Posts Tagged ‘taxable income’

Minimum-wage fan gives Derek Jeter a $300,000 gift. Stupid fan, unethical superstar

July 19, 2011

The Pig, if I am not mistaken,
Supplies us sausage, ham, and Bacon.
Let others say his heart is big,
I think it stupid of the Pig.

This old Ogden Nash poem keeps rattling around my brain when I think about Christian Lopez, a 23-year-old, the Verizon Wireless salesman. Lopez caught New York Yankee Derek Jeter’s 3000th hit, and big-heartedly gave the ball to Jeter.

In return Lopez got from the Yankees four luxury suite tickets for the rest of the season, and three bats, three balls, and two jerseys, all signed by Jeter. There has been talk of the Yankees helping Lopez pay off his several hundred thousand dollars in college loans, as well as the tax bill the IRS is likely to present, since the IRS considers Lopez’s catching the ball to be taxable income.

What’s wrong with this picture: a young man, struggling to pay off college loans and support himself with a minimal-paying job, gives a gift—estimated to be worth $300,000 on the open market—to a baseball superstar whose salary for 2011 is $14,729,365?

While others may say Lopez’s heart is big, I think it stupid. But is there a pig in the story? How about Jeter, the gazillionaire who accepts a $300,000 gift from a fan who could only afford one of the cheap seats to see his Yankees play?

Jeter is widely considered classy. No sign of it in this story.