Obama Admin. working on 90% tax on lottery?Prev Topic Next Topic

New Topic New Poll

xandercage

texas
United States
Member #72,547
March 21, 2009
141 Posts
Offline

Jun 29, 2009, 5:46 pm

It's been rumored that Obama and his team are working on a bill that would put a 90% cap on anything over $250,000. This includes one who may win the lottery, meaning they would take 90% of anything won over $250,000.00. If this is true, we are heading towards communism.
xandercage

texas
United States
Member #72,547
March 21, 2009
141 Posts
Offline

Jun 29, 2009, 5:49 pm

I don't have the facts on this, nor any documentation, but we all heard that he was going to tax the middle class, through rumors. Now we see that he is trying to do just that. What's next?
chouquounette

100

United States
Member #916
December 12, 2002
18,335 Posts
Offline

Jun 29, 2009, 5:53 pm

I can tell this is going to be an interesting conversation
Redsquash

United States
Member #76,283
June 23, 2009
16 Posts
Offline

Jun 29, 2009, 5:57 pm

I haven't heard that.

About the 90% tax, what I have heard was that - Obama administration was considering 90% tax on the bonuses paid to the executives of the companies who received federal bail-out money. The reason behind was those companies (like AIG, Citi) received billions of dollars from the tax payers money, and used that money to pay millions to their top executive. Obama administration was outrageous on that, and asked the executives to return the bonuses. Most did return, some did not. So this bill was introduced to tax those bonuses at 90% federal tax. They assumed the remaining 10% would be taken care by the State tax. But eventually, all executives agreed to return the money, and this bill was not necessary to pass into law.

As regards, taxing 90% lottery money or any specific type of money would attract many lawsuites. I dont think, Obama administration is that foolish.
Todd

50

Chief Bottle Washer

New Jersey
United States
Member #1
May 31, 2000
27,937 Posts
Online

Jun 29, 2009, 6:02 pm

Quote: Originally posted by Redsquash on Jun 29, 2009
I haven't heard that.

About the 90% tax, what I have heard was that - Obama administration was considering 90% tax on the bonuses paid to the executives of the companies who received federal bail-out money. The reason behind was those companies (like AIG, Citi) received billions of dollars from the tax payers money, and used that money to pay millions to their top executive. Obama administration was outrageous on that, and asked the executives to return the bonuses. Most did return, some did not. So this bill was introduced to tax those bonuses at 90% federal tax. They assumed the remaining 10% would be taken care by the State tax. But eventually, all executives agreed to return the money, and this bill was not necessary to pass into law.

As regards, taxing 90% lottery money or any specific type of money would attract many lawsuites. I dont think, Obama administration is that foolish.

I think this is right, the 90% penalty is just on the poor slobs who took their income as a bonus at AIG instead of getting a regular salary.

Check the State Lottery Report Card
What grade did your lottery earn?

Sign the Petition for True Lottery Drawings
Help eliminate computerized drawings!
Stack47

Kentucky
United States
Member #32,651
February 14, 2006
10,301 Posts
Offline

Jun 29, 2009, 6:05 pm

Quote: Originally posted by xandercage on Jun 29, 2009
I don't have the facts on this, nor any documentation, but we all heard that he was going to tax the middle class, through rumors. Now we see that he is trying to do just that. What's next?

What's the point of discussing rumors without any facts or documentation?
RJOh

100

mid-Ohio
United States
Member #9
March 24, 2001
20,272 Posts
Offline

Jun 29, 2009, 6:39 pm

Quote: Originally posted by Stack47 on Jun 29, 2009
What's the point of discussing rumors without any facts or documentation?

Facts just get in the way of a good discussion. Didn't you see the thread in this forum about the pick3/4 system that wins 95% of the time? The poster went so far as to post a bunch of numbers and congratulate himself for a big win even though no one knows where his numbers hit. Over 25 pages of BS was generated using rumors, many of them made up on the fly as needed.

