Four-time major golf champion Phil Mickelson has apologized after complaining about soaring tax rates for millionaires in his native California. It remains to be seen if that satisfies his critics.
Mickelson said recently told The New York Times he will make "drastic changes" because of federal and California state tax increases. "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."
In November, California voters approved Proposition 30, the first statewide tax increase since 2004. Mickelson lives in Rancho Santa Fe.
Mickelson now says his comments were a mistake. "Finances and taxes are a personal matter and I should not have made my opinions on them public," Mickelson said in a statement released by his management company. "I apologize to those I have upset or insulted and assure you I intend to not let it happen again."
Mickelson, a 40-time winner on the PGA Tour, has piled up career earnings of more than $67 million and considerably more via corporate endorsements and his golf-course design company.
The golfer's comments had come in for criticism by Syracuse University professor Len Burman. In Forbes, the professor disputed Mickelson's estimates that he would pay about 63 percent annually in taxes, suggesting it were more like 52 percent.
But even at that level Mickelson still shouldn't complain, Burman argues. "Please stop whining and give thanks for being able to earn a fabulous living playing a game and selling golf clubs (even after tax). 99.999% of people would never have that option, no matter how hard they worked on their swing."
Via The New York Times and Forbes.