WT- Nate unlikely to be back (WAIT! + instagram pic pg 81!)

[Mr Funk]

I know this sounds kind of bad, considering how much money most people in the world make, but $20.4 million spread over 8 years might not leave a pro basketball player all that well set up for the future, depending on how well he managed it. A certain percentage for taxes, certain percentage for agents, family stuff, sometimes alimony and/or child support, and then factor in that a lot of those guys live pretty profligately during their careers if only b/c they're hanging around with other rich guys (and some support an entourage). I don't know anything about Nate's habits, but guys like Iverson made a whole lot more than Nate and don't have anything to show for it. So I wouldn't just assume that he's well heeled for life and now in a position to take a pay cut for a title run.

Comparing Nate to Iverson is quite the stretch.

Nate seems to have a pretty stable family and life, has really matured and has a good head on his shoulders.

The rich and wealthy pay little in taxes, and yes while they do have to pay percentage for agents et al, they're not exactly struggling to get by.

[Ben]

I know this sounds kind of bad, considering how much money most people in the world make, but $20.4 million spread over 8 years might not leave a pro basketball player all that well set up for the future, depending on how well he managed it. A certain percentage for taxes, certain percentage for agents, family stuff, sometimes alimony and/or child support, and then factor in that a lot of those guys live pretty profligately during their careers if only b/c they're hanging around with other rich guys (and some support an entourage). I don't know anything about Nate's habits, but guys like Iverson made a whole lot more than Nate and don't have anything to show for it. So I wouldn't just assume that he's well heeled for life and now in a position to take a pay cut for a title run.

Comparing Nate to Iverson is quite the stretch.

Nate seems to have a pretty stable family and life, has really matured and has a good head on his shoulders.

The rich and wealthy pay little in taxes, and yes while they do have to pay percentage for agents et al, they're not exactly struggling to get by.

Like I said, I have no idea how he lives and how he saves. But Iverson is far from the only guy who has not saved any money. If you know differently about Nate, good for him. It's not a foregone conclusion, though.

By the way, do you think that NBA players are paying less than the top income rate? People whose income comes from investments pay low rates, but income itself-- when fully reported, as it would be for pro athletes-- should be taxed pretty uniformly by the government. Shouldn't it?

[SteveDobbs]

I know this sounds kind of bad, considering how much money most people in the world make, but $20.4 million spread over 8 years might not leave a pro basketball player all that well set up for the future, depending on how well he managed it. A certain percentage for taxes, certain percentage for agents, family stuff, sometimes alimony and/or child support, and then factor in that a lot of those guys live pretty profligately during their careers if only b/c they're hanging around with other rich guys (and some support an entourage). I don't know anything about Nate's habits, but guys like Iverson made a whole lot more than Nate and don't have anything to show for it. So I wouldn't just assume that he's well heeled for life and now in a position to take a pay cut for a title run.

Comparing Nate to Iverson is quite the stretch.

Nate seems to have a pretty stable family and life, has really matured and has a good head on his shoulders.

The rich and wealthy pay little in taxes, and yes while they do have to pay percentage for agents et al, they're not exactly struggling to get by.

Like I said, I have no idea how he lives and how he saves. But Iverson is far from the only guy who has not saved any money. If you know differently about Nate, good for him. It's not a foregone conclusion, though.

By the way, do you think that NBA players are paying less than the top income rate? People whose income comes from investments pay low rates, but income itself-- when fully reported, as it would be for pro athletes-- should be taxed pretty uniformly by the government. Shouldn't it?

Agreed. Without derailing this into an argument none of us want to have, the blanket statement "the rich and wealthy pay little in taxes" is just completely untrue.

[dice]

Without derailing this into an argument none of us want to have, the blanket statement "the rich and wealthy pay little in taxes" is just completely untrue.

replace the word 'the' with 'many' in the above quote and it becomes true

[LoveDaBoo]

By the way, do you think that NBA players are paying less than the top income rate? People whose income comes from investments pay low rates, but income itself-- when fully reported, as it would be for pro athletes-- should be taxed pretty uniformly by the government. Shouldn't it?

