Tax-exempt Olympic medals? That's silly.

President Obama and conservative GOP senator Marco Rubio (R-FL) agree: Olympic medals and the cash awards that go with them should be tax-exempt. This is the dumbest idea of the summer—and in our overheated campaign season, that’s saying something.

The idea seems to have originated with anti-tax advocate Grover Norquist. Rubio instantly turned Norquist’s press release into a bill. By yesterday, Obama had his spokesman join in the pandering, perhaps hoping that a bit of the game’s nationalistic enthusiasm would rub off of his presidential campaign.

What’s going on here? U.S. athletes who win their competitions get two forms of direct compensation. First, of course, is their medal—gold, silver, or bronze. The commodity value of the hardware is very modest, ranging from perhaps $700 for gold to about $5 for bronze. Second, the U.S. Olympic Committee (not the U.S. government) pays a cash bonus of $25,000 for gold, $15,000 for silver, and $10,000 for bronze. Those winnings are taxable just like any other income. The Rubio bill would make them tax-exempt. If you want to know more, PolitiFact has a nice, more detailed description.

I suspect much of the support for this silly idea is based on the mostly-outdated myth of the self-sacrificing amateur athlete who gives up all in the Olympic spirit. Chariots of Fire and all that.

But the dons who run the Olympics have let professionals compete for more than 40 years. As a result, many of those who would benefit from this tax cut are as far from amateurs as one could imagine.  LeBron James, for instance, made $57 million last year in salary and endorsements. Kobe Bryant made $52 million. Michael Phelps made $10 million. Does BronBron really need an $8,700 tax cut? Seriously?

And even those winners who have not yet cashed in will do so soon enough. As Gabby Douglas is about to learn, a gold medal and a nice smile is worth untold bucks on Madison Ave.

Are there still U.S. athletes who compete for the love of their sport, and make great personal and financial sacrifices to participate in the Olympics? Absolutely.  Many medal-quality athletes now have sponsors who pay most of their expenses but some, especially those in minor sports, must work temporary or part-time jobs to pay the rent while training.

The thing is, those self-sacrificing athletes won’t be helped very much by this new bill. A single person whose only income is her $25,000 cash award and who has no deductions would owe about $1,900 in federal income tax. But, of course, a world-class athlete would likely have many deductible expenses—for coaching, travel, equipment and the like. It is not unreasonable to suspect that in the real world, many of those low-income non-professional athletes already owe little or no tax on their Olympic cash bonus.

Let’s not kid ourselves, the Olympics is big business. Paying athletes performance bonuses for winning medals is no less commercial than anything else the Olympic bosses do. But why this extra cash should be tax-free escapes me. At least hedge fund operators have to pay capital gains taxes on their bonuses.

As my colleague Eric Toder reminds me, there once was a time when this sort of special tax treatment was slipped into revenue bills by high-paid lobbyists in the dark of night. Now, the code has been so corrupted that pols propose this junk without even being asked. For that, I suppose, they deserve the gold medal of stupid tax tricks.

Source: Christian Science Monitor

Americans miss the best of the Games

If you've been mesmerized by the drama, like millions of other viewers watching coverage of the Olympic Games, you have heard the most heroic, inspirational stories of athletes reaching the pinnacle of international competition. Or, at least you think you have.

The truth is American viewers are missing out on the best of the Games.

Coverage of the Olympics in the United States understandably focuses on American athletes. That is as it should be, but not to this degree. By concentrating mainly on Americans' stories, the NBC network is depriving U.S. viewers of some of the most fascinating, moving and exciting aspects of the Olympics.

How much have you heard, for example, about Guor Marial, who marched in the opening ceremony under the banner of "Independent Olympic Athletes"?

Marial became a marathoner after running for his life since he was a young boy in Sudan, growing up in the middle of one of the deadliest wars of the 20th century. He learned to run as he fought to escape from those who killed his siblings and relatives and later kidnapped and enslaved him. Imagine such a story of tragedy and redemption, from slavery to triumph.

