Jeremy Laura: Rasmussen extension, deadline thoughts and Tavares case has wide impact

Great read!

And…well…someone’s gotta foot the bill for Trudeau’s $80k+ vacations.

I was reading some of the comments by fans on IG about the Taveres situation. It really is astounding to me how many people are advocates for people paying more than half of their labor in income taxes. In the US, only 39% of Americans pay federal income taxes. In Canada, 60% of Canadians pay federal income taxes. In the US, we now have a system where 6 of 10 Americans have the benefits of being Americans, but don't have the financial burden associated with it. Canada is in a little bit better shape than we are when it comes to that. I suspect that the people who complain that athletes aren't paying their "fair share" are likely in that 61% or 40% group in their respective countries.

If you take a player in New York who makes, say $1 million a year and say they are young and have no deductions. In a 365-day year, they are working 128 days just to pay their federal tax. They work another 40 days to cover their state income tax. They work another 14 days to cover the city tax. They work 18 days to pay their agents. That's 200 days where their labor is for the benefit of the collective or others, rather than for themselves or their families. That means they are working until mid-July, not for their personal benefit, but for the collective. If that's not enough, when they play in places like NJ for away games, they have to pay income taxes on that pay, while also paying NY income taxes. None of that 182 days of labor counts the countless other taxes they pay, such as sales taxes, property taxes, license taxes, gas tax, soda tax, food tax, utilities taxes, communication taxes, travel taxes, alcohol and tobacco taxes. None of that factors in the hidden taxes they pay via import taxes, corporate taxes, insurance taxes. When you add it all up, players are generally working a full 8 months of the year, just to cover taxes and they get to live off what they make from September to December less escrow. If all of that sounds crazy, guess what? It's even worse in Toronto!

I'm not saying this to feel sorry for them, I certainly don't, and they aren't begging for food, but to point out that these players are definitely paying their "fair share" and then some. I can see why players want to play in FL or TX, that's more than a month of their labor they get to keep.

Great read!

And…well…someone’s gotta foot the bill for Trudeau’s $80k+ vacations.
- 13of39

Thanks for that! Are you serious on that figure?!!! Good Lord, I need to start booking Hotel 9s and move up from the 8s

I was reading some of the comments by fans on IG about the Taveres situation. It really is astounding to me how many people are advocates for people paying more than half of their labor in income taxes. In the US, only 39% of Americans pay federal income taxes. In Canada, 60% of Canadians pay federal income taxes. In the US, we now have a system where 6 of 10 Americans have the benefits of being Americans, but don't have the financial burden associated with it. Canada is in a little bit better shape than we are when it comes to that. I suspect that the people who complain that athletes aren't paying their "fair share" are likely in that 61% or 40% group in their respective countries.

If you take a player in New York who makes, say $1 million a year and say they are young and have no deductions. In a 365-day year, they are working 128 days just to pay their federal tax. They work another 40 days to cover their state income tax. They work another 14 days to cover the city tax. They work 18 days to pay their agents. That's 200 days where their labor is for the benefit of the collective or others, rather than for themselves or their families. That means they are working until mid-July, not for their personal benefit, but for the collective. If that's not enough, when they play in places like NJ for away games, they have to pay income taxes on that pay, while also paying NY income taxes. None of that 182 days of labor counts the countless other taxes they pay, such as sales taxes, property taxes, license taxes, gas tax, soda tax, food tax, utilities taxes, communication taxes, travel taxes, alcohol and tobacco taxes. None of that factors in the hidden taxes they pay via import taxes, corporate taxes, insurance taxes. When you add it all up, players are generally working a full 8 months of the year, just to cover taxes and they get to live off what they make from September to December less escrow. If all of that sounds crazy, guess what? It's even worse in Toronto!