No doubt, they get dinged good. They're part of that "working-class rich." They're not "wealthy" per se, but high-income, which is a different animal.

[Ben]

By the way, do you think that NBA players are paying less than the top income rate? People whose income comes from investments pay low rates, but income itself-- when fully reported, as it would be for pro athletes-- should be taxed pretty uniformly by the government. Shouldn't it?

No doubt, they get dinged good. They're part of that "working-class rich." They're not "wealthy" per se, but high-income, which is a different animal.

One of my favorite Chris Rock bits.

[youtube]http://www.youtube.com/watch?v=4m37JkkGjAY[/youtube]

[coldfish]

Yeah, basketball players get murdered as far as that stuff goes. The tax code is geared towards killing people with high incomes as part of a job. Someone let me know the next time a basketball player gets paid in deferred stock options. When you add agent fees, just assume that your typical basketball player loses half their income before they see any money.

I wholehearted agree with Ben. Unless Nate has been extremely wise in his investments, he isn't set for life.

The agents won't let it happen because they are greedy, but it should be mandatory that all basketball players get 20% deferred income. Deng has such a deal and he really is set for life. 20% of his pay goes into an annuity that pays out over 20 years I believe. $700K per year until he is in his 50's.

[LoveDaBoo]

By the way, do you think that NBA players are paying less than the top income rate? People whose income comes from investments pay low rates, but income itself-- when fully reported, as it would be for pro athletes-- should be taxed pretty uniformly by the government. Shouldn't it?

No doubt, they get dinged good. They're part of that "working-class rich." They're not "wealthy" per se, but high-income, which is a different animal.

One of my favorite Chris Rock bits.

[youtube]http://www.youtube.com/watch?v=4m37JkkGjAY[/youtube]

Yeah, really insightful stuff there. Brilliant how he lays it out. Whatever happened to him? I see Rock in these Grownups movies and want to puke. C'mon, man. But, anyhow, his point about the difference between being rich and having wealth is a good one. People all too commonly mistake large incomes with wealth. For that reason, people foolishly think that high income tax rates will fix things.

[Captain Thrust]

There's an other side of the coin too.
NBA players get TONS of "Allowances", freebies(sneakers, clothes,food, etc.) and other goodies outside of their contract salaries..


Check out this pretty neat article.
Small snippet below.

Part of the NBA's collective bargaining agreement, each NBA player receives $106 US for every day they are on the road. It serves as their meal money - roughly $19 for breakfast, $30 for lunch and $57 for dinner. Not a bad deal, considering $106 can easily feed a family of five for a week! The $106 a day is a nice raise from the original per diem. In 1957 the NBA's per diem was $7 a day.

At the beginning of a road trip, each player is given an envelope of per diem money. For example if the team is on a five-day-road-trip, each player's envelope is filled with $530 US! The average salary for an NBA player is $5.5 million a year, so it's not like the players need the extra money. But everything in the NBA is first class. The players stay is five star hotels and fly in private jets. All of which is also on the NBA's dime!

Also mentioned lil Nate too in his NYK days lol.

Nate Robinson - The New York Knicks' guard has learned a few tricks on how not to spend his per diem. He hangs out in some of his richer teammates' rooms and when they order room service, he adds his own order on their bill!

So yeah he definitely seems like a pretty heady guy with his money..

http://www.kidzworld.com/article/8022-p ... e-per-diem

[LoveDaBoo]

Yeah, basketball players get murdered as far as that stuff goes. The tax code is geared towards killing people with high incomes as part of a job. Someone let me know the next time a basketball player gets paid in deferred stock options. When you add agent fees, just assume that your typical basketball player loses half their income before they see any money.

I wholehearted agree with Ben. Unless Nate has been extremely wise in his investments, he isn't set for life.

The agents won't let it happen because they are greedy, but it should be mandatory that all basketball players get 20% deferred income. Deng has such a deal and he really is set for life. 20% of his pay goes into an annuity that pays out over 20 years I believe. $700K per year until he is in his 50's.

