How do Nobel laureates spend their prize money? (opens in new tab)

> Since the Reagan tax reforms of the mid-1980s, the United States, the only country to tax the [Nobel] prize, has taken another 40 percent or so off the top. (http://www.cnbc.com/id/49341627)

Really? Oh yes it's right there under "Pulitzer, Nobel, and similar prizes." http://www.irs.gov/publications/p525/ar02.html#d0e8326

Stay classy America.

Pretty sad really. I'm a boxing fan. Floyd Mayweather made over 90 million dollars in his last fight. Nobel winner - 1.25 million. Where are our priorities?

The article missed the famous quote along the lines of spending it all in Amsterdam.

The winners buying real estate need to look out for maintenance costs and taxes... better expect to spend 5% the cost of the house, or more, annually, for taxes and utilities and upkeep, so if the prize is more than perhaps 10 times your annual income you're eventually going to be in a world of hurt. I've had some relatives end up land-poor and its not a pretty sight. Here's 5 million dollars of lakefront property. Whoops he doesn't make 500K/yr.

It's nice of Obama to donate his prize money to charity, but I still cringe reading that he won the Nobel Peace Prize. Apparently, the Nobel Committee's main consideration was hope that he will do right for the world (or at least better than the predecessor). A kind of a credit, which sadly wasn't honored.

http://en.wikipedia.org/wiki/2009_Nobel_Peace_Prize

Jagland said "We have not given the prize for what may happen in the future. We are awarding Obama for what he has done in the past year. And we are hoping this may contribute a little bit for what he is trying to do," noting that he hoped the award would assist Obama's foreign policy efforts.