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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (193732)	11/17/2022 3:17:15 PM
From: maceng2	1 Recommendation Recommended By Pogeu Mahone Read Replies (2) \| Respond to of 217779

<<and for us Canucks our lotteries are tax free :)>> Now there is an interesting one. In the UK the Lottery is "tax free" too. The UK Inland revenue pages are far too opaque on the matter. This site looks good. Do you pay tax on lottery winnings? (UK) - Nuts About Money In the 1970's there was a 4.5% on all betting. Win or Lose. So Tobacco and Alcohol are regarded as bad for your health overall and taxed at immense amounts. Goes up almost every year in percentage terms. As does the tax of fuel used for vehicles, and of course there is the old 20% VAT (Value Added Tax) on everything including silver but not gold. Funny we still have that tax after leaving the European Union. BUT there are downsides of gambling, especially excessive gambling, like there is also on excessive alcohol consumption. Just as bad, could even be considered as worse. So a small gambling tax, if the funds are for the sole use in the compensation of damage caused to the community by the abuse of gambling addiction, is maybe a good idea... for everyone. 4.5% was doable. Historical gambling bookie tax sidenote: In the 1970's, most business did not have calculators. The bookmaking business "Turf Accountants" generally didn't use them, and we were trained not to use them. Most of the "Settling" activity was crossing off losers, so that didn't need a computer. There were a few "New Age" rebels who used an "electronic calculator" but they were horrifically expensive, used a lot of batteries. Generally an experienced Settler could settle a 57 bet Heinz winner faster than someone could even press the buttons on a calculator, even to enter the raw data. A Heinz bet was actually an easy bet to settle, there were far more complex conditional multi stage bets too. Those who used the new "electronic calculator" were regarded as both a showoff and a prat -g- So all gambling was taxed at 4.5%, win or lose. We were trained to always be honest, and we were. However, an amusing pastime was to explain to punters that it made no difference at all to "pay the tax" on a bet before or after the win. In essence, "paying the tax" on a bet just meant you paid 4.5% more on the amount you decided to gamble. Few understood that though. The betting slip had a section on it where the customer could select to "pay the tax" on a bet, and in the case of a win "saved a lot of money on the tax". It was a subtle way for the bookie to try and get everyone to gamble an extra 4.5% then they really wanted to. Yeah, settling the 4.5% tax on any bet was Settled mentally in a few tenths of a second. Use of a piece of paper and a pencil was regarded as pedestrian, never mind some fool playing with his or her calculator gadget.