His life is a most unbelievable odyssey, culminating at the Olympic Games. His parents live in a village with no electricity or running water. He hasn't spoken to them in years and hopes someone will get word to them to try to get to a television to watch their son.

It's fine to cheer for the Americans, but how about a cheer for Marial? There's one who deserves to become a star -- and one who should have NBC's cameras following him.

His is not the only fascinating story at these Games.

American viewers are interested in the performances of American competitors. There's nothing wrong with that, and there's nothing wrong with NBC producers offering profiles, even fawning ones, of the hometown athletes. But the U.S. public is missing out on what truly makes the Olympics special.

The only time network viewers hear about other athletes, it seems, is when there are suspicions of doping or other violations, which could potentially help Americans. It would seem the rest of the world is there only to serve as the rivals Americans require to conquer the podium.

No question, the United States has brilliant, talented, exciting competitors; everyone wants to see them. But in hundreds of hours of coverage, there should be room in the spotlight, time in the schedule, for the rest of the world.

In NBC's telling, it's all about Michael Phelps and Ryan Lochte, about American gymnasts and swimmers, and soon enough about American track stars and, ultimately, about crowning the few who will grace the Wheaties box, who will sell us Subway sandwiches and Gatorade, Nike sneakers and Snickers chocolate bars.

It's about manufacturing heroes because, in a truth we all know, too much of it is about making money.

Behind the cynicism and the commercialism, however, the Games really do have the power to inspire. There truly is a history of toil and drama behind every athlete. That's because the Olympics are full of heroes, but they're hardly all Americans. (Although a remarkable number of them do make their home in the United States.)

Every athlete has a story, and there are almost 15,000 athletes at London 2012.

In addition to the rivalries at the pool and the very touching images of U.S. athletes' parents suffering and celebrating in the stands, we would all gain from hearing more about, say, Tahmina Kohistani, the lone woman in the Afghan delegation, who endured threats and taunts to keep her out of the Games. Because some people in some countries, including hers, are convinced that sports are no place for women. In Afghanistan, people have been killed for helping girls learn to read and write.

Kohistani deserves a gold medal just for making it to the Games.

Criticism of NBC's U.S.-centric coverage of the Olympics is nothing new. Overly nationalistic narratives and neglect of non-Americans are chronic problems, which attract attention every time the Olympics roll around. From the veteran sports writer Frank Deford to everyday viewers, many complain. As one blogger says, "Watching the Olympics in the U.S. is no fun because the only thing you can watch is Americans winning."

American viewers, I have no doubt, would cherish the opportunity to learn more about the first women to compete for Saudi Arabia, Wojdan Ali Seraj Abdulrahim Shahrkhani and Sarah Attar, who represent a country where women are not only banned from participating in sports, they're even banned from watching sports events in major stadiums.

The Olympics would have given NBC an unparalleled chance to receive permission for a glimpse into the secretive North Korea. We could have learned about the mysteries of training in the Hermit Kingdom for the two North Korean medal-winning weightlifters, Kim Un Guk and Om Yun Chol.

Learning about how many hundreds of hours Lochte spent at the pool, or how many pairs of shoes he has in his collection is fine. But just think what more we could be discovering.

Does it have to be this way? Is NBC just doing what viewers want? I don't think so. I believe Americans would relish the opportunity to find out about many other fascinating individuals competing at the Games.

During my days at CNN, politics caused the United States and the Soviet Union to boycott each others' Olympics. CNN founder Ted Turner, my former boss, decided to create his own Olympics, staging the Goodwill Games over a span of 16 years. CNN producers and camera crews traveled the world to produce profiles of the men and women who would participate in Ted's most excellent sports adventure. The profiles were unforgettable.

