wsop taxes

#1 15th November 2008, 5:27 PM

Just read this on cardplayer.com:

"If Denmark winds up with Eastgate’s tax dollars, Eastgate will get to keep only $2,491,871 of the $9.1 million paid to first."

Holy crap! He gets to keep roughly 30% of his winnings. No wonder he wasn't excited when he won. He knew he wasn't going to see most of what he won anyway. And I thought the US govt sucked when it came to poker related activities.

#2 15th November 2008, 5:56 PM

WOW 30% is so little...only $2.4 out of $9.1

#3 15th November 2008, 6:00 PM

Wow-thats remarkable. I would figure a US player to keep about 75% of his winning or an amount similar to lotto.

#4 15th November 2008, 6:14 PM

they talked about this on 2+2 pokercast. Denmark has a 75% tax rate. there's a little debate as to where would the money be taxed at

#5 15th November 2008, 6:24 PM

If I was Eastgate, I'd move to Las Vegas and keep my monies.

#6 15th November 2008, 6:40 PM

move to Canada, get 0% taxed off your 9 million, move back to denmark with full 9 million, profit.

#7 15th November 2008, 7:11 PM

Quote:

Originally Posted by Monoxide

move to Canada, get 0% taxed off your 9 million, move back to denmark with full 9 million, profit.

or UK since gambling tax was abolished

I thought if you worked abroad you paid the taxes of that country

#8 15th November 2008, 7:28 PM

Quote:

Originally Posted by Monoxide

move to Canada, get 0% taxed off your 9 million,

What?........... WHAT?

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#9 15th November 2008, 7:32 PM

and I thought we were getting a crap deal but i guess we're not the worst ones....

#10 15th November 2008, 8:45 PM

Think about that the next time you complain about Obama's tax plan.

BTW - I think the base tax rate is around 40-45%, and then there is a luxury tax that ends up taking 25-30% more. It also applies on things like major purchases, like Harley-Davidson motorcycles. You basically end up paying 2X the list price in the end.

#11 15th November 2008, 8:57 PM

Quote:

Originally Posted by arahel_jazz

Think about that the next time you complain about Obama's tax plan.

BTW - I think the base tax rate is around 40-45%, and then there is a luxury tax that ends up taking 25-30% more. It also applies on things like major purchases, like Harley-Davidson motorcycles. You basically end up paying 2X the list price in the end.

I don't follow world governments really close, but from watching a lot of the shows detailing what other countries accomplish, at least their taxes seem to be put to good use. Here in the US the abuse of tax revenues is so extensive that any tax to the government is too much.

Sure, there are a few good programs and expenditures. Think what we could do here if our politicians really were doing what they were elected for.

#12 16th November 2008, 8:28 PM

Crap deal, poor guy. I wonder if he is going to move to another coutry temporary or otherwise, to avoid that tax somehow. Screw it, I would. That's far too excessive.

#13 16th November 2008, 8:49 PM

Could he keep his money at Harrahs in a safe or players account and avoid paying taxes temporarily untill he decided what to do. I would move to one of the counries where the tax is lower, someone earlier listed canada. Time to move!!

#14 16th November 2008, 9:27 PM

"Something is rotten in the state of Denmark."

Pretty sure this is what Shakespeare was referring to.

#15 16th November 2008, 9:49 PM

i'm sure he gets some good benifits, healthcare and pension
also gets to eat those wonderful pastries that their famous for
danishes, mmm

#16 16th November 2008, 10:01 PM

he moved to the uk during the 4 months, he didnt pay all that tax...

#17 16th November 2008, 10:49 PM

UK rules.. Makes no difference to me winning no money at all though¬

I suck!

#18 17th November 2008, 2:55 AM

wow there is no way i would flip the hell out i play all that to win allmost a quarter of the money .how can the gov. do all that i mean that is high way robbery they should of used a gun .

______________
you cannot change the cards your delt just the way you play them RANDY PAUSCH

#19 17th November 2008, 3:24 AM

Time to move. There is no way I let them take 75%. I would have found a way to get around that. !!!

#20 17th November 2008, 1:18 PM

wow , 30%?

he should be king of denmark now

#21 17th November 2008, 4:11 PM

haha that is messed up.. i didnt think pokerwinnings got taxedsince you won it and its real peoples money they put in?

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