Why are lottery winning taxed but in Canada its tax free?
Really? Lottery winnings aren't taxed in Canada. Wow. Well our government see any kind of winnings as income, so they tax the heck out of it.
I used to enjoy watching game shows and people would win these wonderful prizes and then I realized more than likely, unless they were rich--they would have to sell the stuff because they would be taxed on it like it was income. So some little granny wins $50,000 worth of items on Price is Right--and she has to pay income tax on the $50,000 as if it was cash income. Fair--no, but what can you do?
because in canada , the government realises that though the winnings aren't taxed, you will spend the money which will then be taxed. by not taxing the winnings it also gives more people a reason to play.
by Film Fanatic 6035 years ago
If somebody bought you a winning lottery ticket would you give them a percentage of the winnings.
by Nick Lucas6 years ago
I don’t understand this concept that Obama and many liberals keep clinging to…..So allow me to make it simple. If everyone is taxed at say 10% people who make more do pay more as 10% of a greater amount is...
by TheHoleStory2 years ago
What would you do with your winnings and buy if you won the Power-ball lottery jackpot?
by Jtdfree5 years ago
The IRA / 401K / 403b scam of course!! Corporate America and politicians in the pocket of Corporate America stole the reasonable, comfortable retirement pensions that many enjoyed and replaced it with "the...
by hyltoncarolyn8 years ago
What if i do not have an annual income-at what rate are my short term gains going to be taxed
by K Partin8 years ago
The home this year is in the South West, New Mexico I believe. Not only do you win the home, but a new GMC Terrain and $500.000. Would you keep it? Could you afford to? Are you going to HGTV.com to enter? What are your...
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