Burn Some Cash 2: Jerod's Ghost

[Ross12]

I could be wrong but i think the general feeling around the league is ne is in a good situation for the future so it should overall be an ok destination even with the negatives factored in. At the least its miles ahead of last year at this time.

Based on stuff ive heard in the media and from reading other teams message boards after the vrabel hire people seem to feel like we’ll be back in the hunt sooner than even we think.

This summarizes things well - between Vrabel, Maye and an overall very experienced and competent coaching staff, this is now a destination that free agents should expect to be able to both A) win games and B) get paid. They won't be title contenders in a year's time but there's reasons to be optimistic that they can turn things around and potentially be a playoff team, and also get paid very good money at the same time.

 

[InRodWeRust]

Turns out Kraft's pennies melted instead of burned.

 

[Ross12]

I also think this thread title is misleading. This makes it sound like someone (i.e. Vrabel) made another "burn some cash"-esque comment. In reality it is an unaffiliated league reporter just guessing that they will be active in free agency, which is not exactly a shock when they have the most cap space in the league.

 

[PaulThePat]

Did we ever "weaponize" the offence? Apologies, if I missed it.

 

[Hyped]

I had a chat with Chat GPT....some of my findings:

1.) The Millionaire tax in MA is basically 9% vs. other tax free states like Florida, Tennessee, and Texas.

2.) It is possible for a player to establish residency in FL, TN, and/or TX...and only spend 182 or less days in Massachusetts...which is the exact number of dates a player would need to spend in MA for: June mandatory mini-camp (about 4 days), training camp/pre-season (about 42 days), 9 home games (about 59 days, assuming that following one Thursday Night home game, said player goes home from Fri-Tues), and 2 home playoff games (about 14 days) = 119 days give or take....maybe more for other things.

3.) A Patriots QB making 40M annually on average would pay a tax of about +3.6M vs. the Dolphins' QB also making 40M....when assuming said player lives in Massachusetts. If said player lives in Florida....they would only be subject to the jock tax (tax on games played in MA, not on the road)...their tax liability would drop by about 50%.

4.) There are other options like paying a guy a 50M signing bonus before he is even a Patriot....and thus have that money paid to said player in a tax free state.

 

[mike_usagisan]

I had a chat with Chat GPT....some of my findings:

1.) The Millionaire tax in MA is basically 9% vs. other tax free states like Florida, Tennessee, and Texas.

2.) It is possible for a player to establish residency in FL, TN, and/or TX...and only spend 182 or less days in Massachusetts...which is the exact number of dates a player would need to spend in MA for: June mandatory mini-camp (about 4 days), training camp/pre-season (about 42 days), 9 home games (about 59 days, assuming that following one Thursday Night home game, said player goes home from Fri-Tues), and 2 home playoff games (about 14 days) = 119 days give or take....maybe more for other things.

3.) A Patriots QB making 40M annually on average would pay a tax of about +3.6M vs. the Dolphins' QB also making 40M....when assuming said player lives in Massachusetts. If said player lives in Florida....they would only be subject to the jock tax (tax on games played in MA, not on the road)...their tax liability would drop by about 50%.

4.) There are other options like paying a guy a 50M signing bonus before he is even a Patriot....and thus have that money paid to said player in a tax free state.

Oh fun, now do it for the three teams in California that don't seem to have a problem attracting free agents. Or the team in New York. Or the two in New Jersey. Or the one in Minnesota.

 

[Steve102]

Oh fun, now do it for the three teams in California that don't seem to have a problem attracting free agents.

Come live in NH... no tax.

 

[mike_usagisan]

Come live in NH... no tax.

You're taxed where you work, so I understand the concern about Massachusetts taxes, but there are a number of primo destinations that are also heavily taxing millionaires. I think this is an argument that gets blown out of proportion every time we talk about free agents.

 

[Ross12]

You're taxed where you work, so I understand the concern about Massachusetts taxes, but there are a number of primo destinations that are also heavily taxing millionaires. I think this is an argument that gets blown out of proportion every time we talk about free agents.

I think the difference is that MA specifically has an extra tax for millionaires, on top of their already high tax rates which is unique. It is not the end of the world but it is something to consider.

I believe @Steve102 has the best solution - establish primary residency in NH to avoid this. Or, alternatively, live in NH during the season and then live in a low-tax or tax-free state during the offseason.

 

[maust]

Quite frankly, I won't believe it until it happens.

And maybe not even then...

 

[mike_usagisan]

I think the difference is that MA specifically has an extra tax for millionaires, on top of their already high tax rates which is unique. It is not the end of the world but it is something to consider.

