Former New England Patriots head coach and one of the most decorated coaches in NFL history, Bill Belichick, spoke about taxes.
Legend has it that a Massachusetts law prevented the star football player from signing with the New England Patriots.
“Taxachusetts,” he joked. “Even the lowest-paid players are pretty close to $1 million. So when you hit that million-dollar threshold, you're going to pay a lot more state tax in Massachusetts.”
Rob Eno Blaze TV The media commentator and Massachusetts native joined Jill Savage on the “Blaze News Tonight” panel to explain why athletes have a financial incentive to sign with teams in states with more reasonable tax structures and why “football is more vulnerable than other professional sports.”
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“In November 2022, Massachusetts residents actually voted to repeal the constitutional amendment banning progressive taxation,” Eno explained, adding that they instead opted for a “5% flat tax rate” and a “4% wealth surcharge.”
He points to NBA forward Grant Williams as an example of why athletes are leaving Massachusetts.
Williams, who played four seasons with the Boston Celtics, compared his annual salary in Massachusetts to “$48 million, including wealth taxes,” compared to “$54 million” in Dallas, Texas.
“There's something called an athlete tax. … If you live in Dallas, you're going to pay California tax or Boston tax for a day game there, but if you live in Massachusetts or you work for the Boston Celtics or the New England Patriots and you come to Dallas, you're still going to pay the Massachusetts tax rate because that's the state where you make your money,” Eno explained.
But the millionaire's tax isn't just hitting athletes.
“A Boston-based CPA… who works with the wealthy says at least one client is considering leaving the firm… The owner of the Boston Celtics is planning to leave, citing Massachusetts estate taxes,” Eno reports.
“This is actually [Patriot’s] “What's the roster?” Jill asks.
“I think this is really hurting the roster and I think every team is aware of this,” Eno said. “Middle League and [NBA]”There's a luxury tax,” but “you can't do that in football.”
“[Belichick] “This is really making a political statement,” said Matthew Peterson, editor-in-chief of Blaze Media.
To hear the rest of the conversation, check out the clip above.
