I just heard about this! Apparently olympians get taxed on their medals they win while representing our country!

http://dailycaller.com/2012/08/02/romney-olympians-should-not-pay-taxes-on-medals/

Technically they are being taxed on the prize money they are given along with the medal - but I agree it's ridiculous.

Actually, I think this has been blown way out of proportion and completely misrepresented. The media is portraying it as if they are being taxed on the actual medals, which they are not. They are being taxed on the monetary bonus that they receive from the USOC for earning a medal ($25,000 for gold; $15,000 for silver; $10,000 for bronze). It's no different than when I have to pay taxes on my year end performance bonus.

Relax. There are mounds of hyperbole in that.

http://www.politifact.com/truth-o-meter/article/2012/aug/01/are-olympians-taxed-enough-already-grover-norquist/

http://www.snopes.com/politics/taxes/olympics.asp

We don't have to "pay", we just have to claim the prize money and the value of the medal itself on our taxes.

If you're in a money making sport then you don't care. Your endorsements make up for it.

Those of us that aren't in a popular sport it can add up but it's worth it. We're paying for lots of things anyway so it's just one more thing. But it's well worth it. ;-)