* you don't need to buy every combination, just the winning ones *
joker17

United States
Member #75,356
June 1, 2009
5,345 Posts
Offline

Jun 29, 2009, 7:41 pm

Quote: Originally posted by RJOh on Jun 29, 2009
Facts just get in the way of a good discussion. Didn't you see the thread in this forum about the pick3/4 system that wins 95% of the time? The poster went so far as to post a bunch of numbers and congratulate himself for a big win even though no one knows where his numbers hit. Over 25 pages of BS was generated using rumors, many of them made up on the fly as needed.

Your first sentence.....lol

Poor matchmaker.....
SmoothJuice

United States
Member #54,388
August 17, 2007
313 Posts
Offline

Jun 29, 2009, 7:44 pm

Quote: Originally posted by xandercage on Jun 29, 2009
It's been rumored that Obama and his team are working on a bill that would put a 90% cap on anything over $250,000. This includes one who may win the lottery, meaning they would take 90% of anything won over $250,000.00. If this is true, we are heading towards communism.

If the USA were communist, then the governmetn would take out 99.99%.
BobP

Dump Water Florida
United States
Member #380
June 5, 2002
3,576 Posts
Offline

Jun 29, 2009, 7:49 pm

They who say, are the little jackasses who live in some people's heads. BobP
xandercage

texas
United States
Member #72,547
March 21, 2009
141 Posts
Offline

Jun 29, 2009, 8:31 pm

Why did I say this? Well let's start by acknowledging that I said I had no facts on this; therefore clearly this was meant to be a discussion as to get the answer to it. This forum in and of itself is based on opinionated information, is it not? A forum is just that; a place for discussion. Do you post any predictions on this site? Do you read and take into account the predictions and opinionated systems-beliefs on this site? You're here aren't you?
xandercage

texas
United States
Member #72,547
March 21, 2009
141 Posts
Offline

Jun 29, 2009, 8:37 pm

Alot of the times, there always may not be facts about a topic. Hearsay is hearsay, but there is usually always some truth to whatever is being said. I'm still trying to digest the fact that you asked why I would make a post without any facts, in a discussion forum. I am in the lottery discussion forum aren't I? Besides I wouldn't put anything past Obama. If you don't watch out they'll be giving you a curfew time for lottery post.
RJOh

100

mid-Ohio
United States
Member #9
March 24, 2001
20,272 Posts
Offline

Jun 29, 2009, 9:30 pm

Quote: Originally posted by xandercage on Jun 29, 2009
Alot of the times, there always may not be facts about a topic. Hearsay is hearsay, but there is usually always some truth to whatever is being said. I'm still trying to digest the fact that you asked why I would make a post without any facts, in a discussion forum. I am in the lottery discussion forum aren't I? Besides I wouldn't put anything past Obama. If you don't watch out they'll be giving you a curfew time for lottery post.

I'm still trying to digest the fact that you asked why I would make a post without any facts

I assume your thread in the pick5 forum:

"3 out of 5 this is the third hit i've made this week cash 5 tex"
https://www.lotterypost.com/thread/196055

was just to getting some conversation going.

* you don't need to buy every combination, just the winning ones *
SpanaUnlimited

Espanola NM
United States
Member #72,720
March 25, 2009
133 Posts
Offline

Jun 29, 2009, 10:10 pm

There will never be a 90% tax. People forget This nation was created over 200 yrs ago when the British tried to overtax us. It caused a revolution and USA was born.

I don't want to make this thread politicial.....but if we ever had a 90% tax. I wouldn't pay it and I am sure there would be a revolution that would make the current situation in Iran/Honduras seem like a day in the park
Chuckstergrmi

Grand Rapids, MI
United States
Member #74,346
May 8, 2009
5 Posts
Offline

Jun 29, 2009, 11:04 pm

Quote: Originally posted by SpanaUnlimited on Jun 29, 2009
There will never be a 90% tax. People forget This nation was created over 200 yrs ago when the British tried to overtax us. It caused a revolution and USA was born.

I don't want to make this thread politicial.....but if we ever had a 90% tax. I wouldn't pay it and I am sure there would be a revolution that would make the current situation in Iran/Honduras seem like a day in the park

I hope so!!

New Topic New Poll

Subscribe to this topic

Obama Admin. working on 90% tax on lottery?Prev TopicNext Topic

Obama Admin. working on 90% tax on lottery?Prev Topic Next Topic