Not so fast. I've heard that Canada doesn't tax poker winnings. So if you're winning and claiming it then the tax advantage alone could negate currency differences. Imagine winning a tournament for $100k tax free. Or earning $100k playing $10/$20 as in your initial post. Obviously other considerations such as rake and player pools come into account as well.
Oh true. How much tax does the U.S. pay on winnings?
I'm not a tax expert but it probably depends on your other income and tax bracket. For 2019 I believe the top rate is 37%. Many players at cash games probably fail to keep accurate win / loss records and couldn't tell you if they were winning or not though (most are probably not). But if you win a big tournament or hit a bad beat the casino will report it and the government will have a record of it. You'll have to show claim the winnings and figure out the tax burden although in most states you can offset winnings with losses where applicable.
Too much, they have a $1/2 trillion military budget they need to fund, and they can't touch their universal health care budget....Oh wait....my mistake.
[emoji23]Too much, they have a $1/2 trillion military budget they need to fund, and they can't touch their universal health care budget....Oh wait....my mistake.
We pay $0 tax on winnings in Australia also.
