POLITICAL ACTION CALL: Time For Players/Fans To Help..

[DogsUp]

Originally Posted by SCUDSBROTHER

Actually it's triple taxation.

1) All the money going into pools has already been taxed.

2) They take money out of the pools, and give it to the state.

3) Tax people who do well on that day of racing.

I agree with the notion that taxing gambling winnings is a crock. However, the discussion is when not if there should be a tax or not. I do not think there should be one. But there is, and I feel it should be taken out at the time of winning.

[SCUDSBROTHER]

Originally Posted by DogsUp

I agree with the notion that taxing gambling winnings is a crock. However, the discussion is when not if there should be a tax or not. I do not think there should be one. But there is, and I feel it should be taken out at the time of winning.

So, what is this about, then? You're gunna either get the money back the following year, or you're gunna have to give it up in tax. If you have a hit in January, then you don't get that 25% back(if you're due it) for a whole year. So, it's a question of the gov't making interest off your money?

[DogsUp]

Originally Posted by SCUDSBROTHER

So, what is this about, then? You're gunna either get the money back the following year, or you're gunna have to give it up in tax. If you have a hit in January, then you don't get that 25% back(if you're due it) for a whole year. So, it's a question of the gov't making interest off your money?

Exactly my point....I just feel that it is better for the gov't to take it upfront than at the end of the year. Just like they do in a paycheck. Do you think it would be prudent for the gov't to rely on the public to pay their taxes at the end of the year instead of when they get paid?

[DogsUp]

Originally Posted by DaHoss9698

yeah that's how it works. So how is that fair? For the week I show over a $1000 loss when in reality i actually won. Then at the end of the year I have to hope I have lost enough so I can get that $1000 or so back. So I'm basically loaning the government money that I might not get back. Sweet.

But that is how it works with your paycheck. So why should gambling winnings or any other type of winnings be any different?

[DogsUp]

Originally Posted by DaHoss9698

Nevermind. I give up. Lets just give them all of our money. They're going to get it anyway....

Dont get me wrong....I do not think there should be taxes on gambling winngs from a pool that is produced by post taxed money. But it is going to be taxed and I feel that it should be taken up front.

They may not get it...Obama is going to reduce taxes on 95% of the people working--joke.

[SCUDSBROTHER]

Originally Posted by DogsUp

Dont get me wrong....I do not think there should be taxes on gambling winngs from a pool that is produced by post taxed money. But it is going to be taxed and I feel that it should be taken up front.

They may not get it...Obama is going to reduce taxes on 95% of the people working--joke.

Well, I don't agree with taking it when you hit. If they want to note it(like if ya hit for $1000 on a p3,) that's one thing, but a lot of people get this money back. So, why should they get to take that money and make interest off it? You're saying people aren't disciplined enough to avoid gambling the money away? It's a good point, but aren't your taxes due the following year. Why pay them early(especially when you are often gunna get the money back anyways.)

[DogsUp]

Originally Posted by SCUDSBROTHER

Well, I don't agree with taking it when you hit. If they want to note it(like if ya hit for $1000 on a p3,) that's one thing, but a lot of people get this money back. So, why should they get to take that money and make interest off it? You're saying people aren't disciplined enough to avoid gambling the money away? It's a good point, but aren't your taxes due the following year. Why pay them early(especially when you are often gunna get the money back anyways.)

Pay them early to ensure that the taxes are paid. That is the only reason.

[golfer]

I sent mine in a few days ago, just got this response:

"Thank you for contacting me to express your opinion of our current tax system. I appreciate your taking the time to share your thoughts on this matter.

Our tax system is in dire need of reform, and Americans deserve a fairer tax system. Today's tax code is so complex that many Americans cannot even file their own taxes and must go to an accountant. In fact, our nation spends 5.4 billion hours a year - as many hours as the entire population of Indiana works - filling out tax forms.

During each Congress, many tax reform proposals are introduced for consideration. One of these proposals, H.R. 25 - the FAIR Tax bill, enacts a national sales tax to be administered primarily by the States. I am proud to inform you that I am a cosponsor of this legislation.

As you may be aware, the FAIR Tax bill would create a new 23 percent tax inclusive federal sales tax on all new products sold within the United States. If enacted into law, the measure would repeal federal income, corporate income, self-employment, payroll, capital gains, Social Security, Medicare and gift and estate taxes.

It is clear to me that the time has come to engage Congress and the nation in a dialogue on reforming our current tax system. By cosponsoring the FAIR Tax, I hope to encourage thoughtful discourse on this important issue. Through such a national debate, I know that this proposal, and other tax reform measures, can be carefully assessed and examined so we as a nation can begin the process of making real changes to our outdated tax system.



Again, I want to thank you for taking the time to contact me. Please feel free to contact me if I can be of any further assistance on this matter or if you would like additional information on this topic or other issues facing Congress, please visit my Website at http://crenshaw.house.gov."

