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#1727269 - 08/03/12 05:58 PM
Italy's Gold Medal Payout Raises Eyebrows
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Italy's Gold Medal Payout Raises Eyebrows snip - Raising eyebrows, Italy's $182,400 payout to any Italian who wins a gold medal. That's the highest payout in the world.
The British press has raised questions about why a country that is struggling to cut its spending would be so generous. With four gold medals so far, Rome is on the hook thus far for almost $730,000.
In second place is Russia, paying nearly $135,000. Third is France paying $ 65,200. In the host country, Olympic athletes receive zero, meaning British cyclist Bradley Wiggins, and rowers Helen Glover and Heather Stanning, all of whom won gold for Team GB will get pats on the back, and hopefully more endorsements.
China reportedly offers $31,400 to gold medal winners, while Japan rewards them with $35,900, Canada gives $20,000, and Germany, just less than that, at $19,500 for a gold.
In the U.S., gold medal winners get $25,000, $15,000 for silver and $10,000 for bronze. This is not government money, it's paid by the U.S. Olympic Committee.
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#1727270 - 08/03/12 06:00 PM
Re: Italy's Gold Medal Payout Raises Eyebrows
A_G
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meaning British cyclist Bradley Wiggins, and rowers Helen Glover and Heather Stanning, all of whom won gold for Team GB will get pats on the back
With or without cheetos?
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#1727272 - 08/03/12 06:01 PM
Re: Italy's Gold Medal Payout Raises Eyebrows
edAudit
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TX
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#1727273 - 08/03/12 06:02 PM
Re: Italy's Gold Medal Payout Raises Eyebrows
Miscuit
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In other news - Saudi Arabia's prize for winning a gold medal: you get to live.
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#1727275 - 08/03/12 06:05 PM
Re: Italy's Gold Medal Payout Raises Eyebrows
A_G
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Did I read that N Korea was giving Refrigerators to Gold winners and all else get to go to camp?
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#1727277 - 08/03/12 06:07 PM
Re: Italy's Gold Medal Payout Raises Eyebrows
DD Regs
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Yes, you read that in the yahoo comments below the article. Yahoo comments are the best on the internet! 
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#1727278 - 08/03/12 06:08 PM
Re: Italy's Gold Medal Payout Raises Eyebrows
A_G
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Just about as reliable as yahoo.
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#1727281 - 08/03/12 06:10 PM
Re: Italy's Gold Medal Payout Raises Eyebrows
DD Regs
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Ok!
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#1727328 - 08/03/12 06:53 PM
Re: Italy's Gold Medal Payout Raises Eyebrows
A_G
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under the Lone Star
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this bonus, and the fair market value of the medal itself is taxed at the appropriate rate....so Phelps owes the IRS about $9,000 for each gold...
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#1727343 - 08/03/12 07:00 PM
Re: Italy's Gold Medal Payout Raises Eyebrows
Queen Mum
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that's not even enough for a toof
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#1727350 - 08/03/12 07:03 PM
Re: Italy's Gold Medal Payout Raises Eyebrows
Queen Mum
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And I heard there is about $5 worth of gold in the medal. I did the calculation for the gold, it is about $239, the majority of the medals are silver, which would also have some value...maybe not much if you make $20 million a year, but more than gold foil wrapped around some cheap chocolate...
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#1727358 - 08/03/12 07:10 PM
Re: Italy's Gold Medal Payout Raises Eyebrows
A_G
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Local radio station reported that the gold medals are not solid gold, they are gold plated. The silver and bronze ones are supposedly solid... But this is a local radio station, so who knows where they got their info.
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#1727369 - 08/03/12 07:17 PM
Re: Italy's Gold Medal Payout Raises Eyebrows
A_G
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According to the Olympic Charter, the gold and silver medals must each be made of at least 92.5% pure silver and the gold medal must be gilded with at least 6 grams of gold.
6 grams of gold is nothing to throw away....
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