When I read this, I couldn't believe it, U.S. Olympians get taxed on their medals. They also are taxed heavily at 35%, on their cash prize from winning a medal.
What a night to remember at the 2012 London Olympics yesterday. History was made and U.S.A. is on a definite roll. Michael Phelps takes home his 19th Olympic medal last night, making him the most decorated Olympian of all time!