Fresh off the course at the Humana Challenge golf tournament this weekend, Phil Mickelson told reporters that recent tax hikes on the rich might force him to make "drastic changes," suggesting he'd be leaving either golf or his home in California.
At the center of Mickelson's tax complaint was his claim that he pays a tax rate of 62 to 63 percent.
"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 percent," Mickelson said. "So I've got to make some decisions on what I'm going to do."
There is no doubt that Mickelson's taxes are high. And they just went up by an additional 7.9 percent over the past three months due to the "fiscal cliff" deal and California's Proposition 30.
But several accountants interviewed said it's unlikely that Mickelson is actually paying a rate above 60 percent. With even the most basic tax planning, they said, his real rate is most likely closer to 50 percent. Read more at NBC News