<blockquote><b>Quoting TheNuge:</b>" Interesting. If i bust my ass to earn 1M the government takes more than half but if 1M falls into my lap I get to keep it all."</blockquote>




Correct. One is earning and one is gambling and the Goverment here do not tax any other type of gambling. Winnings in Casinos, Bingos, Betting Shops, Online, etc, etc, etc isn't taxed so why the lottery should be any different? Does your Goverment tax every single type of gambling in your country or do they reserve that just for the lottery?

Quoting TheNuge:" Interesting. If i bust my ass to earn 1M the government takes more than half but if 1M falls into my lap I get to keep it all."

Ass backward, right? lol

Quoting xTJ:" <blockquote><b>Quoting TheNuge:</b>" Interesting. If i bust my ass to earn 1M the ... [snip!] ... different. Does your Goverment tax every single type of gambling in your country or do they reserve that just for the lottery??"

Yup. Gambling winnings are taxed by the federal government. You must report the income and i believe casinos cooperate in the government getting the money when the winnings are over a certain amount.

Quoting Destinite:" Ass backward, right? lol "

yes. It certainly make you think about our systems.

<blockquote><b>Quoting TheNuge:</b>" Yup. Gambling winnings are taxed by the federal government. You must report the income and i believe casinos cooperate in the government getting the money when the winnings are over a certain amount."</blockquote>


Well then I can see how it is perfectly acceptable if all gambling is taxed and therefor it should be taxed at the same rate, whatever that may be. Here no gambling whatsoever is taxed so taxing the lottery would make no sense and you wouldn't be allowed to tax just it anyway, legislation would have to be brought in to tax all gambling.

Quoting xTJ:" <blockquote><b>Quoting TheNuge:</b>" Yup. Gambling winnings are taxed by the federal ... [snip!] ... make no sense and you wouldn't be allowed to tax just it anyway, legislation would have to be brought in to tax all gambling."

Yes, i see the "all or nothing issue."
Do you think it's ass-backwards to tax work and not luck?

<blockquote><b>Quoting TheNuge:</b>" Yes, i see the "all or nothing issue." Do you think it's ass-backwards to tax work and not luck?"</blockquote>




I think there is a lot more ass backwards in regards to tax than to be worried about that. I'm much more concerned about "inheritance tax". Here if your Mother/Father dies and they leave you money/property/anything it is taxed. If your Mother died and left you her £300,000 house for instance you would be taxed on that and it is something ridiculous like 55-60% so they would need to sell the property and give more than half the sale over. Or if your Mother was to give you that same amount whilst still alive there would be a kind of gift tax with the same amount of tax applying. I'm much more concerned about parents working all their lives and leaving money they earned and have already been heftily taxed on to their children for more than half of it to be taken or be forced to sell the family home or expensive sentimental family possesions to pay the tax due on them than to care less on wether or not someone is taxed on winnings.

If you hit a jackpot in a casino that is over 1199 then you have to pay taxes..

<blockquote><b>Quoting xTJ:</b>" <blockquote><b>Quoting TheNuge:</b>" Yes, i see the "all or nothing issue." Do ... [snip!] ... sentimental family possesions to pay the tax due on them than to care less on wether or not someone is taxed on winnings."</blockquote>




Yes, inheritance tax is ridiculous. Obama plans on doing something similar here soon. It's awful.

Quoting TheNuge:" <blockquote><b>Quoting xTJ:</b>" <blockquote><b>Quoting TheNuge:</b>" ... [snip!] ... Yes, inheritance tax is ridiculous. Obama plans on doing something similar here soon. It's awful."

Don't we already have an inheritance tax?

<blockquote><b>Quoting mamaluvsher4babies:</b>" Don't we already have an inheritance tax?"</blockquote>




Yes. It's about to go way up. So, farmers/ranchers that pass down big properties to their non-rich children will have to be liquidated.

Quoting TheNuge:" Yup. Gambling winnings are taxed by the federal government. You must report the income and i believe casinos cooperate in the government getting the money when the winnings are over a certain amount."

Not necessarily. Well, it depends. At the casinos here (all on Indian land), Indians don't get taxed on casino money if they hold an Indian card or live on the rez. Everyone else gets taxed over $1999 in winnings in a year, but you can deduct your losses.

Quoting TheNuge:" <blockquote><b>Quoting mamaluvsher4babies:</b>" Don't we already have an inheritance ... [snip!] ... about to go way up. So, farmers/ranchers that pass down big properties to their non-rich children will have to be liquidated."

Don't forget the 401k's! And, the increase in the alternate mininum tax and the increase in overall tax.

I heard that France just went to 75% tax on their highest income earners and that Russia is talking about lowering energy taxes. Something just isn't right here.

http://www.bbc.co.uk/news/world-europe-19754016

http://www.bloomberg.com/news/2012-02-20/russian-oil-boom-s-end-means-lower-tax-that-risks-unrest-energy.html