5 ms·
I'm not too sure about people who are winning scratchies or state lotteries, but there is a fairly well-regulated black market among high-stakes gamblers for lo
by thret 9y ago
I'm not too sure about people who are winning scratchies or state lotteries, but there is a fairly well-regulated black market among high-stakes gamblers for losing horse-racing (etc.) tickets. You use them to lay off other winnings so that you don't pay tax. I imagine people looking to wash money also have a market for winning tickets.
It's kind of perverse that Americans pay taxes on gambling AT ALL. The rake is already being taxed, so why tax the winners? It's criminal.
- jamiek88 9y agoYeah it’s double dipping. In the U.K. before they abolished taxes on gambling you has the choice at least. Pay the tax on the stake or the take.
- kbutler 9y agoLots of things are taxed in multiple ways. Income tax and sales tax, or employee and employer FICA for instance. The tax structure should generally be simpler, but choosing to tax or not tax particular activities is hardly criminal, especially if the intent is to reduce the attractiveness of those activities (tobacco and alcohol come to mind, in addition to gambling)