Phil Mickelson hints at retirement because of increased taxes
It’s hard to feel sorry for a guy who has made more than $67 million in PGA Tour earnings (and that doesn’t even count millions more in endorsement deals), but you can sort of see his point. Phil Mickelson announced on Sunday that he will make “drastic changes†because of federal and California state tax increases.
“It’s been an interesting off-season,†Mickelson said. “And I’m going to have to make some drastic changes. I’m not going to jump the gun and do it right away, but I will be making some drastic changes.â€
Mickelson did not rule off just flat-out retiring from golf.
“I’m not sure what exactly, you know, I’m going to do yet,†he said. “I’ll probably talk about it more in depth next week. I’m not going to jump the gun, but there are going to be some. There are going to be some drastic changes for me because I happen to be in that zone that has been targeted both federally and by the state and, you know, it doesn’t work for me right now. So I’m going to have to make some changes.
“If you add up all the federal and you look at the disability and the unemployment and the Social Security and the state, my tax rate’s 62, 63%. So I’ve got to make some decisions on what I’m going to do.â€
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