Annual Income Tax Return Lottery

Reply #13

CASH Only — Mon, 28 Feb 2005 23:53:10 GMT

The winnings would be tax free

Reply #12

jsk2001 — Sun, 27 Feb 2005 02:26:37 GMT

Well since we are trying to simplify the tax code, adding another page just for a lottery scheme seems to make things more complicated.The lottery was designed to collect money for education and other government services. A lot of the money comes from people with nothing who think they are going to win big. The jackpot winner takes home millions of dollars because lots of people lose. States and cities with jackpot winners are just as happy about getting the tax money as the winner is. The worst... [ More ]

Reply #11

lazyjim — Sun, 27 Feb 2005 00:12:57 GMT

Quote: Originally posted by ayenowitall on January 19, 2005 Participation would be entirely voluntary and the prizes would be tax free. Sounds good to me, I'd be for it.

Reply #10

CASH Only — Wed, 02 Feb 2005 14:42:27 GMT

aye:I see your point.

Reply #9

ayenowitall — Sat, 29 Jan 2005 02:02:20 GMT

Quote: Originally posted by Todd on January 26, 2005No way, the Federal Government should collect as little as possible, and then it's up to each individual if they want to put their own dollar(s) into a lottery game.Isn't that what I said? I've never proposed that anyone be required to play any lottery game.It's ironic that we would look to the Federal government for intervention to stop the states from using computerized draws, but we somehow see the Federal government as a malevolent entity w... [ More ]

Reply #8

Todd — Thu, 27 Jan 2005 02:10:08 GMT

No way, the Federal Government should collect as little as possible, and then it's up to each individual if they want to put their own dollar(s) into a lottery game.

Reply #7

undress — Thu, 27 Jan 2005 01:39:15 GMT

I agree Ryan

Reply #6

CASH Only — Thu, 27 Jan 2005 01:36:40 GMT

ryan:I think we all agree.

Reply #5

ryanm — Thu, 20 Jan 2005 02:21:09 GMT

Lottery winnings should not be subject to state tax in any state.

Reply #4

ayenowitall — Thu, 20 Jan 2005 02:15:59 GMT

dvdiva,There's only one United Staes of America, but there are indeed other countries that have state or provincial governments which co-exist with their respective federal governments. There's nothing about this country having both the federal and state governments that would preclude having state or federal income tax return lotteries.I'm no expert on constitutional law, but there's nothing about the 10th Amendment that gives the states the exclusive right to conduct lotteries. I seem to remem... [ More ]

Reply #3

dvdiva — Wed, 19 Jan 2005 20:40:02 GMT

Other countries dont have a state and federal structure like the US. The only way of having a federal lottery would be to get rid of the 10th admendment of the constitution. So no federal lottery is going to happen any time soon. Second lotteries are for the generation of money (i.e. tax) for the states, having money taken from their income tax would not generate more money for the participating states.Lotteries are a voluntary tax. Period.

Reply #2

ayenowitall — Wed, 19 Jan 2005 09:43:29 GMT

Quote: Originally posted by dvdiva on January 19, 2005Lotteries are up to the states to decide not the federal government. A better question might me why should we tax a tax. I think its time to end tax on lottery winnings.dvdiva,Actually, many countries have national lotteries. Additionally, my question addresses not only a national lottery, but state lotteries as well.I'm also a little confused by your question about why we should tax a tax. Contrary to a widely held misconception, lotteries... [ More ]

Reply #1

dvdiva — Wed, 19 Jan 2005 08:06:06 GMT

Lotteries are up to the states to decide not the federal government. A better question might me why should we tax a tax. I think its time to end tax on lottery winnings.

Annual Income Tax Return Lottery

ayenowitall — Wed, 19 Jan 2005 08:03:28 GMT

If our income tax returns can offer us the option of designating funds to go to politcal campaigns, why can't we designate a dollar to enter an annual income tax return lottery? Some states even offer tax filers the opportunity to donate to various funds for veterans, victims, Olympic games, wildlife conservation, and other things. An annual income tax return lottery would increase tax compliance by encouraging more people to file a return.Such a federal income tax return lottery could be done o... [ More ]