I can't go quite that far. Someone who earns $20M in income should be set for life, even given the distinction. I don't really blame those who aren't, because it's easy for people to get caught up in the fast-lane of life when they're not truly wealthy. But you wouldn't have to be a great investor to live on that for life. I'll never earn $10M in my life, that's for sure. Still and all, our system rewards people who own at the expense of those who produce, and that sucks.

[LoveDaBoo]

There's an other side of the coin too.
NBA players get TONS of "Allowances", freebies(sneakers, clothes,food, etc.) and other goodies outside of their contract salaries..


Check out this pretty neat article.
Small snippet below.

Part of the NBA's collective bargaining agreement, each NBA player receives $106 US for every day they are on the road. It serves as their meal money - roughly $19 for breakfast, $30 for lunch and $57 for dinner. Not a bad deal, considering $106 can easily feed a family of five for a week! The $106 a day is a nice raise from the original per diem. In 1957 the NBA's per diem was $7 a day.

At the beginning of a road trip, each player is given an envelope of per diem money. For example if the team is on a five-day-road-trip, each player's envelope is filled with $530 US! The average salary for an NBA player is $5.5 million a year, so it's not like the players need the extra money. But everything in the NBA is first class. The players stay is five star hotels and fly in private jets. All of which is also on the NBA's dime!

Also mentioned lil Nate too in his NYK days lol.

Nate Robinson - The New York Knicks' guard has learned a few tricks on how not to spend his per diem. He hangs out in some of his richer teammates' rooms and when they order room service, he adds his own order on their bill!

So yeah he definitely seems like a pretty heady guy with his money..

http://www.kidzworld.com/article/8022-p ... e-per-diem

Smart. Looks like Nate is savvy. Throw them dimes like manhole covers.

[dice]

By the way, do you think that NBA players are paying less than the top income rate? People whose income comes from investments pay low rates, but income itself-- when fully reported, as it would be for pro athletes-- should be taxed pretty uniformly by the government. Shouldn't it?

No doubt, they get dinged good. They're part of that "working-class rich." They're not "wealthy" per se, but high-income, which is a different animal.

One of my favorite Chris Rock bits.

[youtube]http://www.youtube.com/watch?v=4m37JkkGjAY[/youtube]

bringing it back to basketball...can't remember where i saw this on television recently, but someone was being interviewed about hanging out with lebron or wade and ending up on one of micky arison's yacht/homes. talked about the same thing chris rock references there

[HomoSapien]

David Aldridge ‏@daldridgetnt 6m
Will Bynum's deal in Detroit is for two years, $5.75 million.

One more point guard off the table and a guy we were potentially interested in.

[Doom]

There's an other side of the coin too.
NBA players get TONS of "Allowances", freebies(sneakers, clothes,food, etc.) and other goodies outside of their contract salaries..


Check out this pretty neat article.
Small snippet below.

Part of the NBA's collective bargaining agreement, each NBA player receives $106 US for every day they are on the road. It serves as their meal money - roughly $19 for breakfast, $30 for lunch and $57 for dinner. Not a bad deal, considering $106 can easily feed a family of five for a week! The $106 a day is a nice raise from the original per diem. In 1957 the NBA's per diem was $7 a day.

At the beginning of a road trip, each player is given an envelope of per diem money. For example if the team is on a five-day-road-trip, each player's envelope is filled with $530 US! The average salary for an NBA player is $5.5 million a year, so it's not like the players need the extra money. But everything in the NBA is first class. The players stay is five star hotels and fly in private jets. All of which is also on the NBA's dime!

Also mentioned lil Nate too in his NYK days lol.

Nate Robinson - The New York Knicks' guard has learned a few tricks on how not to spend his per diem. He hangs out in some of his richer teammates' rooms and when they order room service, he adds his own order on their bill!

So yeah he definitely seems like a pretty heady guy with his money..

http://www.kidzworld.com/article/8022-p ... e-per-diem

Lol I enjoyed reading this

[Ben]

David Aldridge ‏@daldridgetnt 6m
Will Bynum's deal in Detroit is for two years, $5.75 million.

