Phil Mickelson taxes: Golfer may consider retirement

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LA QUINTA, Calif. — Golfer Phil Mickelson gave a civics lesson after his play Sunday in the final round of the Humana Challenge. The lecture: I’m not going to pay more in taxes than I can take home to my wife and kids.

FoxSports reported that Mickelson, a longtime California resident, vented after shooting a final-round 66 for a 17-under 271 total and tie for 37th in his 2013 debut.

Last fall, Californians approved Proposition 30, which boosts the state income tax to 13.3 percent on earnings of $1 million or more. That’s a 29.1 percent increase from the previous “millionaires tax” in a state with tremendous fiscal issues.

Compound that increased liability with the recent changes to the federal tax code, which bumps the top bracket to 39.6 percent from 35 percent to avoid going over the so-called fiscal cliff, and Mickelson’s tax hit is substantial.

Read full story: KDVR.

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