 (0 votes cast)
Posted on July 9, 2010 11:26
9. Posted by Fresno Attorney | July 9, 2010 11:45 AM | Score: 0 (0 votes cast)
With Bosch and Wade, Lebron might catch up with Adam Morrison's two rings.
9. Posted by Fresno Attorney | July 9, 2010 11:45 AM |
Score: 0 (0 votes cast)
Posted on July 9, 2010 11:45
10. Posted by Tony | July 10, 2010 2:47 PM | Score: 0 (0 votes cast)
With LeBron hookin up with 2 more allstars, no matter how many championship he wins his legacy will be tarnished. you Cant put him up ther with Russell, MJ, Magic or Kobe because he didnt lead HIS team to a title. This is D-Wade's team he jus piggyback riding. It wasnt like he left the worst team in the league, they had the best record in the NBA the last 3 years he couldnt get them over the hump. He is not this KIng and all the other titles you want to give him. He is a role player now. He is a STAR but not a SUPERSTAR. To sum it up KOBE is like MJ where as LEBRON is DOM.WILKENS case close it should be no more comparisons or questions who is better between kobe or lebron or lebron or MJ. End of discussion
10. Posted by Tony | July 10, 2010 2:47 PM |
Score: 0 (0 votes cast)
Posted on July 10, 2010 14:47