. >> one problem the usoc didn't like the word olympics. would they give a (bleep) about people having fun in a field. >> they need to prevent confusion. people might think the red neck olympics is somehow associated with the united states olympics. >> right people without a tv or internet connection or eyes or a brain would definitely think that. >> it's possible, sure. >> what are the red neck olympics supposed to do. >> change their name from olympics. >> to what? >> red neck games. >> it's taken. it's when you beat a man to dwet a cat fish. sew changed it to red neck blank. would people know what that sneens he needed my help. i'm going give you all the pomp and circumstance of an nbc-style coverage. >> i don't know what the hell you just said. >> i'm img to cover the games for you. >> yeah? >> full "the daily show" production team all their might behind you. >> yeah. >> all right would you just act like i just moved you. maybe tear up, something. ♪ (bleep) we'll edit in post. ♪ welcome to the 2012 red neck blank live from hebron, maine

winners get a little known cash prize from the usoc. $25,000 for gold, $15,000 for silver and $10,000or bronze. but, the irs taxes the value of the medal as well as that cash prize. the rate can be as high as 35%. the move is not sitting well with athletes past and present. >> i don't think that there should be any taxes on any olympic gold medals, to me it tarnishes it. >> politicians here in washington agree. senator marco rubio introduced a bill to eliminate the tax on american olympic athletes. >>> coming up next, howard? >> yeah, jc steamy out here. we're going into the 90s today. and i'll tell you about the threat for some storms not only today but over the next seven days. good news on the allergy front. if you've been bothered the last few days i'm happy to tell you everything is come up low on this thursday afternoon. we'll be back with the seven day forecast and a great cocker spaniel probably retriever mix. when 9news now at noon returns. >>> howard says it is going to be hot today. >> already is hot. as you've been in here i was out on the weather terrace and we're in the

the usoc, the united states olympic committee, pays its athletes when it wins medals. phelps, he's earned about 2 million before these london olympics. but that pales in comparison to his endorsement money. last year, about $10 million from all sorts of endorsements. so michael phelps, the big number, obviously, is endorsements. but, really, on this day, the big number is 19, which is the record amount of medals he's won in his career. for michael phelps, let's turn our attention to a local swimmer. scott wells from san jose went to bellerman prep in san jose and then to uc davis. he once worked as a car salesman to make ends meet and now he's here in the olympics looking for medal number one. scott wells will compete in the 200 meter breaststroke. and did you hear about the black eye? a couple weeks ago, abbey sent out this picture showing her black eye. she got sucker punched over the weekend. sweet redemption for abbey. she scored the lone goal in team usa's victory. now, for the other big story. everyone buzzing about team usa gymnastics, yes, already, the nickname

our olympic, i ioc usoc doesn't pay our people to be professional athletes. other countries do. these are going to end up be professional athletes. >> andrea: they shouldn't. china says no, we don't sponsor the athletes. the russians started sponsoring them as p.r. stunt to show the world that socialism was a good thing. we know how that turned out. now these pictures, eric, these aren't as bad. these remind me of my gymnastics class. but there are other pictures out there on the web that show -- this is okay. >> kimberly: that one looks terrible. >> andrea: no, that looks like -- hold on. this actually looks like a typical gymnastics class. but there are other pictures throughout that show the kids looking like they have been fortureed. hard work one thing. but kids should not be having their knuckles crack. some of my coaches were pretty tough. >> eric: the point, here is the point. the u.s. olympic committee makes a ton of money. there is a lot of money coming in from the sponsorship and whatnot. the athletes don't get a penny of it. >> kimberly: unfair. >> eric: they do. >>

that comes from the usoc and usa swimming. also she'll split a pot of money for those relay teams.ear-old that's a good chunk of change. but she represents the dilemma. do you cash in in your moment or do you wait and risk, maybe e i. it's a question we used to ask of high school basketball players. do you leave now and take the money or go to college and risk it. that's what she's deciding right now. >> willie, thank you. great piece of work. willie geist here with us. >>> up next, the path os, the pain, the suffering, the mosquito bites, the cold water in the lake. what those kids say in those letters home from summer camp. the kind of brutal honesty you can't find anywhere else. [ music playing ] [ music playing ] yeah go hide. one, two... [ son ] come and find me! three! [ male announcer ] bite-sized chicken's grown up. new kfc bites. freshly hand-breaded in the colonel's original recipe. try 10 bites with an 8 piece meal for $19.99. today tastes so good. >>> you're watching "rock center." we're live here at studio 3-b in new york. stay tuned for our investigation of a network

usoc. $25,000 for gold, $15,000 for silver and $10,000 for bronze.ympian taking home a medal will take an iou to the irs. they're taxed on the value of the medal and the cash at a rate that can be as high as 35%. at an olympic alumni party, former gold medal winners say uncle sam isn't playing fair. >> you got every athlete who is going to fight along with them. because it's ridiculous. >> there could be big bills for the big winners. americans for tax reform which released the report, missy franklin could owe $21,500. ryan lochte, $23,000. and then there's michael phelps. the most decorated olympian of all-time. >> he could be facing a tax bill easily over $100,000 by the time these games are over. >> diver pat mccormick is outraged. she won four gold medals back-to-back in 1952 and '56. >> i don't think that there should be any taxes on any olympic gold medals. >> some politicians in washington agree. on wednesday, senator marco rubio introduced a bill to eliminate the tax. these olympians who dedicate their lives to athletic excellence should not