Americans may be missing out on some of the best of the Games. Fortunately, the rest of the world is not. As Afghanistan's Kohistani said, "there are a lot of Afghan girls and women [who are] watching me and they hope that one day they shall be [in my place]. And I am going to open a new way for the women of Afghanistan."

One day, perhaps, Americans, too, will have the opportunity to gain inspiration from athletes like her, whose journey deserves more attention, even if she does not compete for the USA.

Source: Frida Ghitis, CNN

Enough with the Black Hair Obsession; Focus on What Matters: GABBY WON!

I learned of Gabby Douglas’s win on Facebook. But just a few posts down, I also learned about the derogatory comments about her hair. Yes, her hair! What a shame. The first African American female to win Olympic gold in the all-round gymnastics competition gets attacked online for her hairstyle.

Really?

Maybe you have read the negative comments online or maybe you haven’t. Needless to say, some people have nothing better to do than to demean others on social media.

I consider Gabby Douglas to be a role-model for young girls everywhere. Not only is she a gold medalist, but she’s also a young woman of faith. I’m sure I was just one of millions of people who heard her say she meditates on scripture to calm her nerves. If that’s not enough, she’s articulate, poised, and gracious –always giving her teammates props and deflecting the spotlight off of herself. I can’t wait to see her biography in the children’s section of the bookstore one day. Gabby Douglass will be on the cover, and I will purchase it for my daughter.

I know we don’t know her personal life, but the positive image she has portrayed on television for an entire week, should be enough for us to stop obsessing over her hair and to start celebrating her accomplishments. It’s time for us to focus on what really matters.

What matters is that we see what commitment and discipline will get you in life.

What matters is that other black girls can see someone who looks like them on prime time television , namely someone who isn’t cursing, shaking her rear-end, or fighting in the streets.

What matters is that Gabby Douglass broke the color barrier in world class sport.

Those things matter, not hair.

Sadly, people complain about disgraceful reality television shows that perpetuate stereotypes and promote negativity. But, when the true reality of a beautiful and successful young black woman graces our television screens, instead of celebrating her, we judge her.

A part of me hopes that Gabby doesn’t read the comments. But even if she does, I don’t think they would phase her. She’s already proven that in the face of opposition (and competition), she’s secure in her faith and confident in her ability to beat the odds.

Congratulations Gabby. We are proud of you!!!

Source: Black and Married With Kids

Michael Phelps wins 19th medal

Michael Phelps lingered on the blocks, not wanting to make another shocking blunder. The 19th medal was his. All he had to do was avoid a DQ, then set off on what amounted to four victory laps.
Down and back, then down and back again, the roars getting louder with each stroke.

When Phelps touched the wall, he finally had gold at his final Olympics.

And a record for the ages.

Phelps swam into history with a lot of help from his friends, taking down the last major record that wasn't his alone. He took the anchor leg for the United States in a gold medal-winning performance of the 4x200-meter freestyle relay Tuesday night, earning the 19th Olympic medal of his brilliant career, and the 15th gold.

A more appropriate color.

"I've put my mind to doing something that nobody had ever done before," Phelps said. "This has been an amazing ride."

About an hour earlier, Phelps took one of his most frustrating defeats at the pool, blowing it at the finish and settling for silver in his signature event, the 200 butterfly.

That tied the record for career medals held by Soviet gymnast Larisa Latynina, but it was hardly a triumphant moment. Phelps slung away his cap in disgust and struggled to force a smile at the medal ceremony.

But any disappointment from that race was gone by the time he dived in the water on the relay, having been staked to a huge lead by teammates Ryan Lochte, Conor Dwyer and Ricky Berens.

Before the race, they all huddled together, fully aware of their role in history.

"I thanked those guys for helping me get to this moment," Phelps said. "I told those guys I wanted a big lead. I was like, 'You better give me a big lead going into the last lap,' and they gave it to me. I just wanted to hold on. I thanked them for being able to allow me to have this moment."

