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James Harden stands to pay $13 million+ in taxes after trade

Discussion in 'Houston Rockets: Game Action & Roster Moves' started by Xerobull, Jan 14, 2021.

  1. Xerobull

    Xerobull You son of a b!tch! I'm in!

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    Whomp-whomp. Enjoy the pay cut, beardy.

    James Harden stands to pay $13 million+ in taxes after trade
    [​IMG]

    James Harden stands to pay more than $13 million more in taxes after his trade to the Brooklyn Nets.AP/MARK J. TERRILL
    The Houston Rockets have traded eight-time All-Star James Harden to the Brooklyn Nets as part of a four-team deal involving the Indiana Pacers and Cleveland Cavaliers, according to ESPN and other media reports. The Rockets will obtain multiple first round picks, opportunities to swap draft picks and several players, including Victor Oladipo, Dante Exum and Rodions Kurucs.

    Harden, 31, had demanded a trade because of frustration with the Rockets, who are 3-6 and seemingly in rebuilding mode.

    While the former MVP will join superstar Kevin Durant and, potentially, Kyrie Irving, who is currently out for personal reasons, the move will cost Harden money. The Rockets had offered him a two-year, $103 million extension that would have followed the $133 million he is already owed over the next three seasons. The Nets will be unable to offer such an extension due to salary cap restrictions.

    Harden also leaves Texas, one of nine states without an income tax on wages, for New York, one of the nation’s highest taxing states. While Harden will continue to be owed the same amount of money over the next three years, his pay will be subject to an approximately 12.7% tax rate between New York State and New York City.

    In November, we ran the numbers on a Harden trade to the Nets. The short of it: He’ll pay an additional $13.6 million in taxes over the next three years. The following chart, which incorporates jock taxes and assumes that Harden will be a resident of New York City, breaks down the numbers:


    Beyond taxes, Harden will experience a far higher cost of living in New York than in Houston. According to Nerd Wallet, it is 92% more expensive to live in Brooklyn, and 165% more expensive to live in Manhattan, than in Houston. Potentially offsetting the increased taxes and cost of living may be lucrative endorsement opportunities in the nation’s largest media market.

    Harden might not care much about these tradeoffs. He has already earned well over $225 million in his NBA career from salaries and endorsements, among them Adidas, Electronic Arts and BodyArmor. He now has the chance to win a championship.

    For the future Hall of Famer, an NBA title might be priceless.
     
  2. tinman

    tinman Contributing Member
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    The Nets are basically the Clippers of New York City
     
    saleem, Rodman23, malakas and 8 others like this.
  3. Os Trigonum

    Os Trigonum Contributing Member
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    that's a lot of hunny buns
     
  4. apollo33

    apollo33 Member

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    No more honey buns for Lil baby
     
  5. YOLO

    YOLO Member

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    I'm sure that hurts him so much
     
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  6. Reeko

    Reeko Member

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    Harden declined a 2/103 extension

    he is not worried about the money..

    he’s losing around 4 mil/yr in additional taxes...that’s pocket change money for him
     
  7. steddinotayto

    steddinotayto Contributing Member

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    Some reason I think James will be okay. He might have to go the Dynex route for his apartment though.
     
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  8. dc rock

    dc rock Contributing Member

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    Probably will get better, more lucrative endorsement deals now that he's in a preferred market. Maybe he can be the new Subway guy and lose weight by eating sandwiches every day. Anyway, Harden wasn't even my favorite fat Rocket.

    [​IMG]
     
  9. Ziggy

    Ziggy QUEEN ANON

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    He's willing to forfeit money to win and play with real players and coaches.

    Tilman is not.

    Harden would rather lose money than play with this **** team and **** owner. Lulz.

    John Wall & Cousins? Lulz.
     
  10. Dankstronaut

    Dankstronaut Way, way out here.
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    lol at state taxes...I know a lot of former athletes live here because of that reasoning but guys who are in the midst of million dollar contracts, career earnings like James Harden especially....13 out of what 120 he's about to make, let alone whatever stupid size extension he'll get after the chip too? When he's been making "extra" this whole time because of no state taxes...
     
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  11. TEXNIFICENT

    TEXNIFICENT Member

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    WHO CARES?????
     
  12. lnchan

    lnchan Sugar Land Leonard

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    Pig Miller is offended.
     
    basso and dc rock like this.
  13. Williamson

    Williamson JOSH CHRISTOPHER ONLY FAN
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    Y'all think a native Californian is afraid of state income taxes?
     
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  14. Juxtaposed Jolt

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    James Harden's reaction to this unsettling news:

    [​IMG]
     
  15. jimmyv281

    jimmyv281 Member

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    Someone very crafty I hope creates a thread of upcoming free agents for the next three years and attach our salary cap figures “updated” ..
    identity our free agent target
    Gather social info
    Assess person and situation
    Manage evaluate players
     
  16. Sweet Lou 4 2

    Sweet Lou 4 2 Contributing Member
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    This was true of the NJ Nets, but not the BK Nets. Brooklyn will embrace the Nets over the Knicks easily as their is a bit of a rivalry between the two boroughs.
     
    Os Trigonum likes this.
  17. Os Trigonum

    Os Trigonum Contributing Member
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    that's already happened
     
  18. tinman

    tinman Contributing Member
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    Too hard to measure during a year where you can’t have fans
     
  19. Sweet Lou 4 2

    Sweet Lou 4 2 Contributing Member
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    Yes, that's true to a good extent, but now it will be a fever.
     
    Os Trigonum likes this.
  20. dmoneybangbang

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    Lots of candy commercials...

    [​IMG]
     
    Ramo$e likes this.

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