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Taxation is the worst enemy of the future of poker Taxation is the worst enemy of the future of poker

01-22-2015 , 07:24 AM
Quote:
Originally Posted by VP$IP
Please explain how inheritance taxes are justified. Wasn't it already taxed once as income?
If I work shovelling **** for low pay I pay tax.

If I get paid for being the son of I should pay no tax?

All your income has been taxed before. My employers customers have paid tax, the firm pays tax, I pay tax.

An inheritance is really just income for being who you are, related to someone who is paying you for being related. To be honest I'd rather the **** shoveller got the tax break at least he is doing something useful.
Taxation is the worst enemy of the future of poker Quote
01-22-2015 , 07:26 AM
Quote:
Originally Posted by kaby
Somalia might be doing better than you think.

"Could anarchy be good for Somalia’s development? If state predation goes unchecked government may not only fail to add to social welfare, but can actually reduce welfare below its level under statelessness.
Such was the case with Somalia’s government, which did more harm to its citizens than good. The government’s collapse and subsequent emergence of statelessness opened the opportunity for Somali progress. This paper investigates the impact of anarchy on Somali development. The data suggest that while the state of this development remains low, on nearly all of 18 key indicators that allow pre- and post-stateless welfare comparisons, Somalis are better off under anarchy than they were under government. Renewed vibrancy in critical sectors of Somalia’s economy and public goods in the absence of a predatory state are responsible
for this improvement."

http://www.peterleeson.com/better_off_stateless.pdf

"Far from chaos and economic collapse, we found that Somalia is generally doing better than when it had a state"
http://www.bbc.com/news/world-africa-17080664
So piracy and extortion by terror pays the bills, great.
Taxation is the worst enemy of the future of poker Quote
01-22-2015 , 11:39 AM
If you didn't read why bother replying?
Taxation is the worst enemy of the future of poker Quote
01-22-2015 , 02:12 PM
Quote:
Originally Posted by bumpnrun
Here's a simple fact for you. If you really gave a damn about the alleged atrocities committed by the state, and wanted to make a statement against that by not paying tax, you would instead ship every tax dollar to the people marginalized by said evil states actions.
For just the cost of a cup of coffee, people like you can stop the most powerful military in history.

No, seriously though...


National Defense Authorization Act


Funding terrorists or anything that has >.0001% chance of being construed as it, bad idea.
Taxation is the worst enemy of the future of poker Quote
01-22-2015 , 02:47 PM
Quote:
Originally Posted by Gap23Razor
"No Taxation without Representation" a poplar slogan at the time of the American Revolution...it was a protest against British taxes on colonial commerce without colonial voting in British parlement...that slogan is ingrained in the American mindset even to this day

often the corollary is true too...."no representation without taxation"...indeed, of the top 10 oil exporting countries in the world, only Norway, Canada and the US are democracies...the rest are totalitarian governments--who needs their populace to pay for a government if the natural resources pay the bill?

ergo, taxation is the price of freedom and democracy
That's interesting. It might follow that the willingness to pay taxes is directly related to the perception of freedom and democracy. That's supported from what I've read by overall attitudes in high tax Scandinavian countries. Even in this thread it seems pretty easy to see how at least anecdotally the attitudes of posters from more moderate, social welfare oriented democracies seems to diverge from the Muricans.
Taxation is the worst enemy of the future of poker Quote
01-22-2015 , 03:44 PM
Quote:
Originally Posted by BitchiBee
why are you so righteous about this tax thing. Paying taxes is equivelent to getting stolen from, I would not wish that on anyone
i always love to hear the responses from randoms that i dont pay any tax. it helps show who the truly spiteful people are. yes i feel like they are stealing from me, exactly. i prefer my charade of appearing to be absolutely dirt poor.

"oh oh i hope you get caught!" and i just laugh and laugh because thats how bad our system is.

Quote:
Originally Posted by chuckiegolf
So you are a liar and a cheat. I bet you cheat at poker too, because if you don't cheat you are a sucker............
I bet you would be wrong, you ignorant ****.

Last edited by WateryBoil; 01-22-2015 at 03:49 PM.
Taxation is the worst enemy of the future of poker Quote
01-22-2015 , 07:34 PM
Quote:
Originally Posted by BitchiBee
why are you so righteous about this tax thing. Paying taxes is equivelent to getting stolen from, I would not wish that on anyone
Fair point. I'll take your post more seriously. The trouble with your links in the context of this debate is that they show that the choice is tax OR being stolen from.