Berens handed off a lead of nearly 4 seconds to Phelps, who was extra cautious with the exchange, knowing the only way he could ruin this one was to get disqualified.

Lochte stood on the deck, waving his arms. Dwyer and Berens pumped their fists. And Phelps touched the wall for his first gold of the London Games with a cumulative time of 6 minutes, 59.70 seconds.

No one else was close. France's Yannick Agnel swam a faster final leg than Phelps, but it wasn't nearly good enough, his country taking silver in 7:02.77. China was far back in third at 7:06.30.

"Congrats to Michael Phelps for breaking the all-time Olympic medal record. You've made your country proud," tweeted President Barack Obama.

Phelps might have backed into the record a bit by failing to win any of his first three events at these games, but there's no denying his legacy as one of the greatest Olympians ever - if not THE greatest.

"The legacy he has left behind for swimming is fantastic," said South African Chad le Clos, the guy who beat him in the butterfly. "Even in Africa, everyone knows Michael Phelps."

Phelps has 15 golds in his career, six more than anyone else, to go along with two silvers and two bronzes. After failing to medal in his only race at the 2000 Sydney Games, he won six golds and two bronzes in Athens, followed by his epic eight gold medals in Beijing. And now the swan song, not nearly as epic but enough.

Latynina won nine golds, five silvers and four bronzes from 1956-64.

"You are now a complete legend!" the public-address announcer bellowed, accompanied by the Foo Fighters' song "Best of You."

Phelps still has three more events in London before he retires, three more chances to establish a mark that will be hard for anyone to touch.

"It has been a pretty amazing career," the 27-year-old said, "but we still have a couple races to go."

Several fans held up a bedsheet with "PHELPS GREATEST OLYMPIAN EVER" handwritten on it.

Hard to argue with that, though this hasn't exactly been the farewell Phelps was hoping for -- a sluggish fourth-place finish in the 400 individual medley, a runner-up showing in the 4x100 free relay, then another silver in the 200 fly.

The 200 fly was a race he had not lost at either the Olympics or world championships since Sydney, when he finished fifth as an unknown 15-year-old just soaking up the moment, a kid with big dreams but no idea they would turn out like this.

Phelps, after leading the entire race, tried to glide into the wall instead of taking one more stroke. Le Clos took that extra stroke and beat Phelps by five-hundredths of a second.

"Obviously I would have liked to have a better outcome in the 200 fly," Phelps said. "I was on the receiving end of getting touched out. Chad swam a good race. I've gotten to know him a little over the last year. He's a hard worker, he's a tough competitor and he's a racer."

Le Clos pounded the water when he saw the "1" beside his name.

"He has always been an inspiration to me and a role model," le Clos said. "I've watched all his races a million times and I've run the commentary over and over. Now, I guess I can watch my race."

Phelps hung on the lane rope and buried his face in his hands, disgusted with himself for having squandered what looked like a sure gold. Le Clos won South Africa's second swimming gold of the games in a time of 1:52.96. Phelps finished in 1:53.01, while Japan's Takeshi Matsuda took the bronze in 1:53.21.

"It's obviously my last one," Phelps said. "I would have liked to win, but 1:53 flat isn't a terrible time. When you look at the picture of it, it's a decent time."

But the finish was a stunner, given that Phelps had won a memorable race at Beijing when a rival made the very same error. Milorad Cavic of Serbia thought he had the 100 fly in the bag after his final stroke, but Phelps made the split-second decision to get in one more stroke and slammed into the wall -- one-hundredth of a second ahead of Cavic.

This time, it was Phelps on the losing end. He was again denied a chance to become the first male swimmer to win the same individual event at three straight Olympics, though he can still do it in the 200 individual medley and the 100 butterfly.

Lochte was also feeling better about himself, having struggled in two straight events after opening the Olympics with a dominating win in the 400 individual medley. He swam the anchor of the 4x100 free relay, but was chased down by Agnel after being handed a comfortable lead. Then he was fourth -- far behind Agnel -- in the 200 free.

