update: barry g is not rich

[lighterjobs]

pokertrails.com interview with barry greenstein:

[ QUOTE ]
Q: I’m assuming that given your status in the poker world and your obviously large bankroll, people ask you for money all the time. What was the strangest request for money you’ve received?

A: Why is my bankroll obviously so large? It’s funny that people have decided I am extremely rich because I give money to charity. When I no longer need to make money, I will stop playing in side games. I hear stories about me making lots of money in the software business. I took a huge pay cut from my life as a poker player when I took that job to help get custody of my step kids, but I had to quit because I couldn’t afford to work at a normal job.


[/ QUOTE ]

i guess putting up $5M alone to play a series of heads up matches, playing in the highest stakes poker game in the world, and donating over $2M to charity in one year and counting doesn't make you rich these days.

[jeffraider]

Wow, that's a little defensive of barryg. The fact that he has a large bankroll is "obvious" because he claims to be one of the best professional poker players in the world, and part of the "professional" part is making sure that the bankroll is adequate for the stakes he's playing. Since he plays the biggest game in the world against the best players his bankroll must be on the large side.

I think it's weird that barryg would confuse bankroll and personal wealth like that.

[sirtimo]

[ QUOTE ]
update: barry g is not rich


[/ QUOTE ]

...but he is smooth....

[trying2learn]

when he asked, "why is my bankroll obviously so large?" the interviewer should have said, "because YOU claim to have made more money than ANYONE in poker cash games over the last 10 years."

if that's true - then his bankroll is obviously large.

[trying2learn]

[ QUOTE ]
[ QUOTE ]
update: barry g is not rich


[/ QUOTE ]

...but he is smooth....

[/ QUOTE ]

however, this is a better answer. thread over.

[Yeknom58]

He's probably one of those guys who plays golf and says he sucks and ONLY shoots a 73.

[Yeti]

Hmm. What a knob.

[PITTM]

no, hes one of those guys who plays golf and "ONLY" shoots a 64.

rj

[1p0kerb0y]

[ QUOTE ]

...but he is smooth....

[/ QUOTE ]

VNH sir

[Thrahl]

[ QUOTE ]
"because YOU claim to have made more money than ANYONE in poker cash games over the last 10 years."


[/ QUOTE ]

Barry has said that so often that people actually started to believe its true.

[Neurotoxin]

I have a limited knowledge of tax laws, but doesn't the guy just deduct the charity on his taxes for a wash?

[Moonsugar]

there are limits as to % of income, so he cant deduct his full income. but he gets carryforwards to deduct v. future income if he cant use all deductions in current year.

[Nick-Zack]

[ QUOTE ]
He's probably one of those guys who plays golf and says he sucks and ONLY shoots a 73.

[/ QUOTE ]

Or he was one of those students that said they probably flunked the test but ended up getting a 96.

[Beavis68]

[ QUOTE ]
I have a limited knowledge of tax laws, but doesn't the guy just deduct the charity on his taxes for a wash?

[/ QUOTE ]

No where near a wash. If he is in a 32% bracket, and is able to write off 1million, it must means he doesnt have to pay taxes ($320,000) on that million.

[Yeknom58]

I think you got it right...

Reporter: "So how much are you worth"

Barry: "ONLY 100 mil..I can barely affort my caviar toothpaste."

[RollaJ]

[ QUOTE ]
[ QUOTE ]
update: barry g is not rich


[/ QUOTE ]

...but he is smooth....

[/ QUOTE ]

nh

[goofball]

[ QUOTE ]
[ QUOTE ]
He's probably one of those guys who plays golf and says he sucks and ONLY shoots a 73.

[/ QUOTE ]

Or he was one of those students that said they probably flunked the test but ended up getting a 96.

[/ QUOTE ]

I always wanted to kill those people. Not figuratively either, me actually killing them. My hands around neck, choking.

[David Sklansky]

Remember that Barry has been around the dot.com world. Given that, he talks like a man with about eighteen million. Pure guess.

[Easy E]

jesus, people, do more constructive things with your time.

[detroitplayer]

Seems people have a general misunderstand as to how taxes are calculated. You see in movies people spending lots of money saying "ill just write it off", but the fact of the matter is, you are in essense only getting a discount rate on whatever you're buying that is equal to your tax rate.

For instance, in a basic example... lets say you owe $30,000 in taxes. You're at a 30% rate showing a $100,000 net profit.

If you give $50,000 to charity... that doesn't mean the government now owes you $20,000 (The 30k owed with the 50k donation.) It means your taxable income goes: $100k-$50k. Your new net profit is $50k and you will be taxed 30% on your 50k rather than on 100k.

[tek]

[ QUOTE ]
jesus, people, do more constructive things with your time.

[/ QUOTE ]

I found it very interesting that David can determine someone's net worth from how they speak...In a previous thread about IQ's he stated that hecan determine someone's IQ from how they speak.

Is there no limit to DS's abilities /images/graemlins/cool.gif

[prana]

[ QUOTE ]
jesus, people, do more constructive things with your time.

[/ QUOTE ]

[Chimera]

[ QUOTE ]
[ QUOTE ]
jesus, people, do more constructive things with your time.

[/ QUOTE ]

[/ QUOTE ]

There's nothing more constructive than quoting a post and adding nothing to it. /images/graemlins/wink.gif

[Kyo Souma II]

[ QUOTE ]
[ QUOTE ]
update: barry g is not rich


[/ QUOTE ]

...but he is smooth....

[/ QUOTE ]

http://www.adonisprecision.com/imghost/timoavatar.jpg

Sir, you can't bet that. Those are chocolate coins.

-kyo

[Jeff W]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
jesus, people, do more constructive things with your time.

[/ QUOTE ]

[/ QUOTE ]

There's nothing more constructive than quoting a post and adding nothing to it. /images/graemlins/wink.gif

[/ QUOTE ]