More in the cross-post on the MRC's NewsBusters blog.
On Wednesday’s NBC Today, co-host Matt Lauer and his colleagues were aghast Team USA’s Olympic champions would be forced to pay taxes on their winning medals. Lauer proclaimed: “Like other medalists, Michael [Phelps] receives a cash bonus for all the hardware. Guess what? He’s gonna have to pay taxes on every single medal and every single bonus. It's called the victory tax.”
He continued: “And because the medals and bonuses are considered income, you pay taxes. So Michael could end up paying $55,000.” Fellow co-host Hoda Kotb was incredulous: “What?” Weatherman Al Roker declared: “That's crazy.” Lauer asked: “Thumbs up or thumbs down for the taxes?” The Today cast and the crowd behind them all booed loudly. Roker replied: “Thumbs down!”