Word from Americans for Tax Reform that Super Bowl MVP Joe Flacco has agreed to a six-year, $120.6 million contract with the Baltimore Ravens that make him the NFL’s highest-paid player, ever. But Flacco’s tax rate is 51.98 percent due to overlapping income taxes from the IRS, Maryland and the County of Baltimore.
While Flacco is paid the most, New Orleans’ quarterback Drew Brees takes home $470,000 more with a combined tax rate of 49.4 percent. Louisiana’s governor, Bobby Jindal, is trying to eliminate the state’s income tax, which would further boost Brees’ advantage over Flacco.
If Flacco played for a Texas team instead, he’d pocket $1.72 million more per year in tax savings.