I'm not saying this to feel sorry for them, I certainly don't, and they aren't begging for food, but to point out that these players are definitely paying their "fair share" and then some. I can see why players want to play in FL or TX, that's more than a month of their labor they get to keep.
- bluelineenforcer

I don’t think people understand the power that a middle class gives. When it comes to the massive salaries, I used to have zero sympathy. Then I realized, I could do my job until I was 60 or more. Some of these players won’t make it to their 30s and some not much further than that. The take home divided by the rest of your life is rife with inflation and other issues. Pre shut down about 2/3 of players were divorced after retiring. There’s half gone. Some players had small houses/condos (or big houses) in multiple states that they couldn’t sell but had families and wanted the space to stay together. I’ve met 3 millionaires. One lost everything gambling. One came from nothing and created a huge company near Redford, MI. One was an athlete. The athlete and the gambler both lost a lot. The business owner has the money, but not a moment of peace. When friends and family think they can get money from you, you lose friends and families. It’s sad.

Maybe book hotel 7and move up from Motel 6. Afterall 7 is the # of perfection!

Maybe book hotel 7and move up from Motel 6. Afterall 7 is the # of perfection!
- HenryHockey

Not really. If you go back to Israelite culture it communicates completeness not perfection.

Not really. If you go back to Israelite culture it communicates completeness not perfection.
- Minnyhock

#truth

6 is the “number of man” last I knew. My numerology course was back in 1997 so I’m a little sketchy

Maybe book hotel 7and move up from Motel 6. Afterall 7 is the # of perfection!
- HenryHockey

In all seriousness, I did see a Motel 6 once. The amenities board said it all:

Color TV available!

To me, the bigger Canadian hockey issue is enticing top players to play there, as opposed to the US opportunity in states with a zero income tax. To me, this is what the NHLPA should do… level the playing field. But I’m not pro union anymore.

I like how Yzerman is building the team. No gamesmanship. Just hardcore blueprinting on a long term winning strategy. If someone doesn’t like it, they are off the bus. Walman said it well… “I want to be where I’m wanted”. He has grown on me big time.

Can we stop for a second and be thankful we don’t have Tavares like drama? What we do have still.. different camps on Kane. But that noise is slowly fading away. I wonder why?

What happened to feds? I haven’t seen him post in so long. I can’t rub it in that I was right about Compher. Dang it.

#truth

6 is the “number of man” last I knew. My numerology course was back in 1997 so I’m a little sketchy
- Jeremy Laura

You’re absolutely correct. Man was created on day 6 of creation and appointed to work 6 days then rest. Man couldn’t that have been 5 days or less.

I have lots of memories staying at Motel 6s during my broke college years.

If I work for 40 years at $60k per year (roughly U.S. average), that's a career lifetime gross income of $2.4 million.

NHL league minimum salary is $750k, which means that it takes just over 3 years on an NHL roster full time for a league minimum player to gross what a typical American makes in an entire lifetime.

And that's not even considering the fact that, if you're good enough to play three years in the NHL, if you stay reasonably healthy you're probably going to be able to eke out a 10-15 year professional career overall between the NHL, minors, and/or Europe. Example: anyone remember Cory Emmerton? He played 2 years and change in the NHL and probably grossed something like $1.8 million for it. He left the NHL a decade ago but he's still playing in Switzerland, where the average salary is something like $200k (U.S. equivalent).

It's also not considering the fact that our 3-year NHLer will also be enrolled in the pension plan, and can access the full amount at age 62 (for a player with 3 years of service that's about $76k per year), or an actuarily reduced amount starting as early as age 45.

So any modestly successful professional hockey player with at least a couple of seasons of NHL service is smashing our average U.S. worker in lifetime earnings. To say nothing of John Tavares, whose NHL contracts have a total combined face value of $121 million. (Even with escrow losses it's still nine figures.)

Yes, our hypothetical NHLer is going to be paying a lot more in taxes and a lot more in other expenses than our hypothetical average worker. But they're also getting it all up front, which means that even our league-minimum-short-career guy is still in potentially very good shape if he's smart about living well below his means and saving/investing. He'll be in his mid-late 20s, with a stable middle class lifestyle and expenses and a couple hundred grand (at least) saved. He'll probably still need to get some kind of job, but with a good financial plan in place he might only need to work for a small handful of years (depending on how high paying it is and how much he can live on) before he can really retire for good.

