Anyone wonders why we pay taxes on wins of $1200?

[DaBurglar]

You're right on target, MPD.  Billy Joe is ONE SMART DUDE and I guess you are not familiar with his past work on the forum.  He doesn't frequent this site anymore, BUT I believe he SURE IS MISSED....at least by me....oh, did I mention charismatic?Did we ever figure out, or was it ever disclosed, where Billyjoe went, or why he no longer is here???  Seriously, can anyone tell us?

[Galeygoo]

[QUOTE=Galeygoo] You're right on target, MPD.  Billy Joe is ONE SMART DUDE and I guess you are not familiar with his past work on the forum.  He doesn't frequent this site anymore, BUT I believe he SURE IS MISSED....at least by me....oh, did I mention charismatic?Did we ever figure out, or was it ever disclosed, where Billyjoe went, or why he no longer is here???  Seriously, can anyone tell us?[/QUOTE]I can not.  I can only hope that our friend is happy and healthy.

[UptightTO]

I was receiving a hand pay at the SouthPoint in Las Vegas yesterday afternoon and the gal who took care of the paperwork said there's talk of lowing the amount of winnings reported to the IRS to $600.00 which confirms what another member reported. She said it's a ridiculous idea but what can they do? Even she said a more appropriate amount would be around $4-5,000 given inflation since the current amount to be reported was made law...What strikes me is how disconnected those who make law are from those of us who have to live by the laws they enact...

[olds442jetaway]

Government is so desperate for money and they will get it any way they can. If this goes through, it will impact those of us who pay state income tax the most. The IRS is looking for feedback on this, but when does government listen to the little guy anyway. The bookeeping for the casino would be horrible. With our luck, they would probably reduce paytables more to pay for it.

[steakneggs]

When figuring the expected return on a game with progressive jackpots, how do you factor in the income tax costs for pots that go over the $1200 threshhold?

[notes1]

not directed to anyone here, but the more services people ask for, the government is only too happy to provide. the more of the electorate that can be bought by giving them something, the politicans are happy to oblige. for the life of me, i cannot understand why folks do not see the relationship between rising control over our lives and more giveaways, and increased tax burden. there is no one to blame, but the voters. 

[UptightTO]

Who in government introduced the idea of a $600.00 threshold and what special interest group is pulling his or her strings? More government intrusion and regulation is never good for business or the consumer...never...

How would this new threshold impact those who play table games? I imagine not much. Make a $1000.00 bet and get paid time and a half for a blackjack and you won't see the 1099 brigade rushing your table...

[olds442jetaway]

not directed to anyone here, but the more services people ask for, the government is only too happy to provide. the more of the electorate that can be bought by giving them something, the politicans are happy to oblige. for the life of me, i cannot understand why folks do not see the relationship between rising control over our lives and more giveaways, and increased tax burden. there is no one to blame, but the voters. 

     The biggest problem we have besides crooks that run most of politics imo is voter apathy. 80% or more of the people in this country care more about who is currently diddling who in Hollywood and not much else except how to bilk the system to the max. Like Maynard G. Krebs for those who remember, many in this country hate the word " work ". Unfortunately, for what is left of the middle class who do work, the pay for that work mostly goes to the government in one way or another and we get the pocket change. The casino gets a good part of that too for most of us here unfortunately. On the bright side as an old farmer once told me, " I had a good day today because I woke up on the right side of the grass. "

[DaBurglar]

not directed to anyone here, but the more services people ask for, the government is only too happy to provide. the more of the electorate that can be bought by giving them something, the politicans are happy to oblige. for the life of me, i cannot understand why folks do not see the relationship between rising control over our lives and more giveaways, and increased tax burden. there is no one to blame, but the voters. interesting post......and same goes for Olds442 and his post about voter apathy (which I agree with 100%).....MORE people who are eligible to vote choose NOT to vote, for whatever reason.But this begs the question:   What is the appropriate level of Government, in your opinion?   How much should the government receive, or how much should the government do/control in our lives?   And what do you do about the different LEVELS of government (state, federal, town, etc.)?    Clearly, there are certain things and reasons for having a empowered (and funded) government at all levels that are essential:  Obviously, national defense is a necessary evil that at least offers SOME economic benefit when certain goods (i.e. weapons and related military items) are produced;    We need a strong disaster relief department (i.e. FEMA)  for those awful times when natural or man made disasters happen (it always horrifies me and amuses me at the same time when certain people rant about the government running their lives, and then a hurricane blows in and those same anti-government zealots are wailing "Where the F is the government!?!?")I agree that our current system is totally run amok....consider the longest and most destructive and costly war in US history....the "war on drugs".   Recently there was a "raid" in a nearby western mass town where 6 people were arrested and about $150,000 worth of drugs and cash were seized, along with several guns.   The newspaper reported that Local PD, State PD, Dea, FBI, IRS and ATF agents all participated in this takedown.........now tell me, what is wrong with this picture?     In every city and town you have a local Police force (or Sheriff equivalent); You have State Police (and in California and other states you have a Highway patrol);  We have the FBi, we have the DEA, we have the ATF, we have the IRS' investigative and enforcement branch, we have the US customs force, the US Border Patrol, we have the US coast guard, ALL with a stated goal and objective to fight and interdict the flow and production (foreign and domestic)  of substances the government(s) has determined NO US citizen has the right to put into their body.     The money that is spent to fight it, prosecute and incarcerate is ASTRONOMICAL, and in the opinions of many experts far exceeds the societal cost and damage.    Plus, when we arrest, and prosecute, and incarcerate people involved in this war, THAT continues to cost society for a very very long time.....again, what is wrong with this picture?   And this "War on drugs" is but ONE single area/issue.....there are so many many more!Do you see the problem here?    Where do you start?   What do you start with?Clearly as I stated before, our current system of government is run amok.......yet clearly there is SOME level and type of government that is needed.......The fact that MONEY is involved no matter what you do and which way you turn makes this almost impossible.    The above mentioned agencies that are all fighting the war on Drugs each must, every year, justify their own budgets and existence......and obviously, each year they ALL claim they need MORE MORE MORE!!!    That case I mentioned above with the 6 people who were arrested.....no doubt all of the participating agencies will use that one single raid/incident in their year end reports to congress or the state(s) to "JUSTIFY" their existence and their effectiveness, and their deserving of the money they request for continued existence.   When the people employed by these agencies retire (or if they are hurt and go on disability), that becomes part of the budget/cost too.....and Who pays for all of this???  Why we do of course, in the form of TAXES....Meanwhile, across this great land of ours, our infrastructure, our bridges, roads and highways, our powergrids, our Dams, and many more things, decay and continue to age and fall apart ......why cant our government do something about that?   Surely that is important, and worthwhile, and is EXACTLY the kind of thing that Government SHOULD definitely be involved with and oversee.......right????     Why cant we spend the money on this important issue (money which would go towards employing americans to fix the roads and bridges, to american companies etc>)  instead of sinking Billions and Billions into Afghanistan and Iraq and who knows where else????

[Tedlark]

  DaBurglar you forgot to mention the US Postal Inspection Service, they may have a hand in it somewhere.