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It was retained by mining and other companies as dividends and unearned royalties.
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Earned income for athletes includes wages and net endorsement income, while unearned income includes interest, dividends, capital gains and royalties.
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They will pay an additional 0.9% in Medicare tax, and a proposed (additional) 3.8% tax on unearned income (including interest, dividends and capital gains).
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Meanwhile, the 3.8-percent tax on unearned income, like capital gains, dividends, and interest, will discourage saving and investment.
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Besides dividends and interest, other sources of unearned income include capital gains, gambling winnings, alimony, Social Security payments, pensions and annuities.
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But the law also imposes for the first time ever a 3.8 percent Medicare tax on passive, or unearned, income, such as capital gains and dividends, for people in that same tax bracket.
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The exclusion has never applied to unearned U.S. source income of expatriates, mainly dividends and interest, although the exclusion frequently allowed these sources to be taxed at a lower marginal rate.
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