Sunday, February 24, 2008

Joe Louis America's Hero...Betrayed








Not sure if everyone watched the Joe Louis special that was on HBO yet, but if you haven't please do. I watched and I have to admit it was pretty sad how he was treated. He was a hero in boxing especially when he beat Max Schmeling but when he went to the service they really did not treat him right. He donated his purses to the service which was not tax-deductible. What that means is even though he never kept the money at all he was taxed on it as if he consumed it personally. He was also taxed for the money he spent to have the troops come to his fights. These are things we consider today as donating to charity meaning we receive deductions on our taxes. For those two reasons that is how Joe Louis amassed such a high tax bill which only got higher as years went on. As you know once a fighter falls from his peak, his skills diminsh as well as the money he can demand for fights. The documentary was a great one and I tip my hat off to HBO for getting the highly untold, unknown story of the great Joe Louis. If you have not seen this documentary please check your listings on HBO to watch it. It is well worth it.

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