Olympians don't make the kind of money most athletes do. Unless you're Michael Phelps, most Olympians receive a lower class income during training and have to work other jobs to support themselves. Many have to save up and even setup gofundme pages just to go to the Olympics. Let them get their prizes tax free. They are still taxed on their income and any corporate sponsorships - we're just saying remove the tax of their medal prizes, which is $25k for gold, $15k for silver, $10k for bronze. None of which is enough for a year's wage.