Would Big Money Change You?

Discussion in 'Philosophy & Psychology' started by Thomas Stearn, Jun 5, 2019.

  1. Emma Smith

    Emma Smith Very Well-Known Member
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    “I don't know much about being a millionaire, but I'll bet I'd be darling at it.”

    ― Dorothy Parker
     
    #46
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  2. Nancy Hart

    Nancy Hart Veteran Member
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    Remember good old John Beresford Tipton? :).. Just checked the inflation calculator out of curiosity, and it would be like $10 million today. . They would have to call it The Billionaire.

     
    #47
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  3. Tom Galty

    Tom Galty Very Well-Known Member
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    In Las Vegas and I play the WSOP and win $9million I will also not have to pay any tax.

    Nor will a Canadian.

    An American will as some other countries(think if you are from Norway you pay 70%) will pay tax

    Seems that the Americans tax you at the rate of your countries tax rate on gambling winnings.

    Very odd
     
    #48
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  4. Holly Saunders

    Holly Saunders Veteran Member
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    70% Tax in Norway?... 70% ? really ? WoW!!!!!!
     
    #49
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  5. Tom Galty

    Tom Galty Very Well-Known Member
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    This is odder and odder.....No gambling tax is levered in Norway But if you win money abroard the Norway will tax you at 70% but then the Americans tax you as well

    Wonder when the winner goes home is he taxed again.

    https://www.gamblingjudge.com/norway-gambling-sites-and-laws/
     
    #50
    Last edited: Jun 14, 2019
  6. Holly Saunders

    Holly Saunders Veteran Member
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    OMG !!!! :eek:
     
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  7. Tom Galty

    Tom Galty Very Well-Known Member
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  8. Holly Saunders

    Holly Saunders Veteran Member
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    The average non professional pays 27%...that's still HIGH!!! wow!!
     
    #53
  9. Frank Sanoica

    Frank Sanoica Veteran Member
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  10. Tom Galty

    Tom Galty Very Well-Known Member
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    If you are British or from Canada you do not pay any Tax.

    The Americans tax you at the rate that is charged in your country.

    Both the UK and Canada have no tax on gambling winnings.
     
    #55
  11. Holly Saunders

    Holly Saunders Veteran Member
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    Yes I know...I was referring to the Norwegian average tax payer..@27% according to your link...:)
     
    #56
  12. Holly Saunders

    Holly Saunders Veteran Member
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    Incidentally what's the percentage of tax on winnings for Americans in the USA ?
     
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  13. Beth Gallagher

    Beth Gallagher Veteran Member
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    It depends. Most lottery payouts can be taken as a lump sum or in installments. Also, the amount of the winnings has to be considered... but the taxes on a substantial lottery win would be hefty.
     
    #58
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  14. Bill Boggs

    Bill Boggs Veteran Member
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    I'm sure big money would change m and probably for the worse.
    Time and time again I've seen families torn apart over fewer
    dollars than. I kI won a large amount, somewhere down the road
    I'd probably wish I had not won any at all. Don't know, just going
    by what I see when others have won. But maybe not. We can
    guess but I think we really don't know.
     
    #59
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  15. Holly Saunders

    Holly Saunders Veteran Member
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    I wouldn't tell any member of my family or any friends ....except for my o/h and my daughter...!!
     
    #60
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