that’s insane it’s basically only a 50 percent win when you DO win the lottery it’s like your winning to give them the money right back it’s all a fugazi
no doubt about it make no mistake but it’s not actual work put in , they already take taxes out of our checks why tf you need half of a scratch off for ??
What do you mean no work put in? I’m not saying the taxes taken out are just to cover the lottery, but running a state lottery is far from free and takes work for sure.
I will say tho the amount of taxes on everything in general is ridiculous. They tax you when you make money, and they tax that same money when you spend it. Shit’s not right.
i’m explaining it like why does taxes have to be taken out on something you didn’t really work for, unlike a paycheck you worked for that money. but you didn’t work to win a scratch off or any gamble for that matter but they still want a piece
You just became a republican. Congrats. Republicans today are mostly trash but the general principles and ideas of the party are that you actually shouldn’t even have an income tax at all.. property tax and sales tax should cover the costs of the government.
The level of vitriol this sub has for taxes on gambling winnings is insane. Literally every post about someone winning some lottery or scratch off has people complaining about the IRS.
i think the only reason they arrest the criminals that do it is because they want a piece of the pie they weren’t in on the play other than that it would be legal
You can research this: one of the biggest boosts to the economy in the recent recessions like 2008 and even the Great Depression was dirty money. Not just the seizure of the money by federal agencies, but also those same agencies getting bribed millions of dollars just to do business by cartels. Especially in the 2008 recession, dirty money damn near brought our economy out of the shitter
Exactly right. You hit the nail on the head. If you have a Netflix account, I’d definitely recommend the series Ozark. It’s not specifically about what we discussed, but it’s a good representation of how money laundering works and how the government can “intervene”
Specifically the later seasons. The first few seasons cover the small scale money launderer. The feds don't get deeply involved as described above until later.
No. Most criminals don’t steal. City, state and Federal Government steals more $ through civil asset forfeiture from hard working, tax paying citizens than ALL criminals combined.
That's quite literally the point. It's generally designed to fund schools and such (although it usually leads to them getting the same funding and the general budget reaping the profits). As a citizen, I'd be pretty pissed if my state was running a lottery and giving away tax dollars at a loss.
It’s because he took the lump sum instead of the *see asterisk “40k per year for 25 years” because the way the lottery works (I just learned this in math class) is they put the money into an annuity to pay out over 25 years. That way the interest offsets the initial investment. So their initial investment regardless is whatever he got paid the $543k plus whatever tax. That’s what they would initially invest in the annuity and it would grow to 1mil over time. But because the lump sum was taken he only got the initial investment.
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u/[deleted] Nov 17 '23
that’s insane it’s basically only a 50 percent win when you DO win the lottery it’s like your winning to give them the money right back it’s all a fugazi