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Padres news: Phil Mickelson cites taxes as cause for ownership withdrawal
- Updated: January 21, 2013
When Phil Mickelson withdrew his name from interest in joining the ownership group that bought the San Diego Padres in December, he cited an inability to make a long-term commitment to the organization.
But on Sunday following the Humana Challenge in La Quinta, Calif., he spoke to USA Today and said that he would shake things up in his life due in part to a changing tax situation in his home state of California and nationally, shedding more light on his motives for that decision.
“There are going to be some drastic changes for me because I happen to be in that zone that has been targeted both federally and by the state and it doesn’t work for me right now,” he said.
In California, Prop 30 was passed in November and will raise taxes in an effort to support education and school reform while a federal tax increase was passed in Washington, D.C. to avoid a fiscal cliff in December.
“If you add up all the federal and you look at the disability and the unemployment and the Social Security and the state, my tax rate’s 62, 63 percent. So I’ve got to make some decisions on what I’m going to do.”
He went on to explain that his withdrawal from the Padres’ ownership group was directly related to these issues and that he would elaborate further when he tees it up at Torrey Pines the week of Jan. 21. When asked whether or not the substantial changes would include moving out of the state or even the country, the World Golf Hall of Famer did not elaborate.
Mickelson has won the now Farmer’s Insurance Open at Torrey Pines in La Jolla, Calif. three times and has 40 PGA TOUR wins in his career, including four major championships.