Could it be possible there may be no gambling taxes on winnings in the US?

Shells

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A couple of days ago, en route to one of Pennsylvania's casinos, President Donald Trump was asked if he might consider eliminating the gambling tax by an unidentified journalist:

President Trump answered in what appeared to be a joking manner, "No tax on gambling? I don’t know. We have ‘No Tax on Tips,’ no tax on Social Security, and we have no tax on overtime. No tax on gambling winnings? I don’t know about that,” Trump said with a smile and a laugh. “I’m going to have to think about that.”

Of course, there is much more to the reporting, but it certainly prompted media outlets to share their thoughts.

Check out the article on Casino.org

President Donald Trump Jokes About Abolishing Taxes on Gambling Winnings​


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Europe (mostly) did it so why couldn't US do the same? But better not say more before this turn into ****tics.
 
MK_

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... I'd love to share my thoughts... in the meantime I've got a lot a bridge for sale if anyone's interested🤔
 
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MK_ said:
... I'd love to share my thoughts... in the meantime I've got a lot a bridge for sale if anyone's interested🤔
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Is it a really big bridge... the biggest bridge in the country.... probably in the World! Yes.... it's a HeeeeYUGE bridge.... the Huge-est!
 
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Sunz of Beaches

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Well with Mr. Donald Trump, President of the United States, you never know. Says this and that but in the end nothing happens. Months ago this could have been another possibility for a fake election promise 😅
 
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  • #6
Trump is a man who has seven Fridays a week. Nothing he says has any meaning whatsoever. Today it's one thing, tomorrow another, the day after tomorrow something else, depending on his mood.
 
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I wish, maybe we would get a mini poker boom. As it is right now many pros will be playing less.
 
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  • #8
There should be no taxes on gambling winnings. Players loose a lot & winnings just compensate. Casinos should just be taxed higher.
 
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  • #9
No taxes on gambling would be considered unamerican.

TACO

(y)
 
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  • #10
Subject to constant winnings, the tax should of course be... But with costs and losses! )
 
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Really doubt it will come true but would be nice for you guys
 
Shadow6969

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  • #12
Not only in US but in all countries 🤔
 
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Probably never going to happen but I am sure there are many loopholes around paying them. Just got to be smart enough or have enough money to pay someone to figure it out.
 
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  • #14
In Austria, gambling winnings are generally tax-free, so players don’t have to pay taxes on their winnings. Because of this, some professional poker players choose to move to Austria, where they can keep their full earnings without the burden of gambling taxes.

However taxes are collected “in front” from the company, not from the individual player.
 
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  • #15
I doubt that gambling winnings will ever be tax free…there’s just too much money involved…football gambling alone is a multibillion dollar business…no tax on overtime, social security and tips generally affect lower income earners, whereas, those who gamble (for the most part, excluding professional gamblers) have sufficient expendable income, and gambling is a form of entertainment, whether it is to add excitement to watching sports or on vacation at a casino.
 
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  • #16
Shells said:
A couple of days ago, en route to one of Pennsylvania's casinos, President Donald Trump was asked if he might consider eliminating the gambling tax by an unidentified journalist:

President Trump answered in what appeared to be a joking manner, "No tax on gambling? I don’t know. We have ‘No Tax on Tips,’ no tax on Social Security, and we have no tax on overtime. No tax on gambling winnings? I don’t know about that,” Trump said with a smile and a laugh. “I’m going to have to think about that.”

Of course, there is much more to the reporting, but it certainly prompted media outlets to share their thoughts.

Check out the article on Casino.org

President Donald Trump Jokes About Abolishing Taxes on Gambling Winnings​


GettyImages-2250363525-858x572.jpg
Click to expand...

Lol - we have to pay taxes on 80% of our Social Security - he has no idea what we pay taxes on.
 
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