From CNBC television:

In the U.S., gold medal winners get $25,000, $15,000 for silver and $10,000 for bronze. This is not government money, its paid by the U.S. Olympic Committee.

Potential GOP Vice Presidential candidate Senator Marco Rubio (R-FLA) has sponsored a bill that medal winning U.S. athletes shouldn't have to pay taxes on the money they receive.

Taxes on a gold medal could run as high as $8,986, while silver could be $5,385. On a bronze metal, the tax might be $3,500.

However if you're from the bankrupt country of Italy, you get over $180,000 when you earn a gold medal!