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

Topic closed. 35 replies. Last post 5 years ago by RL-RANDOMLOGIC.

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Harbinger
D.C./MD.
United States
Member #44103
July 30, 2006
5587 Posts
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Posted: March 14, 2012, 10:16 pm - IP Logged

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!

    haymaker's avatar - Lottery-012.jpg
    Egg Harbor twp.south Jersey shore
    United States
    Member #112968
    June 29, 2011
    3857 Posts
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    Posted: March 14, 2012, 10:49 pm - IP Logged

    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!

    I never bet the fav.(oscar mayer)

    did they have a deitz&watson or a hatfield ?

    Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.

      Luffy's avatar - Buggy mouth_closed.jpg
      NC
      United States
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      February 17, 2012
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      Posted: March 14, 2012, 11:48 pm - IP Logged

      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.

        Bigheadnick's avatar - badluck
        Taunton, Ma
        United States
        Member #123005
        February 11, 2012
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        Posted: March 15, 2012, 12:35 am - IP Logged

        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.

        Scratchies for the win!

        We are in a two-party dictatorship. You want change ? Vote third partyThumbs Up

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          NY
          United States
          Member #23835
          October 16, 2005
          3502 Posts
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          Posted: March 15, 2012, 2:26 am - IP Logged

          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't get me wrong, I'd be thrilled to win anything but the idea of being taxed on even a 1,000 win is depressing. In all actuality it sounds like a falsehood saying someone won a million dollars when it isn't a million after paying out taxes. I guess I'm just wishing we could be like Canada and other countries who let people keep their entire winnings. Just wondered what other people think.

          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?

            RJOh's avatar - chipmunk
            mid-Ohio
            United States
            Member #9
            March 24, 2001
            19901 Posts
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            Posted: March 15, 2012, 2:50 am - IP Logged

            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't get me wrong, I'd be thrilled to win anything but the idea of being taxed on even a 1,000 win is depressing. In all actuality it sounds like a falsehood saying someone won a million dollars when it isn't a million after paying out taxes. I guess I'm just wishing we could be like Canada and other countries who let people keep their entire winnings. Just wondered what other people think.

            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.

             * you don't need to buy more tickets, just buy a winning ticket * 
               
                         Evil Looking       


              United States
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              May 25, 2011
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              Posted: March 15, 2012, 6:12 am - IP Logged

              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?

              Bravo....Bravo! Hurray!

                SergeM's avatar - slow icon.png
                Economy class
                Belgium
                Member #123700
                February 27, 2012
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                Posted: March 15, 2012, 7:26 am - IP Logged

                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.

                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 clothes and so on.

                Any payout should be taxed with the lottery and only shown net!

                Knowing that the players are losing from the lottery organizer, all winnings have to be tax free.

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                  Zeta Reticuli Star System
                  United States
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                  January 17, 2006
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                  Posted: March 15, 2012, 7:39 pm - IP Logged

                  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.

                  Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                  Lep

                  There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                    NightStalker's avatar - 50logo
                    East of Columbus, OH
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                    December 28, 2011
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                    Posted: March 16, 2012, 12:16 am - IP Logged

                    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 clothes and so on.

                    Any payout should be taxed with the lottery and only shown net!

                    Knowing that the players are losing from the lottery organizer, all winnings have to be tax free.

                    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.

                    Life's Too Short To Be Unhappy Cool

                      RJOh's avatar - chipmunk
                      mid-Ohio
                      United States
                      Member #9
                      March 24, 2001
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                      Posted: March 16, 2012, 1:16 am - IP Logged

                      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 clothes and so on.

                      Any payout should be taxed with the lottery and only shown net!

                      Knowing that the players are losing from the lottery organizer, all winnings have to be tax free.

                      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.

                       * you don't need to buy more tickets, just buy a winning ticket * 
                         
                                   Evil Looking       

                        savagegoose's avatar - ProfilePho
                        adelaide sa
                        Australia
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                        April 11, 2006
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                        Posted: March 16, 2012, 2:33 am - IP Logged

                        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.

                        2014 = -1016; 2015= -1409; 2016  = -1171; 2017 = ?  TOT =  -3596

                        keno historic = -2291 ; 2015= -603; 2016= -424; 2017 = ? TOT = - 3318

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                          Posted: March 16, 2012, 4:54 am - IP Logged

                          Jester Laugh>>>>>>>>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

                          LoveLoviesLove     (they R a very good gov) !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

                          Jester

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                            Posted: March 16, 2012, 5:04 am - IP Logged


                                                          Greed..!

                            I Agree!.......Thumbs Up........

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                              New Member
                              London
                              United Kingdom
                              Member #122713
                              February 6, 2012
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                              Posted: March 16, 2012, 6:28 am - IP Logged

                              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't get me wrong, I'd be thrilled to win anything but the idea of being taxed on even a 1,000 win is depressing. In all actuality it sounds like a falsehood saying someone won a million dollars when it isn't a million after paying out taxes. I guess I'm just wishing we could be like Canada and other countries who let people keep their entire winnings. Just wondered what other people think.

                              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.