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Forum: General Racing Discussion

06-28-2017, 03:34 PM

Replies: 116

George Krikorian Drops Bombshell at CHRB Meeting

Views: 15,827

Posted By dilanesp

As a policy matter, I favor pool taxation and NO...

As a policy matter, I favor pool taxation and NO income tax for winnings. I think that's both the fairest way to tax gamblers AND solves all the collection issues. (Indeed, that's how states tax...

Forum: General Racing Discussion

06-28-2017, 01:25 PM

Replies: 116

George Krikorian Drops Bombshell at CHRB Meeting

Views: 15,827

Posted By dilanesp

Yeah, the notion that "double taxation" is some...

Yeah, the notion that "double taxation" is some horrible thing that must be avoided is silly. All money gets taxed multiple times, usually after a transfer.

Forum: General Racing Discussion

05-26-2017, 08:20 PM

Replies: 116

George Krikorian Drops Bombshell at CHRB Meeting

Views: 15,827

Posted By dilanesp

The second paragraph subtly misstates my...

The second paragraph subtly misstates my position.

I didn't say that the IRS was confident that successful or serious bettors kept good records. Rather, I said that a person cashing a larger wager...

Forum: General Racing Discussion

05-26-2017, 07:11 PM

Replies: 116

George Krikorian Drops Bombshell at CHRB Meeting

Views: 15,827

Posted By dilanesp

How is it illogical? 1099's in general, are...

How is it illogical?

1099's in general, are about ensuring various forms of non-wage income are reported to the IRS.

So the question you have to ask yourself is why, specifically, would there...

Forum: General Racing Discussion

05-26-2017, 05:30 PM

Replies: 116

George Krikorian Drops Bombshell at CHRB Meeting

Views: 15,827

Posted By dilanesp

The 300 to 1 reporting limit, and the withholding...

The 300 to 1 reporting limit, and the withholding limits, are unique to particular forms of gambling. While they are part of the larger broad category of 1099 reporting, they are special rules that...

Forum: General Racing Discussion

05-26-2017, 04:34 PM

Replies: 116

George Krikorian Drops Bombshell at CHRB Meeting

Views: 15,827

Posted By dilanesp

There's slightly more to it than that. Let's...

There's slightly more to it than that.

Let's go back to Randall's distinction.

You have a win bettor who bets $1000 to win on a 10 to 1 shot and wins $10,000.

And then you have a guy who...

Forum: General Racing Discussion

05-26-2017, 01:22 PM

Replies: 116

George Krikorian Drops Bombshell at CHRB Meeting

Views: 15,827

Posted By dilanesp

I mean, the historical reason was an attempted...

I mean, the historical reason was an attempted distinction between lottery-style windfalls and ordinary bettors cashing bets,

When the exotic wager that routinely paid 300 to 1 and which could be...

Forum: General Racing Discussion

05-26-2017, 11:38 AM

Replies: 116

George Krikorian Drops Bombshell at CHRB Meeting

Views: 15,827

Posted By dilanesp

All money is taxed multiple times, Randall. ...

All money is taxed multiple times, Randall.

Obviously successful gamblers should pay taxes. The way we do it now is dumb (a small tax on the pools would raise the same amount as we do now without...

Forum: General Racing Discussion

05-25-2017, 07:30 PM

Replies: 116

George Krikorian Drops Bombshell at CHRB Meeting

Views: 15,827

Posted By dilanesp

This suffers from a pretty basic math error. ...

This suffers from a pretty basic math error.

Imagine the following two games:

Game 1 involves incredibly hard to hit big payoffs with a negative takeout-- i.e., you actually make money on the...

Forum: General Racing Discussion

05-25-2017, 02:50 PM

Replies: 116

George Krikorian Drops Bombshell at CHRB Meeting

Views: 15,827

Posted By dilanesp

One way or another there are going to be far...

One way or another there are going to be far fewer racing dates in SoCal. Krikorian just has a better proposal on how to do it. But if we don't go to one circuit, SA is just going to give up racing...

Showing results 1 to 10 of 10

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