Now, having said all this, the reality is that a whole bunch of ex-players really struggle financially and emotionally after their playing days for a whole host of reasons, not all of which are entirely within their control. (Family jealousy, petty squabbles, etc.) Most people regardless of income have next to no clue how to make wise financial decisions. NHL players are kids playing a game who are suddenly making millions.

I have no sympathy for millionaires who don't want to pay their taxes. I do have sympathy for people who suddenly have more money than they know what to do with and don't understand how to handle it responsibly, because no one ever taught them and now they're surrounded by moochers and bad role models. Those players have been failed by their schools, families, fellow players, their agents, the NHL/NHLPA.

I don't think it's lack of access -- I mean, anyone can go hire a financial advisor today, and it's not like financial literacy resources aren't available to players. It's more just, if nobody you trust or in a position of authority over you ever takes you aside and says to you, "hey, you NEED to do this or there WILL be consequences," you're probably just going to assume it's not a big deal until it's too late.

I'm sure all the high achieving immigrants coming to Canada from failed countries will make brilliant positive contributions to the balance sheet. They definitely won't become leeches on the government dole.

Not really. If you go back to Israelite culture it communicates completeness not perfection.
- Minnyhock

The number 7 often symbolizes completion, perfection, exoneration, healing, and fulfillment in the Bible.

The number 7 often symbolizes completion, perfection, exoneration, healing, and fulfillment in the Bible.
- HenryHockey

I'm sure all the high achieving immigrants coming to Canada from failed countries will make brilliant positive contributions to the balance sheet. They definitely won't become leeches on the government dole.
- jfkst1

North America and Europe are self destructing with open borders and climate nonsense. Grifters gonna grift.

To me, the bigger Canadian hockey issue is enticing top players to play there, as opposed to the US opportunity in states with a zero income tax. To me, this is what the NHLPA should do… level the playing field. But I’m not pro union anymore.

I like how Yzerman is building the team. No gamesmanship. Just hardcore blueprinting on a long term winning strategy. If someone doesn’t like it, they are off the bus. Walman said it well… “I want to be where I’m wanted”. He has grown on me big time.

Can we stop for a second and be thankful we don’t have Tavares like drama? What we do have still.. different camps on Kane. But that noise is slowly fading away. I wonder why?

What happened to feds? I haven’t seen him post in so long. I can’t rub it in that I was right about Compher. Dang it.
- NC_Scott

Canada is an odd construct. Largest country in the world (land mass) with the population of California (well, before the brown thumb tacks). About 40 million+ compared to 330 million in the U.S. Canadian players are paid in USD, which has killed a couple of franchises. The league needs to stop letting franchises suck up resources (we’ve talked about them) and whittle down. But, franchises are given portions of money if they fail. Not a great system. I don’t think Bettman can navigate this.

As for drama, amen! Get buy in and build a team. Nylander told everyone who would listen than when he was asked to take less, “why would I? No one else is?”

Canada is an odd construct. Largest country in the world (land mass) with the population of California (well, before the brown thumb tacks). About 40 million+ compared to 330 million in the U.S. Canadian players are paid in USD, which has killed a couple of franchises. The league needs to stop letting franchises suck up resources (we’ve talked about them) and whittle down. But, franchises are given portions of money if they fail. Not a great system. I don’t think Bettman can navigate this.

As for drama, amen! Get buy in and build a team. Nylander told everyone who would listen than when he was asked to take less, “why would I? No one else is?”
- Jeremy Laura

Thank you Jeremy… I like to learn from a Jedi.

Thank you Jeremy… I like to learn from a Jedi.
- NC_Scott

I used to love Jedi. Then they killed everyone.

Here’s a chiclet (not sure if anyone else got wind of this). A “common currency” for the continent was debated, something akin to the Euro. Was supposed to be called the Amero. I don’t know what ever happened but it would at least balance out a league that spans 2 countries.

Russia larger than Canada.

Russia larger than Canada.
- Big23Questions

Almost double.

