Staff Blog
What Obama Means for Free Agency
Apparently President-elect Obama is having some tangible effects on Major League Baseball already. The AP’s Ronald Blum reports:
Looking ahead to the possibility of an Obama administration, some baseball agents have been thinking about trying to beat a possible tax increase for their well-paid clients.
During his presidential campaign, Democrat Barack Obama proposed increasing the top federal income-tax rate from 35 percent to 39.6 percent, where it was under the Clinton administration. If signing bonuses are paid before Jan. 1, they likely would be taxed at the current rate and would not be subject to any tax increase.
Something tells me this will not be his legacy.
