Your new WSOP champ is a chump. - Page 21

Hyperion · #**201** 07-20-2005, 06:36 AM

Australia has a 47.5% top income tax rate which Joe will face if he's classified as a 'professional gambler.' Non professional gambling winnings attract no tax.

Taxman deals in on poker bounty

Morpheus · #**202** 07-20-2005, 07:12 AM

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Australia has a 47.5% top income tax rate which Joe will face if he's classified as a 'professional gambler.' Non professional gambling winnings attract no tax.

Taxman deals in on poker bounty

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I got a funny feeling that if Hashem only played poker about 5 days /year, he will still be classified as a professional poker player. At least, that is the way it works in the USA. Funny things happen like that when the government is involved.

duma · #**203** 07-20-2005, 05:01 PM

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He didn't win 7.5 million by the way. He won like 3.7 million after taxes. Taxes are a bitch. You shouldn't have to tip at all and it looks ridiculous to see it on TV. I saw that one guy, Ted Lawson, who won the Omaha last year, pull some money out of his wallet immediately after winning and he looked like a moron on TV for doing that.

I won $2000 on the blackjack table many times but also lost a good sum and got into a huge argument with this Asian dealer for only tipping $5 after such a win. I only played 30 minutes. I got up and she started bitching and I said, "look, I only played 30 minutes. You got paid decent for 30 minutes of work. " She kept bitching and bitching and wouldn't stop so I walked to the cashier.

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Another moron.

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beggers cant be choosers. if this dealer pulled this [censored] on me i would call the floor over and get that bitch repromanded. then i would take back the $5 tip since it was soooo insulting in the first place and she can have none!

rabbit143 · #**204** 07-25-2005, 04:59 AM

This entire thread omits the most important facts.

When someone from a country outside the U.S. which does not have a tax treaty in place, wins a large amount of money, the casino automatically withholds 30% for the authorities.

In this case that amounts to approx US$2.25 mill or AU$3 mill. Whether or not this money is ever returned is debateable so Joe is down to just over US$5.25 mill to start with.

I doubt any previous WSOP winner has had to contend with this sort of thing just after winning the big one.

As has been mentioned before on this thread, tipping is really only an American phenomenon as in Australia for example you are not allowed by law to tip Casino staff.

If you add that to the millions already taken out of the prize pool for the express purpose of tips for staff, something which I imagine is a first in WSOP history, I'm surprised he gave anything at all.

I understand how locals would interpret his actions as they are used to tipping in day to day life, buts lets see their reactions after Uncle Sam has just had his palms greased for a cool $2.250.000.

Perhaps they may not be feeling so generous.

david050173 · #**205** 07-25-2005, 01:25 PM

This topic is sort of dead but if I win the main event, uncle Sam is taking ~35% and california is taking another 9% so don't see a foriegn winner paying more taxes than past US winners. The fact that you have already tipped would be the reason that I wouldn't tip twice.

Homer · #**206** 07-25-2005, 01:46 PM

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12k for a weeks worth of work dealing cards... and they're bitching?

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I'm sure you have never bitched about how much you made at a particular job. Gimme a break.

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They're [censored] poker dealers. If they're bitching about making "only" 12K in a week, they're [censored] morons. Gimme a break.

Wake up CALL · #**207** 07-25-2005, 05:52 PM

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This topic is sort of dead but if I win the main event, uncle Sam is taking ~35% and california is taking another 9% so don't see a foriegn winner paying more taxes than past US winners. The fact that you have already tipped would be the reason that I wouldn't tip twice.

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Actually Uncle Sam is only taking:

15% of the amount over 7,300 up to $29,700
25% of the amount over 29,700 up to $71,950
28% of the amount over 71,950 up to $150,150
33% of the amount over 150,150 up to $326,450
Then 35% of the rest.

Not as bad as you thought after all. [img]/images/graemlins/smile.gif[/img]

technologic · #**208** 07-25-2005, 07:59 PM

obviously the real solution would be to have everyone with a laptop at the world series and play the series on a network so dealers aren't necessary

or robotic dealers

but then would we have to tip the technicians?

david050173 · #**209** 07-25-2005, 08:11 PM

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This topic is sort of dead but if I win the main event, uncle Sam is taking ~35% and california is taking another 9% so don't see a foriegn winner paying more taxes than past US winners. The fact that you have already tipped would be the reason that I wouldn't tip twice.

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Actually Uncle Sam is only taking:

15% of the amount over 7,300 up to $29,700
25% of the amount over 29,700 up to $71,950
28% of the amount over 71,950 up to $150,150
33% of the amount over 150,150 up to $326,450
Then 35% of the rest.

Not as bad as you thought after all. [img]/images/graemlins/smile.gif[/img]

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Your assuming I am unemployeed. Besides the ~(about) pretty much sums up the difference those lower rates are going to make. Now the big question is can they make you file as a pro (hello medicare taxes [img]/images/graemlins/grin.gif[/img])

xniNja · #**210** 07-26-2005, 03:24 AM

How many dealers were there? If there are 100 dealers $11,000 each seems like more than enough gratuity. The only reason I might tip is because I wouldn't want bad publicity with all the TV and internet offers coming in [img]/images/graemlins/grin.gif[/img] ... I'd consider it an investment.