Why can't the US be like other countries and not tax lottery winners?

Reply #35

RL-RANDOMLOGIC — Sat, 17 Mar 2012 09:32:40 GMT

Why, because it takes a lot of money to keep up appearances.

RL

Reply #34

KY Floyd — Sat, 17 Mar 2012 05:35:43 GMT

Are really PO'ed that your boss lied to you about how much your salary is, too

Reply #33

savagegoose — Fri, 16 Mar 2012 20:09:14 GMT

maybe there is a small bit of fine print that states : senators dont pay tax on lotto winnings so its kept the way it is

Reply #32

jarasan — Fri, 16 Mar 2012 15:05:14 GMT

Amazing stuff there are people? here that believe we should pay taxes on money that was wagered by other people? (taxpayers?) and the state already already keeps all the house money to pay the GD pensions and and all the other crap they said they wouldn' t spend it on. You sheep. As if they need to more of the money you won, f'ing thieves.

from MDSL:

Lottery Revenue Exceeds $519 Million for State s General Fund;

Slots Program Generates Nearly $50 Million for Education Trust Fund

The... [ More ]

Reply #31

shyguitar — Fri, 16 Mar 2012 14:12:23 GMT

I'm not saying that I expect other's to pay taxes on what I win but I do resent the fact that the lottery should really not be saying a 1 million jackpot or other winnings when the person does not get the full amount. I certainly understand we all have to pay our taxes but it's very different when the lottery says you can win a 1 million dollars on a scratch ticket or 2nd place in BP or MM but with taxes taken out it is not the 1 million they claimed.

Reply #30

shyguitar — Fri, 16 Mar 2012 14:00:51 GMT

That's exactly what I think they should do. I certainly understand everyone needs to pay their taxes it's just very disheartening to have the lottery say a 1 million prize or any prize that is not really that amount once taxes are taken out and taxes are paid by the person.

Reply #29

FARAHSAN — Fri, 16 Mar 2012 10:28:10 GMT

Hi,

Actually, the UK lottery IS taxed. Although the final jackpot is exempt from any taxes, out of every ticket sold 12 pence goes to the government as duty. So yes it is much more favourable than the conditions in the US but to be fair Americans and Europeans are two different breeds. If a lottery advertised a $100M jackpot here only to give 50M or so to the winner... let's say that just wouldn't fly. That's riot material in our minds, they wouldn't go that far hehe.... [ More ]

Reply #28

dallascowboyfan — Fri, 16 Mar 2012 09:04:14 GMT

...............

Reply #27

psykomo — Fri, 16 Mar 2012 08:54:56 GMT

our gov is on a mission 4 GOD!

they need the money 2 help the pur poor

PeoPles!

they print in GOD we trust on the back of the $money$

our gov is a g@@d and loving gov

yes, they luv the little children 2

(they R a very good gov

Reply #26

savagegoose — Fri, 16 Mar 2012 06:33:53 GMT

i saw someone mention me or at least , Australian lotto. its true we all pay tax on ticketds we purchase, AT THETIME THEY ARE BOUGHT. there are no statetaxes its all federal and they divy it out tothe states based on which state needs bribing in the next election.

anyhow all the players pay tax at purchase time., and the winner has it pre paid for him by all the losers.

i guess its doubly sweet for the winners out here.

Reply #25

RJOh — Fri, 16 Mar 2012 05:16:13 GMT

When you itemize, you also get a standard deduction for loses. Unless your total loses with the deduction you can claim against your winnings exceed that amount you'll be playing extra taxes on your winnings as if they were regular income.

Reply #24

NightStalker — Fri, 16 Mar 2012 04:16:16 GMT

Keep your receipts from the purchases of the tickets and you can deduct them at the end of the year on your taxes to help offset any winnings that you won during the year that are taxable (anything over $600 lump sum). Not sure if you can deduct more than you actually won. I would guess that you cannot.

Reply #23

Coin Toss — Thu, 15 Mar 2012 23:39:15 GMT

SergeM,

It just doesn't work that way.

You're going to have a pen, you're going to have clothes, no write offs there.

Reply #22

SergeM — Thu, 15 Mar 2012 11:26:47 GMT

I learned some accountancy and have a little problem there.

Normally you are taxed on winnings, and winnings are payouts minus costs. So you have to declare the costs too.

If you won 900 and it cost you 1000, then you should have a loss of 100. That loss you should declare and ask the state to lower your taxes by for example 25%*100(loss)= 25 USD. Why would you pay tax on 900 if you you are in fact bankrupt?

In the costs should be your transportation, your computer costs, your pen, your... [ More ]

Reply #21

mcginnin56 — Thu, 15 Mar 2012 10:12:32 GMT

Bravo....Bravo

Reply #20

RJOh — Thu, 15 Mar 2012 06:50:27 GMT

If you win less than $600 per ticket you only get taxed if you voluntarily put it on your tax returns, the states don't get enough information to send you a W-2G or 1099. If you win more than $600, you should be glad to treat it like regular income.

Reply #19

KY Floyd — Thu, 15 Mar 2012 06:26:29 GMT

Let me make sure I understand you correctly. You think you're taxed enough already, but when somebody else wins $100 million in the lottery you think that instead of them paying tax on that income you and everyone else should chip in and pay the taxes for them? Is that right

Reply #18

Bigheadnick — Thu, 15 Mar 2012 04:35:52 GMT

If they're going to tax your winnings then they should post the after tax winnings as the jackpot so you never actually see the money they're taking from you.

Reply #17

Luffy — Thu, 15 Mar 2012 03:48:20 GMT

Getting taxed on the lottery in the USA isnt a big deal to me.

