[peteypab89]

Just a rant here, but I feel like there is a clear difference between taxing someone's earnings from a job made possible by a country, as opposed to taxing winnings on gambling. With the movement to make sports gambling legal in the U.S., I feel like it's going to become nearly impossible to turn a profit now that Uncle Sam is going to be sniffing out every penny. The government didn't help any of us find an edge on a game, how is it ethical that they get yet another cut? Like they don't take enough of our money already..... I'll be staying offshore. Thoughts?

[Foxx]

I agree, but I'm biased. And it sucks even more that technically all wins count as income and losses need to be put as itemized deductions unless filing as a professional. It can really wreak havoc on one's adjusted gross income and phase you out of a lot of deductions as well as the personal exemption. I doubt it will change anytime soon though. Horseplayers did get some relief recently as they changed some regulations regarding withholding requirements this past year.

[Roscoe_Word]

Government says:

"If you win, I want my cut."

"If you lose, tough shit."

[5918mike]

Hell no, it's bullshit they want to tax gambling winnings. I'm staying off shore as long as I can.

[SBR_Guest_Pro]

I saw a guy walk away from a poker table when a jackpot hit. Would have gotten over$1,200 and would have had to do the paperwork And pay taxes. He obviously didn't want to be apart of that

[recon1]

Just a rant here, but I feel like there is a clear difference between taxing someone's earnings from a job made possible by a country, as opposed to taxing winnings on gambling. With the movement to make sports gambling legal in the U.S., I feel like it's going to become nearly impossible to turn a profit now that Uncle Sam is going to be sniffing out every penny. The government didn't help any of us find an edge on a game, how is it ethical that they get yet another cut? Like they don't take enough of our money already..... I'll be staying offshore. Thoughts?

If you think income tax is legal, you shouldn’t have any problems paying the winning tax.
Nonetheless, beating the vig and the taxman is a loosing proposition and should keep offshores thriving.

[MinnesotaFats]

Its wrong in principle to tax earnings as well.

Jefferson wrote extensively about societies need to encourage as much production from individuals and cited taxation of ones labour as a deterrent. Boy was he right!

Corporate tax, sales tax, excise tax, property tax and toll tax should be the extent of govt fundraising.

[Jayvegas420]

If youre allowed to write off your loses its reasonable to think you can be taxed on winnings