- Joined
- Jan 20, 2014
- Messages
- 51,768
- Reaction score
- 14,180
- Gender
- Male
- Political Leaning
- Very Conservative
I don't disagree with you, but in the US don't you have to pay tax on winnings in a lottery or at a casino, etc.? Why should winning a car or income from playing a game be any different. Here in Canada, if you win $10 million in a lottery, that's $10 million tax free you get and you pay tax only on any income you generate on the $10 million after you have it in your hands. Likewise, if you win a few $thousand at the race track or casino, you don't have to pay tax on your winnings before you get it and you don't have to declare it as income, because it's not "earned".
Tom Brady, making $millions for playing a fun sport, in a league making $billions should not be the poster child for taxation sob stories. Put up the couple who win $300 million in the Megaball lottery having to pay $150 million in tax before they get their hands on a cent of it.
Why should the lottery be tax-free? Let's face it the lottery is only a moneymaking gimmick for the state anyway.
So a couple wins 300 million and has to settle for 150 million? Oh boo-hoo Hoo call the Waaaabulance.
Besides the vast majority of people who win the lottery end up broke in a couple years anyway. You could give them 150 million 300 million or billion the fact is people who play the lottery usually don't know how to manage their cash anyway and they end up losing it all