Unless I mis-read this, it seems to me my Congressman basically ignored everything about my e-mail except for the topic.

[Danzig]

Originally Posted by golfer

I sent mine in a few days ago, just got this response:




Unless I mis-read this, it seems to me my Congressman basically ignored everything about my e-mail except for the topic.

shocking

[opusone]

Sent. Now to cash some big tickets

[Bigsmc]

Originally Posted by golfer

I sent mine in a few days ago, just got this response:




Unless I mis-read this, it seems to me my Congressman basically ignored everything about my e-mail except for the topic.

That dude needs a phone call from you.

[ALostTexan]

Originally Posted by DogsUp

But that is how it works with your paycheck. So why should gambling winnings or any other type of winnings be any different?

Basically it is how it works with your paycheck, except that it is ultimately your option on how much of your paycheck goes to taxation. You can always claim a larger number of dependents, allowing the government to take very little, manage your own money throughout the year (i.e. savings account, where YOU get the interest instead of the government), and then pay the taxes at the end of the year.

Why should everyone suffer because of a law intended to protect stupid people that can't manage their money? All horseplayers hurt with a law such as this because it hurts the churn by taking money out of the pools...

[zippyneedsawin]

Originally Posted by Bigsmc

That dude needs a phone call from you.

Something tells me the Representative, him/herself, didn't type out that email.

[golfer]

Originally Posted by zippyneedsawin

Something tells me the Representative, him/herself, didn't type out that email.

I'm just waiting to see if others get similar responses.
I'm not the least bit surprised by the response I received.

[Bigsmc]

Originally Posted by zippyneedsawin

Something tells me the Representative, him/herself, didn't type out that email.

Exactly why he needs a phone call. His 18 yr old intern that responded to Seth is going to turn off his constituants if he/she randomly answers e-mails by matching a couple key words.

I would just politely let him know that you weren't pleased with the response you got from his staffers and it may affect your future voting choice because you don't feel he is on top of the "issues". If he doesn't get re-elected, his gravy train ends and he may actually have to get a job.

[dalakhani]

Originally Posted by DogsUp

But that is how it works with your paycheck. So why should gambling winnings or any other type of winnings be any different?

With your paycheck, you can adjust your withholdings so that the amount of tax taken out is approximately what is owed and there is little to no overpayment.

One can't do that with what you propose. Why would it be prudent to give the government interest free use of my overpayment until refund time especially if i can balance out my gains with losses?

[DogsUp]

Originally Posted by DaHoss9698

I'm curious, ever have a ticket that you had to give 25% of the winnings away before you even touched the money?

Sorry I left this discussion without answering....but YES, I have had a handful of winning tickets to get the 25% taken out. To me, it was no big deal. I owed the money no matter what, so why not pay it then.

[DogsUp]

Originally Posted by ALostTexan

Basically it is how it works with your paycheck, except that it is ultimately your option on how much of your paycheck goes to taxation. You can always claim a larger number of dependents, allowing the government to take very little, manage your own money throughout the year (i.e. savings account, where YOU get the interest instead of the government), and then pay the taxes at the end of the year.

Why should everyone suffer because of a law intended to protect stupid people that can't manage their money? All horseplayers hurt with a law such as this because it hurts the churn by taking money out of the pools...

I agree that taxing the pool is dumb. But it is taxed for now and I just think it should be taken upfront. Just a preference is all.

In my own life, I claim 99 and pay my taxes at the end of the year. And like you said, I reap the interest throughout the year and yet, I have to pay tax on the interest--it sucks to be honest. But not everyone is responsible enough to pay their taxes on winnings.

[DogsUp]

Originally Posted by dalakhani

With your paycheck, you can adjust your withholdings so that the amount of tax taken out is approximately what is owed and there is little to no overpayment.

One can't do that with what you propose. Why would it be prudent to give the government interest free use of my overpayment until refund time especially if i can balance out my gains with losses?

Why wouldn't it be prudent for the gov't to collect the taxes upfront? If it is a law to tax winnings, then I support the payment upfront.

[DogsUp]

Originally Posted by DaHoss9698

Well, we'll just have to agree to disagree. You seem to think I or anyone else has a problem paying the money. It's not that at all. I have a problem with the way it's done. If I owe taxes on my winnings fine. I'll pay them. But I find it ridiculous that I have to give the Gov't an interest free loan. I just don't understand how you see this as fair and why you are so willing to part with your hard earned money, so easily. But, we're all different...

I believe that you and prob 50% of players out there are responsible enough to pay the taxes on their winnings. However, the gov't doesnt see it that way. If they did, we would be responsible for paying our own sales tax, there wouldn't be social security, and everyone would just pay at once.

However, I think we all agree that taxing the pools is dumb.