Beat - The US Dollar

[DoTheMath]

The Canadian dollar just hit a 47 year high vs. the US Dollar.

From Canadian Press:
[ QUOTE ]
The loonie soared to heights not seen in nearly half a century Monday, briefly rising above US$1.05 before settling just below that mark, at 104.96 cents US.


That's a gain of more than a cent since Friday's 103.93 close. The last time the currency was that high was 1960 - when John Diefenbaker was prime minister and Dwight Eisenhower was still in the White House.


[/ QUOTE ]

[Zele]

Bright side: bigger budget Vegas trips (also Japan/Mexico/Zimbabwe).

[jono]

Canack dollar is worth more now isn't it

[excession]

play on euro or brit sites?

i am seriously considering it - so far as I can see the £1/2 Crypto tables play much the same as the $1/$2 ones at Stars or FTP these days - I know the rake cap is £3 but that only adds a small amount to rake overall - compared to a 2.07 winnings multiplier anyway

[EvanJC]

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Just had this flash up on google bar:
http://news.bbc.co.uk/1/hi/business/7069087.stm

"The UK pound has hit its highest level against the US dollar in 26 years."

"The pound rose as high as $2.066 in earlier trading, before paring gains slightly to $2.064."

My expenses are in £s. My earnings are in $. Urgh. Poker is getting harder and the as the $/hr drops so does the value of that $. Double Urgh.

[/ QUOTE ]

untaxed wnningslkdjf

[bicyclekick]

yeah cept you dont have to pay taxes on your winnings...boo hoo...us US players lose 35% automatically. Not that our lives are that rough either just saying you're still better off than us in that ssense

[[Phill]]

Not my fault my government doesnt see the "logic" in taxing gambling winnings [img]/images/graemlins/laugh.gif[/img]

[RevAgain]

[ QUOTE ]
Not my fault my government doesnt see the "logic" in taxing gambling winnings [img]/images/graemlins/laugh.gif[/img]

[/ QUOTE ]

For once they're quite right. Apart from the difficulty in collecting taxes from people who are winners at gambling, a very very small percentage, it's grossly unfair to tax gambling winnings and not allow you to write off gambling losses against your tax bill.

The situation in the States and other places that tax gambling winnings is disgraceful. There are already taxes on all the profits made by the casinos/lottery vendors etc. and presumably a percentage of lottery sales go direct to the state too. Taxing the winners on top, it not allowing losers to write off, is a sick joke.

A similar situation exists in the UK with massive duty being levied on fuel, cigarettes, alcohol etc., then VAT @17.5% (sales tax for those in the US) being levied on the sale price, when the Government's own duty charges makes up the vast majority of that price!

In terms of petrol no we have not seen the effect since the price rose by almost 30% which gives you an indication of how mush our dollar has strengthened against yours in the past 10 months.

It doesn't bother me that much. As I have noted previously I dont' receive a lot of income from poker. And play primarily for entertainment value.

[bobman0330]

[ QUOTE ]
it's grossly unfair to tax gambling winnings and not allow you to write off gambling losses against your tax bill.

[/ QUOTE ]

It's only really unfair for professional gamblers, and most pros shouldn't have losing years...