I believe @Steve102 has the best solution - establish primary residency in NH to avoid this. Or, alternatively, live in NH during the season and then live in a low-tax or tax-free state during the offseason.

The highest rates in each high-tax state:
Massachusetts is 9% (this includes the millionaires tax)
California is 14.4%
New York is 10.3%
New Jersey is 10.75%
Washington DC (though I don't think it applies unless the team moves out of Maryland) is 10.75%
Minnesota is 9.85%

It's cheaper for millionaires to work for the Pats than 7-8 other teams.

 

[Ring 6]

The question for me, as I explained to arch, is whether Vrabel & Drake are enough to significantly move the needle for FAs, or is New England still too undesirable due to taxes, weather, nightlife, etc. I really don't know how it's going to pan out. If they can't get FAs to sign, they won't be burning through much cash.

They could have signed more players last year, they chose not to. They were connected to exactly one free agent who chose to go elsewhere.

 

[Ring 6]

Why would it? It's a different, easier schedule (for once) and it's a whole new coaching staff. Will there be growing pains? Yup. I also think that Vrabel and Drake will be attractive enough for free agents as well as, you know, money.

Kraft has to be willing to spend the money.

 

[maust]

Come live in NH... no tax.

You're taxed where you work...

Ahh Mikey, Steve didn't actually mean it. He doesn't really want any more people moving where he lives. Hell, he's probably trying to figure out a way to get all the Massholes that moved there in the past decade the hell out.

 

[Vindicate]

You seem to have missed the point of my post. The question is will history repeat itself? Will Vrabel and Drake really make a different, or is New England still so undesirable a few million more per year won't make a difference for prime FAs?

See above. They had the most last season, and that didn't pan out, did it? The Giants outpaced them.

Yes. They now have a competent QB, a known commodity in coaching, and an OC that can get his WR open and let them actually build a resume for their future contracts.

This season is drastically different. Way less unknowns. Which is interesting to say given that there are more unknowns than we're used to, but still - compared to last year, you have some foundation on which you can hold faith. There was absolutely ZERO reason to sign with the Patriots last season, particularly if you wanted to build up a resume for future seasons.

 

[Pape]

Ahh Mikey, Steve didn't actually mean it. He doesn't really want any more people moving where he lives. Hell, he's probably trying to figure out a way to get all the Massholes that moved there in the past decade the hell out.

They moved to New Hampshire as well?

Both New York and Massachusetts have colonized Rhode Island... buncha miserable motherhumpers... you people need to learn how to ****ing drive too... THE LEFT LANE IS FOR PASSING - NOT SIGHTSEEING... no offense to the massholes and new yawkas who may be offended by my deliberately posted insults...







but really, get the eff out of the passing lane... I don't care if you have to make a left turn some 5 miles down the road...

 

[maust]

They moved to New Hampshire as well?

Both New York and Massachusetts have colonized Rhode Island... buncha miserable motherhumpers... you people need to learn how to ****ing drive too... THE LEFT LANE IS FOR PASSING - NOT SIGHTSEEING... no offense to the massholes and new yawkas who may be offended by my deliberately posted insults...







but really, get the eff out of the passing lane... I don't care if you have to make a left turn some 5 miles down the road...

My Dude, better there than here. My wife is a native Maineiac and we always spent a good portion of our recreational time here. When we first retired we moved to a home in Cape Elizabeth we'd bought for the purpose years before and rented out. That didn't last long, it was a great house and primo location and but once we lived there full time we realized the place was infested with Yawkas. We built a year round home where our summer place was and we've been here ever since. The natives 'round here aren't the most aware of drivers and I need to be damn mindful of it when I'm out on the motorcycle but it's nothing compared to what happens every damn summer. The Yawkas and Cretinicuts show up and then the driving gets really 'interesting'

 

[archstanton543]

You're taxed where you work, so I understand the concern about Massachusetts taxes, but there are a number of primo destinations that are also heavily taxing millionaires. I think this is an argument that gets blown out of proportion every time we talk about free agents.

Income tax (and the Millionaire's Tax) is theft.

 

[Force Zero Boomer]

They will. I sense there will be a trade or trades that net us a premier player or 2.. in 2021 We were able to get guys here and this was while we still had Cam Newton as the QB . Last season was hard to sell guys on a first time HC and Brissett as the starter.

Maybe a trade for or FA signing of a top player will open the floodgates? Maybe that's key.

 

[Force Zero Boomer]

I also think this thread title is misleading. This makes it sound like someone (i.e. Vrabel) made another "burn some cash"-esque comment. In reality it is an unaffiliated league reporter just guessing that they will be active in free agency, which is not exactly a shock when they have the most cap space in the league.

Dude, how else am I supposed to get eyeballs?