Legendary NFL head coach Bill Belichick commented that nearly every NFL player who joins the New England Patriots is subject to a “wealth tax” that significantly reduces their income.
The eight-time Super Bowl-winning coach was discussing the factors that influence a notable NFL player's decision on which team to play for — specifically, Dallas Cowboys wide receiver CeeDee Lamb.
Lamb recently signed a four-year, $136 million contract extension with the Dallas Cowboys. The Cowboys, of course, play in Texas, a state with no state income tax. Belichick said:The Pat McAfee Show“
“It's not like Tennessee or Florida or Nevada. Some of those teams don't have a state income tax.”
Regarding rumors that Lamb was considering a move to San Francisco, Belichick said: [Lamb] Do I want as much money as possible? Yes, of course. But is it really worth it to leave the environment and opportunities of Dallas for somewhere else?
“If you're already on the team, how much is the team actually worth by the time you move and pay the 50 percent tax, or the New England millionaire's tax?” the coach asked.
“Coach, what's this millionaire tax?” the hosts asked simultaneously.
“That's the Taxachets,” Belichick said. Reply“Almost every player, even on the practice squad or at the lowest level, has a salary that's pretty close to $1 million. Once you hit that million threshold, you're paying additional state taxes in Massachusetts,” he explained.
Belichick added that Massachusetts' tax levels often lead player agents to ask for more money, making the tax level a bargaining chip.
“You have to deal with different issues in negotiations there. It's not like Tennessee or Florida or Nevada. Some of those teams don't have a state income tax. It makes it a lot tougher when it comes to agents.”
Host McAfee, who played in Indiana, where the state income tax rate is just over 3 percent, joked about “destination” cities that give teams an advantage in contract negotiations.
“That's why when these destination teams start popping up, you know, in Florida or Texas or Tennessee, all of a sudden it looks so good. The barter goes through the roof and it's hundreds of thousands. That's a lot of money. Hey! That's a lot of money! Now, we all want to pay our fair share. I'd love to know where it's going. But we all want to pay, so, well, let's leave it at that,” he joked.
Wide receiver Calvin Ridley recently signed with the Tennessee Titans over the New England Patriots, but Patriots owner Robert Kraft said the tax rate between the two states was one of Ridley's concerns. Decision factors, Nessun Reported.
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