Photo: Screenshot via ESPN
Phil Mickelson has set the golf world atwitter with comments about his tax rate.After finishing his round at yesterday’s PGA event he spoke with the media, and somewhat out of the blue, said he was going to be making some “drastic changes” to his life because of the increases in federal and state taxes.
“If you add up, if you add up all the federal and you look at the disability and the unemployment and the Social Security and the state, my tax rate’s 62, 63 per cent,” said Mickelson, according to a transcript. He continued, “So I’ve got to make some decisions on what I’m going to do.”
Mickelson is a Southern California guy. He was born in San Diego, and he lives in San Diego.
California, as part of its plan to fix the state’s budget, raised tax rates on people making over $1 million. Mickelson is estimated to have earned $60 million last year, making him the second best compensated athlete in America. He makes his money through endorsements and tour winnings.
This week the PGA will be in San Diego, playing at Torrey Pines, a legendary public course. Mickelson has been doing some renovations on one of Torrey Pines courses through his design firm. He has deep roots in the area and had always prided himself on that. It seems like that’s coming to a close.
It sounds like Mickelson plans to make an announcement that he’s moving out of California.
“I’m not sure what exactly, you know, I’m going to do yet,” he said. “I’ll probably talk about it more in depth next week. I’m not going to jump the gun, but there are going to be some some drastic changes for me because 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.”
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