As a Nationals season ticket holder since day one of the franchise, I have watched up close one of the great mysteries in Washington. It was the topic around many a watercooler, it dominated talk radio, and one man was so worked up about it that he started a blog about it. The question: “When is Teddy going to win?” On Wednesday afternoon, he did it. The Rough Rider, a bandana tied around his large cranium, crossed the finish line in first after being a 525-time loser. As the Washington Nationals wrapped up their season, and securing the best record in baseball this year, the great mystery of when our 26th president would taste sweet victory in the President’s race was solved. But at what cost? In keeping with our focus at Just Compensation, we found Teddy could be looking at some tax consequences after his win.
It appears that new golden shoes (were they the actual shoes Bryce Harper wore to the All-Star Game?) were a major factor in Teddy finally breaking through. As a major national celebrity, Teddy will surely have a slew of of endorsement deals. His shoes are now at the top of the list.
Fortunately, Teddy will only have to report the value of the golden shoes as compensation at their retail value (around $100). Teddy will not have to report the value of those shoes to his fans inWashington and around the world in producing his first win, which certainly would have been much more than even Teddy’s full salary as President in 1909 ($55,000).
Go Nats, Go Teddy