- Anthony Davis’ new $186 million contract extension was broken down in terms of how much tax he would have to pay
- Giannis Antetokounmpo took the opportunity to make fun of the taxes NBA players have to pay
- He mocked FICA as well as the Jock Tax in particular
Giannis Antetokounmpo is as funny as they come, he has dominated the ‘dad joke’ space in the NBA for many years now. The Milwaukee Bucks superstar and two-time MVP have now found a new target – taxes on NBA salaries.
NBA players have started getting contracts worth more than $60 million a year, but they get to keep just about half of that. And following a tax breakdown of Anthony Davis’ new 3-year extension with the Lakers, the 28-year-old took some shots at the system.
“Who the hell is FICA and Jock can they hoop?” Giannis hilariously said on social media. The man himself was paid $42.4 million last season and likely got just under half of that, so his cheeky frustration is understandable.
Who the hell is FICA and Jock can they hoop? https://t.co/2p72jRkpND
— Giannis Antetokounmpo (@Giannis_An34) August 5, 2023
The original post showed that despite making $62 million every year, Anthony Davis would only have $24 million left in hand following all the taxes. Giannis and other NBA superstars being frustrated with these things is understandable considering how much they give up in taxes.
And even though he asked jokingly, to answer Giannis’ questions, FICA is the federal payroll tax in the United States Of America. The Jock Tax is a bit more complex, but simply put, it is that tax that earning individuals pay to other states if they earn money there, which applies to all NBA players. And no, neither of them can hoop.
NBA Players Makes Less Than Half The Amount They Are Paid As Per Their Contract
Getting paid $200 million or $300 million over four or five million sounds like incredible money, but it’s never that simple. Depending on the state they live and play in, NBA players can pay more than half of their yearly salary in taxes and fees.
For example, Jaylen Brown just signed the richest deal in NBA history worth roughly $60 million per year, and will earn closer to $24.5 million annually.
He isn’t the only one, similar breakdowns show that other stars like Nikola Jokic and Tyrese Haliburton are also examples of players not making nearly as much as they are reported to. It still amounts to over $100 million in five years, which is generational wealth by just about anyone’s standards.
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