"After that relay, my confidence went down," Lochte said. "Everyone just kept on telling me, 'You know what, you're better than that. Just forget about it and move on.' I didn't swim at all this morning, which I thought helped. I woke up this morning and I was back to myself. I was that happy-go-lucky guy, so I think that's what really helped me throughout the whole day."

After losing the 200 fly, Phelps retrieved his cap, went over to congratulate le Clos, and hustled out of the pool to get ready for the relay. Before that, Phelps had to return to the deck for a medal ceremony that he clearly would have preferred to skip. He bit his lip, leaned over to have the silver medal draped around his neck, and forced a weak smile.

It sure didn't feel like a celebration.

But the mood was much different when he came out with his teammates to accept gold for the relay. He bantered playfully with the crowd. He posed with an American flag. He propped up a chair trying to reach his mom and two sisters, sitting in the front row.

As Phelps lingered on the deck, doing television interviews, a crowd of U.S. supporters broke into a chant.

"Four more years! Four more years!"

But, really, what's left for someone who's already the greatest?

Source: ESPN

London Olympics by the numbers

The Olympic Games have grown dramatically since 1908 when they were first held in London.

Then just a little more than 2,000 athletes -- nearly all of them men -- competed for 110 gold medals.

But this summer, more than five times that many athletes, 10,500, are expected to compete for 302 gold medals.

All gold medals, however, are not alike.

The ones that will be awarded over the next two weeks contain just 6 grams of gold. They're mostly silver.

A century ago, the gold medals were entirely gold.

As the 2012 Games get under way, here are some other interesting facts and figures to consider:

London

Two -- The number of times London has hosted the Summer Olympics previously. They were in 1908 and 1948. London was scheduled to host the 1944 Summer Olympics, but they were canceled due to World War II.

37 -- The number of women who competed in the 1908 London Games

4,862 -- The number of women expected to compete in 2012, according to official Olympic data culled by The Guardian.

9 million -- The number of tickets sold for the 2012 Olympics.

80,000 -- The number of seats in London's Olympic Stadium.

$775 million -- Estimated cost of London's 2012 Olympic Stadium (£500 million). It is built from only a 10th of the total steel used to build Beijing's Bird's Nest stadium in 2008.

$15 billion -- Estimated amount of money spent by Great Britain to stage the entire Olympics.

Medals

2,300 -- The number of medals that will be handed out during the London Olympics.

1.34% -- The percentage of gold in an Olympic gold medal today.

1912 -- The last year that Olympic gold medals were 100% gold.

0 -- The number of gold medals awarded at the first modern Olympics in 1896. The winners actually received a silver medal instead.

History

27,974 -- The number of Olympic medalists from 1896 to 2010. This includes the Winter Olympics.

43 -- The number of events at the first modern Olympics in 1896. Fourteen countries participated in the competition in Athens, Greece.

302 -- The number of events at the 2012 London Olympics in 26 different sports.

Four -- The number of countries that have competed in every Summer Olympics since 1896. Those would be Greece, Australia, Great Britain and Switzerland.

18 -- The number of medals won by the most-decorated Olympic athlete, Russian gymnast Larysa Latynina. Latynina competed in the 1956, 1960 and 1964 Summer Olympics. Nine of her medals were gold, five were silver and four were bronze.

16 -- The number of Olympic medals won by the most-decorated American athlete, swimmer Michael Phelps. Phelps has won 14 gold medals, eight of which came in the 2008 Games.

Three -- The number of summer sports in which the United States has never won an Olympic medal. They are badminton, table tennis and handball.

13 -- The age of Marjorie Gestring when she won a gold medal in diving in 1936. The American is the youngest gold-medal winner in Olympic history.

62 -- The age of Sweden's Oscar Swahn when he won a gold medal in shooting in 1912. He is the oldest gold-medal winner in Olympic history.

Source: CNN