[jhill3535]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
80k in winnings here is probably worth 60k there, even with taxes taken out.

[/ QUOTE ]

That might be so, its certainly cheaper to live in the US, but do you really only pay 25% tax? ANyhow, we get free healthcare, low crime, gun control and less fat kids (I love the US but I hate fat children and the US is full of them)

Anyhow, I read that to avoid US taxes you have to give up US citizenship even if you move abroad, who would want to do that for the love of poker I wonder!

[/ QUOTE ]

No, we pay far more than 25%, its just not all called federal income tax. We have real-estate taxes, state income taxes, social security tax (~9% right there) on your wages, sales tax, etc...etc, gas taxes, alcohol tax, cigarette taxes, (basically most vices are taxed in some way). Also, as your income goes up so does your income tax rate. We are nickel and dimed to death with taxes.


[/ QUOTE ]

It is pretty safe to assume that the overall USA tax rate approaches 50% of Gross Income when all taxes are taken into account.