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People who win big prizes shouldn’t get taxed when they give their windfalls away

  • Written by Ellen P. Aprill, Professor of Law; John E. Anderson Chair in Tax Law, Loyola Law School Los Angeles
People who win big prizes shouldn’t get taxed when they give their windfalls awayObama's Nobel Peace Prize ceremony in OsloAP Photo/John McConnico

When former President Barack Obama won the Nobel Peace Prize in 2009, he didn’t keep the approximately US$1.4 million, converted from Swedish currency, that came with it. Instead the Nobel Prize Foundation transferred the money directly to Fisher House, a nonprofit that houses...

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