PF Question re Powerball

Discussion in 'Political Opinions & Beliefs' started by Phoebe Bump, Jul 24, 2013.

  1. Phoebe Bump

    Phoebe Bump New Member

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    There is a private sector in Tanzania. And almost no government or infrastructure. How many billionaires and millionaires has Tanzania produced? And you statement about governments not producing anything would be comical if it wasn't so hilarious.
     
  2. Libhater

    Libhater Well-Known Member

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  3. submarinepainter

    submarinepainter Well-Known Member Past Donor

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    Well you can't get there from here.
    Bert and I would say why they need all dem there taxes when those gubermint slugs just waste them like a New Yorker eating a Lobster
     
  4. FreshAir

    FreshAir Well-Known Member Past Donor

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    nope, I would just be happy I made so many $$$, I wouldnot feel I needed to be rewarded with huge tax cuts because I made so many $$$
     
  5. stekim

    stekim New Member

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    If you are a professional gambler then you would be considered "self employed". If you take a trip to Vegas and make a few bucks it's just income and you would only pay the income tax.
     
  6. Troianii

    Troianii Well-Known Member Past Donor

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    No, I wouldn't because the about 390m remaining is more than I would need. But sure, the government taking 'earnings' off a gambling system (general illegal for the private market) when it already profits off it before taxing it makes perfect sense.

    The lottery is a revenue system for the government that, by design, is a tax on the poor.
     
  7. FreshAir

    FreshAir Well-Known Member Past Donor

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    easy to change that, make only winnings over say 100k taxable
     
  8. Troianii

    Troianii Well-Known Member Past Donor

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    you don't understand my meaning (though what you propose would, in fact, fix most of the issue). The problem is that, in most lottery systems in the US, sales are greater than winnings, meaning that before any taxes are collected, the state is making a profit. Then it just gets the 'windfall' from taxing winnings.

    now it's as easy to say "make only winnings over 100k taxable" as it is to say, "make winnings on state-sponsored lottery systems untaxable," but try getting either of those proposals actually passed.
     
  9. johnmayo

    johnmayo New Member Past Donor

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    Oh OK, cool. I will be a infrequent gambler when I win, and then go pro so I can start deducting that $1 ticket. :)

    A guy can dream...
     
  10. Draco

    Draco Well-Known Member

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    This, and then go buy a few boats, houses, cars and planes and laugh at the taxes I paid on those as well.

    In all honesty though that is almost an un-spendable amount of money. Prolly buy my toys, then give all but 20 mill to charity so my family was set up forever.
     
  11. Draco

    Draco Well-Known Member

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    Wow, if ever there were an apples oranges comparison on Pf, this is it.

    Kinda like a what came first argument, chicken or egg.

    US infrastructure is strong because private enterprise gave it the funds to do so. US infrastructure allows more private enterprise to grow, therefore giving even more back to the system.

    It's a symbiotic relationship and it boils down to the people, not the government
     

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