The stuff on live animal exports and the khat trade is interesting but there is no secret about how they transport goods across the different areas controlled by armed militias or terrorists, they pay them bribes or tithes and they let them through.

The result is trade being skimmed by terrorist gangs. A huge protection racket with armed gangs replacing the role of the state in many areas. Mexican drug cartels have some pretty efficient logistics too, they make billions and they duck their taxes. Such efficiency in extracting money from trade for the head of an armed gang is still terrible when like in Somalia that armed gang is built around a tribe that gets a cut of the stolen money.
Taxation is the worst enemy of the future of poker Quote
01-26-2015 , 08:12 AM
Quote:
Originally Posted by News777
All of this is so true. Very similar to a gambler who plays slots in a casino. He might get lucky and win one year and lose the next yet all he can do is zero out his wins and losses in the losing year. He can't write off his losses. Many progressive countries don't tax gambling winnings. They already make plenty of money taxing the casinos on money that is wagered.
Not having to pay taxes on lucky gambling winnings encourages more people visit the casinos or play a lottery. What's even worse in the US is gambling winnings because they have to be reported increase a retirees Medicare payment. Even if they are net loser they just treat the gross winnings in figuring Medicare income. The increase can be as much as $300 a month. How ridiculous is that. You lose money gambling in a casino where that money is taxed and now the government penalizes you because they only look at your 1099's and don't care that you lost all that back plus more.
I'm surprised how few Americans get this. Lots of REC's don't realize they are not playing enough volume to overcome yearly variance. It's even worse for Roulette gamblers who are actually losing anyway.
Taxation is the worst enemy of the future of poker Quote
02-23-2015 , 03:16 PM
Hi, I have some tax questions and I don't know where to post.
I won a smaller tournament ($250bi) in 2,014 where first place paid $5,200 in which they issued me a W2 that day in person.
I've also made a few more tournament cashes the highest being $1200, but none issued me a W2.
I have not received anything in the mail.
My total tournament earning last year were $8,342 and I live in Florida.
I have kept all of the tournament buy in receipts and they total over a few thousand.
I have also kept many atm receipts from bad cash game sessions where I lost most.

I am married filing jointly and my wife only makes around $15k a year.
Not sure what to do, how much would I have to pay ?
Should I declare myself as a professional gambler ?
Any advice would be highly appreciated.
Thanks
Taxation is the worst enemy of the future of poker Quote
02-23-2015 , 03:20 PM
Quote:
Originally Posted by MiamiHeater
Hi, I have some tax questions and I don't know where to post.
I won a smaller tournament ($250bi) in 2,014 where first place paid $5,200 in which they issued me a W2 that day in person.
I've also made a few more tournament cashes the highest being $1200, but none issued me a W2.
I have not received anything in the mail.
My total tournament earning last year were $8,342 and I live in Florida.
I have kept all of the tournament buy in receipts and they total over a few thousand.
I have also kept many atm receipts from bad cash game sessions where I lost most.

I am married filing jointly and my wife only makes around $15k a year.
Not sure what to do, how much would I have to pay ?
Should I declare myself as a professional gambler ?
Any advice would be highly appreciated.
Thanks
All you need to know is in the US Taxes Sticky in the Poker Legislation forum.
Taxation is the worst enemy of the future of poker Quote
02-23-2015 , 03:55 PM
Quote:
Originally Posted by MiamiHeater
Hi, I have some tax questions and I don't know where to post.
I won a smaller tournament ($250bi) in 2,014 where first place paid $5,200 in which they issued me a W2 that day in person.
I've also made a few more tournament cashes the highest being $1200, but none issued me a W2.
I have not received anything in the mail.
My total tournament earning last year were $8,342 and I live in Florida.
I have kept all of the tournament buy in receipts and they total over a few thousand.
I have also kept many atm receipts from bad cash game sessions where I lost most.

I am married filing jointly and my wife only makes around $15k a year.
Not sure what to do, how much would I have to pay ?
Should I declare myself as a professional gambler ?
Any advice would be highly appreciated.
Thanks
I'm glad you kept all your receipts, so that you're not being overtaxed on those marginal winnings. According to your description you're an active REC that has done fine and it would be just fair if you paid no taxes at all, so that the $ stay in the poker economy - but that's just never going to happen
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