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#1
04-19-2005, 02:28 AM
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Taxes
I think part of the reason people don't like paying taxes on poker winnings is it all ready feels like we paid taxes via the rake.
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#2
04-19-2005, 03:32 AM
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Re: Taxes
I'll use astroglide's example.
You work, your employer hands you your paycheck. He's already removed income tax from your paycheck. You then go buy a CD and pay tax on it. You just got double-taxed. Person selling CD uses profits goes to a deli to buy a sandwhich and is charged sales tax again, etc. etc. etc.
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#5
04-19-2005, 04:00 AM
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Re: Taxes
[ QUOTE ]
I think part of the reason people don't like paying taxes on poker winnings is it all ready feels like we paid taxes via the rake. [/ QUOTE ] I think it's because people like money and want to keep it for themselves rather than give it to somebody else.
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#6
04-19-2005, 11:01 AM
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Re: Taxes
[ QUOTE ]
I think part of the reason people don't like paying taxes on poker winnings is it all ready feels like we paid taxes via the rake. [/ QUOTE ] I think its because its an unfairly applied tax. If you could just net your winning and pay on that, cool. But this--screw you out of your standard deduction, see if we can hit you with the AMT, mess with your ability to contribute to retirement vehicles, mess with your threshold for itemized medical deductions, require you to keep daily records and add and subtract hundreds of items--crap is a real drag on the otherwise honest player's incentive to pay taxes. --Zetack
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#7
04-19-2005, 11:15 AM
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Re: Taxes
[ QUOTE ]
[ QUOTE ] I think part of the reason people don't like paying taxes on poker winnings is it all ready feels like we paid taxes via the rake. [/ QUOTE ] I think its because its an unfairly applied tax. If you could just net your winning and pay on that, cool. But this--screw you out of your standard deduction, see if we can hit you with the AMT, mess with your ability to contribute to retirement vehicles, mess with your threshold for itemized medical deductions, require you to keep daily records and add and subtract hundreds of items--crap is a real drag on the otherwise honest player's incentive to pay taxes. --Zetack [/ QUOTE ] word.
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