So, I listen to Spittin' Chicklets. They had Glen Gealy on a ehile back talking about a program he runs for players during & after playing. Great stuff being done, but like all other sports, way late in the game (pun not intended). Now that financial advisors are necessary to navigate life, kids have resources. We all know that teams have a big program for kids to help them navigate the complexities of life as a professional athlete. But, there are always those (in all sports...) who go off the rails and we see them broke. From an head injury perspective, recurrent HI has devastating effects. No "class" prepares you for that. Loss of impulse control, drinking/drugging to deal with pain, etc... all part of recurrent HI. It sucks. We've all seen the horror stories. From my seat, a program that seems to have a major impact is conducted by the New Zealand All Blacks international rugby team, it's immersive and lasts a couple of weeks. They also do a base-line HI assessment so neuros can assess changes after injury. FINALLY, the Army's doing the same thing; every Soldier is being base-lined.

Pay disparity's a big issue. I've ready numerous stories about contracts, balance between Canadian & US teams, etc... No clue what the balance could/should be. Is it true that Canadian teams write contracts in consideration of the exchange rate? Believe I read that on another site a while ago.... That's something to help balance pay, but it's gotta be harder than woodpecker lips to lure players to Canadian teams..... Tavares' deal could have a profound impact on teams and players, especially those with signing bonus $$$ as the bulk of the contract. Who knows how this'll play out but it hints at the major issue with financials in the NHL ($500bn + in debt from OTT, ARI's multitude of issues and drain on other teams, etc...). The thing that concerns me is what happens when the illusionary bubble Buttman's built pops. I really dislike that guy....

Re-sign KANE. His play's had a HUGE impact on the team, he's such a sublime player and elevates those around him. Sprong's anither guy...absolutely MUST keep him. Ras surprised me. Not knowing the cap increase for next year, I wonder how much of a hit his contract will be.....and who we're letting go to accomodate him, and Mo Sides, and Rayzor, and the others....this summer's gonna be interesting.

Russia larger than Canada.
- Big23Questions

You’re right, I’m sorry, I usually put that disclaimer in. Blew it on that.

Still looking at the land and population compared to the U.S. (336 m vs 38.37m) you still have roughly the same population in just California as all of Canada. In terms of finances, travel and spacing the point remains that the you’re looking at roughly just over 10 percent of the entire population in the 2nd largest landmass. Trying to make the league function with the discrepencies in mass as well as currency in this system gets insanely difficult. Without a common currency between the two and the sparse nature of pop density there isn’t an easy answer that wouldn’t involve either a division into conferences and currency based on location

Again, apologies for the inaccuracy. I hope that seeing the numbers still helps to emphasize the point that the league is in dire straits when the currency is far off and the differences in fiscal separation in terms of taxing and fees varies so much state to state, city to city, and provincially.

interesting read from PHR this morning...........

The available options certainly shrink on the offensive front, but there is one option that could entice the Sharks at this year’s deadline. Recently positioning themselves as a deadline buyer, the Detroit Red Wings could be willing to part with prospect Elmer Soderblom for the right return. Standing at the same height as Myers, the 22-year-old prospect has scored six goals and 19 points in 41 games for the Grand Rapids Griffins this season.

You’re right, I’m sorry, I usually put that disclaimer in. Blew it on that.

Still looking at the land and population compared to the U.S. (336 m vs 38.37m) you still have roughly the same population in just California as all of Canada. In terms of finances, travel and spacing the point remains that the you’re looking at roughly just over 10 percent of the entire population in the 2nd largest landmass. Trying to make the league function with the discrepencies in mass as well as currency in this system gets insanely difficult. Without a common currency between the two and the sparse nature of pop density there isn’t an easy answer that wouldn’t involve either a division into conferences and currency based on location

Again, apologies for the inaccuracy. I hope that seeing the numbers still helps to emphasize the point that the league is in dire straits when the currency is far off and the differences in fiscal separation in terms of taxing and fees varies so much state to state, city to city, and provincially.
- Jeremy Laura

Oh no worries eh! No biggie - just wanted to put it out there as a Canadian is all.

Cheers man be well