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Another sad tale of money lost (1 Viewer)
- Thread starter Area51Inhabitant
- Start date
loose circuits
Footballguy
10k/month for child support with no income and nobody would have money for long
mcintyre1
Footballguy
No kidding, I saw that # and was astounded. Child support and alimony payments are just absurdly high sometimes. How the hell do you justify requiring a man to pay $11,000 a month for a child?
JuSt CuZ
Footballguy
That is an insane amount for anyone to pay. Judges love to stick it to the dudes, even if the ex-wifey is the problem.
Johnny Blood
Footballguy
Give me a break! In fact, give me 40 million dollars like McAlister earned and I'll pay that until the kid is 18.He had a guaranteed income stream for life that he pissed away on jewelry and garbage.
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JuSt CuZ
Footballguy
After 50% taxes, and 10% to the agent, it would still be 15% more of your income for child support.
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Johnny Blood
Footballguy
Seems like 13.5% by your numbers. In any case no normal adult would have a problem spending 15% of their income on their offspring so I'm not really seeing the problem there. That makes him look worse, which I didn't think was possible.
Oh no, I'm losing 13.5% of $40 million, that's guaranteed bankruptcy. lol.
Oh no, I'm losing 13.5% of $40 million, that's guaranteed bankruptcy. lol.
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JuSt CuZ
Footballguy
Sure people dont mind taking care of their kids...but you are off your rocker if you think the kid gets that money.
The old lady is taking most of that.You must not realize taxes come out before child support...and his agent dont care either about his children, he wants his cash.Do you have kids? ever been married? Also, my dad owed my mom 335k when he died...I never seen any of it and neither did she, and I still believe 10k a month is insane.No normal adult? does it really cost 10 k a month to raise a kid? no, never.
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STEADYMOBBIN 22
Footballguy
Yea, but you got the Bentley, Lambo, the Tahoe, the custom motorcycle, plus these brand new cars all require custom interiors, rims and systems. These are just some of the mandatory items.
Jewell
Footballguy
Most states use a chart for child support payments based strictly on percentage of your income. Example, 12% of your income for one child, 17% of your income for two children, and so on. They modify the percentages for really low income earners, but generally do not modify the percentages for high income earners. Once a person is no longer earning the same income, they can petition the court to modify their child support order.
gocuse3
Footballguy
Can only imagine what Cro is paying with his 309 kids
Snotbubbles
Footballguy
I have a feeling he's just hiding money to get the support payments down.
theoneandonly
Footballguy
Child support should be capped like unemployment wages!. No child and there mother need 120k a year to survive its just absurd. This just leads to gold digging women opening there legs to try to make that 10k per month for 18 years.
BaBastage
Footballguy
As with everything, there is probably more to the story.
How did he lose his money? Did he waste it on bling or did he lose his money with Bernie Madoff like 1000's of others?
$120K per year for his child may be obscene, and maybe not. $120K goes a lot further in New Mexico than it does in Manhattan.
Alimony and child support are one of those areas where both sides are known to try to cheat the other rampantly. There are just as many dead-beat dads who 'hide' their income from their wives as there are gold digging wives who never "officially" live with someone to exploit their ex husbands. (Because often with Alimony, if you remarry you lose your support.)
How did he lose his money? Did he waste it on bling or did he lose his money with Bernie Madoff like 1000's of others?
$120K per year for his child may be obscene, and maybe not. $120K goes a lot further in New Mexico than it does in Manhattan.
Alimony and child support are one of those areas where both sides are known to try to cheat the other rampantly. There are just as many dead-beat dads who 'hide' their income from their wives as there are gold digging wives who never "officially" live with someone to exploit their ex husbands. (Because often with Alimony, if you remarry you lose your support.)
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Sweet Love
IBL Representative
LOL, if any of these guys had any sense they would get a vascectomy when they hit 20 and just reverse it when they meet a "nice" girl...
Londo
Footballguy
Exactly what I was thinking. For $500 he could have saved himself one hell of a headache.
Badgers Fan
Footballguy
BobbyLayne
Footballguy
I used to do the tax returns of several high profile athletes when I worked for PriceWaterhouseCoopers in Detroit.
A couple points of information:
[*]No sports agent gets 10%. Maybe that was the norm way back, but the standard take in the NFL is 3% - and I never saw a variance. In sports with guaranteed contracts (MLB & NBA), it's sometimes 4%.
[*]I dealt with athletes from all team and some individual sports, but the NBA was our biggest source of clients; take this for what its worth (not much). I don't know the ratio of active athletes paying child support to girlfriends/random hookups versus ex-wives, but it always seemed like it was 6:1. Or 10:1. Made you sick seeing guys writing checks to 3, 4 or 6 different women a month, all getting $10K (and this was 15 years ago). Call me racist, but these guys go back into their old 'hood, and women look at them like they're a walking lotto ticket. ASIDE - not the case here, McAlister was married to his child's mother.
[*]It's true, as someone mentioned, there are no formal guidelines for high income child support cases. But the standard of reasonableness often times follows a Kansas court case in which the judge came up with what is called the three pony rule.
[*]We don't know all the facts in this case - huge holes in the story that are impossible to determine - but I have my suspicions based on his past behavior.
Regardless, he had two years to get the court ordered support reduced. Agree with others, there is nothing sad about irresponsible behavior. He made his own bed.
A couple points of information:
[*]No sports agent gets 10%. Maybe that was the norm way back, but the standard take in the NFL is 3% - and I never saw a variance. In sports with guaranteed contracts (MLB & NBA), it's sometimes 4%.
[*]I dealt with athletes from all team and some individual sports, but the NBA was our biggest source of clients; take this for what its worth (not much). I don't know the ratio of active athletes paying child support to girlfriends/random hookups versus ex-wives, but it always seemed like it was 6:1. Or 10:1. Made you sick seeing guys writing checks to 3, 4 or 6 different women a month, all getting $10K (and this was 15 years ago). Call me racist, but these guys go back into their old 'hood, and women look at them like they're a walking lotto ticket. ASIDE - not the case here, McAlister was married to his child's mother.
[*]It's true, as someone mentioned, there are no formal guidelines for high income child support cases. But the standard of reasonableness often times follows a Kansas court case in which the judge came up with what is called the three pony rule.
[*]We don't know all the facts in this case - huge holes in the story that are impossible to determine - but I have my suspicions based on his past behavior.
Regardless, he had two years to get the court ordered support reduced. Agree with others, there is nothing sad about irresponsible behavior. He made his own bed.
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