One more point guard off the table and a guy we were potentially interested in.

Kind of surprising that he scored less than $3M/year. I would have hoped that some non-Detroit team interested in a PG and long on capspace-- say, Utah???-- would have give him a whirl.

Oh well, some Utah fans are talking about Tinsley (who has played for them) and JLIII. Hope the Jazz go for one of them and not Nate.

[LoveDaBoo]

As to that, am I the only one who is surprised that Nate doesn't have more play? Unless I've missed it, the rumors surrounding Nate have been few and far between. I've criticized the board for over-rating him, but I'd have thought we'd have heard of several serious offers by now. There doesn't seem to have been much in that regard.

[Tenchi Ryu]

[youtube]http://www.youtube.com/watch?v=4m37JkkGjAY[/youtube]

Off-topic, but its crazy how much truth in general you get from comedians. They get to speak what's really going on and completely get away with it under the blanket "its just comedy".

Dave Chappelle definitely comes to mind.

[whonka]

There's an other side of the coin too.
NBA players get TONS of "Allowances", freebies(sneakers, clothes,food, etc.) and other goodies outside of their contract salaries..


Check out this pretty neat article.
Small snippet below.

Part of the NBA's collective bargaining agreement, each NBA player receives $106 US for every day they are on the road. It serves as their meal money - roughly $19 for breakfast, $30 for lunch and $57 for dinner. Not a bad deal, considering $106 can easily feed a family of five for a week! The $106 a day is a nice raise from the original per diem. In 1957 the NBA's per diem was $7 a day.

At the beginning of a road trip, each player is given an envelope of per diem money. For example if the team is on a five-day-road-trip, each player's envelope is filled with $530 US! The average salary for an NBA player is $5.5 million a year, so it's not like the players need the extra money. But everything in the NBA is first class. The players stay is five star hotels and fly in private jets. All of which is also on the NBA's dime!

Also mentioned lil Nate too in his NYK days lol.

Nate Robinson - The New York Knicks' guard has learned a few tricks on how not to spend his per diem. He hangs out in some of his richer teammates' rooms and when they order room service, he adds his own order on their bill!

So yeah he definitely seems like a pretty heady guy with his money..

http://www.kidzworld.com/article/8022-p ... e-per-diem

That's actually pretty interesting lol. I did a bit more reading:

http://m.rockymountainnews.com/news/200 ... ce-of-106/

Some excerpts:

Houston Rockets center Yao Ming is making $12.5 million this season. When he was out for 2 1/2 months earlier this season because of a broken right leg, he was asked by a Houston Chronicle reporter why he went on a certain trip. Yao quipped it was so he could get the "road trip per diem."

"I'm the Subway king," said Sampson, prouder of that crown than some have been after being named player of the week. "I don't do room service. I'd rather walk."

Sampson, making $798,112 this season, makes hitting the pavement in an opposing city profitable. NBA players receive $106 per diem on the road for meals and incidentals.

"Man, we gamble away that money right away on the plane," said Nuggets guard DerMarr Johnson, referring to high-stakes card games. "We put it right into the gambling pot."

As the Nuggets' only rookie, guard Yakhouba Diawara has added duties. But don't think he's not compensated. "Sometimes I give it to 'Kouba,' " center Marcus Camby said of his per diem. "He doesn't have the big contracts like a lot of us. I take care of him. I've bought him suits, PlayStation and an iPod." For Camby's generosity, Diawara sometimes carries bags and gets food for Camby. But it doesn't sound like he's overworked. "I just help him out, nothing too much," Diawara said.

[whonka]

^^ Maybe the above is why Derrick joined the team for road trips :p, just like Yao!

[Big White Stiff]

Without derailing this into an argument none of us want to have, the blanket statement "the rich and wealthy pay little in taxes" is just completely untrue.

replace the word 'the' with 'many' in the above quote and it becomes true

No it does not. The rich pay a large sum of money in taxes to the government on a yearly basis.