From Paradigm Press:
In Detroit on Thursday, the Chicago Bears drafted USC quarterback Caleb Williams as the No. 1 pick of the NFL draft.
Williams’ four-year contract — which includes a fifth-year option — is worth about $38.5 million, according to Spotrac, with a signing bonus around $25 million.
Nonetheless, before the draft, Williams indicated he was less than enthusiastic about being drafted by “Da Bears.”
We wonder if Illinois taxes had something to do with Williams’ reluctance?
State taxes will significantly affect Williams’ take-home pay — a factor we mentioned when MLB star Bryce Harper chose to play for the Phillies instead of the
San Francisco Giants.
Or when NFL wide receiver Tyreek Hill made the “grown-up decision” to play for the Dolphins instead of the NY Jets.
Accordingly, the Tax Foundation notes that Williams would have fared best taxwise playing for the…
Jacksonville Jaguars: $59,421 tax burden per $10 million
Tennessee Titans: $96,770 tax burden per $10 million
Houston Texans: $110,523 tax burden per $10 million.
As it stands, playing for the Chicago Bears, Williams will spend $538,956 in state and local taxes for every $10 million he earns. Oof!
For the highest earners in Cali the rate is 13.3%... yikes!
Our Rams.... It's a controlled Obsession!