The way I see it is that you are playing a game with a chance to get basically free money to you.

If you get too greedy and dont want to pay taxes, then the government will send out a couple of police and fbi swat teams along with the irs to collect their due.

Reply #16

haymaker — Thu, 15 Mar 2012 02:49:12 GMT

I never bet the fav.(oscar mayer)

did they have a deitz watson or a hatfield

Reply #15

jarasan — Thu, 15 Mar 2012 02:16:56 GMT

Govt a$$ho1e'$ pensions, healthcare, subsidies, debt servicing, Dept of Commerce, Dept of Education, EPA, IRS, TSA, FCC, FTC, FDA, The FED, Congreffs, ATF, DOJ, HHS, Dept of Agriculture, Dept of energy, union kick backs, Solyndra, GM, Lehman, Goldman, Michelle Obamas tennis shoes and vacations, the list is very long. Release the pigs!!!!!!!!!!!!!!!!

Bet on Oscar Mayer

Reply #14

time*treat — Thu, 15 Mar 2012 01:21:40 GMT

I've never found a decent explanation for dual-pricing systems.

Do like the Australian upfront 3 pennies tax, and keep the winner's business out of the papers, though.

Reply #13

JonnyBgood07 — Wed, 14 Mar 2012 23:41:51 GMT

yup

Reply #12

CestLaVie — Wed, 14 Mar 2012 23:33:10 GMT

We have to be taxed on our lottery winnings because our country is broke. We have to pay for the lottery winners who win millions and still indignitely insist they are entitled to their foodstamps. Basically, it boils down to we are stupid, lazy and entirely willing to give up our power no questions asked. We need a hero. Please vote responsibly.

Reply #11

Coin Toss — Wed, 14 Mar 2012 22:17:06 GMT

Frim what savagegoose has posted I still thihnk Australia has the best idea of all. The tickets are $1.03 AUS, the $.03 prepays the tax, and the playslip even has a NFP option- Not For Publication, i.e., remaining anonymous is an option. (The gov't knows you won, yeah, but your neighbors don't.)

As far as I know, the U.S. is the only country that taxes gambling winnings.

As for Europe and taxes - I lived in Germany for three years and the average German paid 51% Stoia , taxes. The German g... [ More ]

Reply #10

NightStalker — Wed, 14 Mar 2012 21:54:38 GMT

Going to try and change my ways and not respond to this because the poster does not fully understand America. And that's okay.

We are taxed because there ain't no such thing as a free lunch. I'll be happy to pay my taxes when I win. Maybe I'll go to Belgium and get some sweet dark chocolate and some Belgian ale. You buy the first round.

Reply #9

MADDOG10 — Wed, 14 Mar 2012 19:09:47 GMT

Greed..

Reply #8

time*treat — Wed, 14 Mar 2012 19:07:38 GMT

It's way more than the places you listed.

Americans spend and have spent billions making sure the europeans (and other ingrates across the globe) play nice with each other. Plus the salaries of those soldiers provide a nice boost to the local economies. Bad investment, IMO.

That's billions that were freed up for those same gov'ts to put into their own schools, social programs, and infrastructure, rather than have to use on their own defense.

Reply #7

rdgrnr — Wed, 14 Mar 2012 18:50:13 GMT

You pay every single soldier, gun and bullet.

Yeah, that's a price Americans have always paid to free people from tyrants around the world.

We've paid a heavy price in blood too.

And we paid it in Europe to keep the Germans from stompin' your asses into the ground.

Otherwise you'd be goose-stepping to Wagner right now.

So don't worry about our military.

Reply #6

time*treat — Wed, 14 Mar 2012 18:36:08 GMT

If you look around, you'll find those gov'ts shafting their citizens in other ways.

Reply #5

SergeM — Wed, 14 Mar 2012 18:28:42 GMT

The reason why you have to pay taxes on the lottery is probably because you are not highly taxed on fuel and other like cigarettes and beer for example. Don't forget that you have to pay your military in Afghanistan, Irak and other. You pay every single soldier, gun and bullet. I don't live there, I got the news here on internet about huge debts because of Irak. Or, they just spend it there, if it isn't debt, it was just huge budget.

Reply #4

rdgrnr — Wed, 14 Mar 2012 16:54:36 GMT

In a word - Spending.

No other government in the world spends like ours, so we need to tax everything possible.

We are buried in an avalanche of debt right now and the current administration thinks the way out is through more spending.

We're now funding studies on how men wash their packages in Zimbabwe and why Chinese hookers drink so much.

We need to know these things. It's a matter of national security.

Reply #3

uklotteryplayer — Wed, 14 Mar 2012 16:31:23 GMT

Come to uk. They dont tax lottery but taxes everything else.

Reply #2

James1 — Wed, 14 Mar 2012 16:27:11 GMT

What arent we taxed on in the US

Reply #1

sully16 — Wed, 14 Mar 2012 15:38:13 GMT

Maybe in an alternate universe, where things make sense.

Why can't the US be like other countries and not tax lottery winners?

shyguitar — Wed, 14 Mar 2012 15:33:51 GMT

Hi,

Why does the US have to tax all lottery winners. In other countries like Canada and the UK, anyone who wins a jackpot prize or any prize gets to keep their entire winnings and not have to pay taxes on their winnings. I am someone who has never made much money in their job and feel we are taxed enough. When I hear someone in Canada who wins 1 Million dollars it's great to know they actually get the entire amount and do not have to deal with most of that amount being eaten up by taxes. Don... [ More ]