Looks like the lunatic liberals and their confiscatory tax rates cost the San Francisco Giants the services of outfielder Bryce Harper who blew off the team because the state’s taxes are way too high.
Well, you can’t say that Harper is an idiot, huh?
The star outfielder, who just signed a13-year, $330 million contract with the Philadelphia Phillies, apparently talked a bit with the San Fran Giants but ended up deciding the team’s offer just wasn’t good enough.
According to The Blaze:
Reports indicated the Giants moved a 12-year, $310 million deal across the table — but Harper and his agent Scott Boras pushed it back. Not enough dough, apparently.
Bob Nightengale, USA Today’s baseball columnist, said Harper and Boras wanted at least $335 million over 12 years from the Giants — and all because of California’s exorbitant income tax rate, by far the highest marginal rate in the U.S.
The #SFGiants offered $310 million over 12 years for Harper, confirming @PavlovicNBCS report. The Giants would have had to go at least to $335 or even higher, they were informed because of exorbitant California taxes
— Bob Nightengale (@BNightengale) February 28, 2019
So, what would it mean for Harper to be forced to pay California taxes?
The Blaze continues…
California taxes its residents 12.3 percent on income of $572,981 and above and an additional 1 percent for those making $1 million or more per year — what’s known as the mental health services tax — putting such earners on the hook for a 13.3 percent state income tax rate.
Had Harper signed for the Giants for $310 million over 12 years, he would’ve owed California about $3.4 million in taxes per year — or over $41 million in taxes over the course of his contract.
So, what will he be paying in Pennsylvania?
By contrast, Pennsylvania has a flat tax rate of just 3.07 percent. If Harper ends up living in the Keystone State, he’ll owe about $780,000 in taxes per year — or just over $10 million in taxes over the course of his Phillies’ contract.
Well, that seems pretty clear cut, doesn’t it?
Follow Warner Todd Huston on Twitter @warnerthuston.