Exactly, if it goes in the right direction then I wouldn't mind having a big tax imposed on me, just look at some of the successful and 1st class economy in Europe, they make free healthcare and colleges hell some even pay students to attend college because they have high taxes and people sees the taxes being used the right way.
True, I won't think that it's too much if they tax as we gamble since I was in my childhood days, there's already gambling and there's already taxation for everything unless you get a treatment that you'll be getting a tax free winning. Well, just forget about winning. It happens with small bets so the tax that's being imposed with that isn't that much but for those people that win a lot, they surely are feeling some regret if they're imposed with taxes. But that's normal, the taxes go to what it's needed to go and as long as you see that there's progress and development from what it's being used, that's totally fine. 
Topic: Taxes on gambling send the right message? - page 6. (Read 3461 times)
Every increase in taxation is really good for a country as long as it will serve the right purpose. It's a valid point that government will rely on their source of revenue for those industries that are not affected during the pandemic and one of those is gambling.
As long as the added percentage given is reasonable, gambling owners will fairly accept it without a problem.
Exactly, if it goes in the right direction then I wouldn't mind having a big tax imposed on me, just look at some of the successful and 1st class economy in Europe, they make free healthcare and colleges hell some even pay students to attend college because they have high taxes and people sees the taxes being used the right way.As long as the added percentage given is reasonable, gambling owners will fairly accept it without a problem.
but at least you do know that it does have specific benefits on a certain country and that depends on what type of government you do have its neither a corrupted one or really that mindful about development
on where those taxes is been applied on the right way then this wont really be an issue for most gambling site or even those typical business owners.
Every increase in taxation is really good for a country as long as it will serve the right purpose. It's a valid point that government will rely on their source of revenue for those industries that are not affected during the pandemic and one of those is gambling.
As long as the added percentage given is reasonable, gambling owners will fairly accept it without a problem.
Exactly, if it goes in the right direction then I wouldn't mind having a big tax imposed on me, just look at some of the successful and 1st class economy in Europe, they make free healthcare and colleges hell some even pay students to attend college because they have high taxes and people sees the taxes being used the right way.As long as the added percentage given is reasonable, gambling owners will fairly accept it without a problem.
Every increase in taxation is really good for a country as long as it will serve the right purpose. It's a valid point that government will rely on their source of revenue for those industries that are not affected during the pandemic and one of those is gambling.
As long as the added percentage given is reasonable, gambling owners will fairly accept it without a problem.
Exactly, if it goes in the right direction then I wouldn't mind having a big tax imposed on me, just look at some of the successful and 1st class economy in Europe, they make free healthcare and colleges hell some even pay students to attend college because they have high taxes and people sees the taxes being used the right way. As long as the added percentage given is reasonable, gambling owners will fairly accept it without a problem.
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I believe the underground deals were among the reason why the government increases the tax payment of casinos and the last time I checked we have some government officials who are also the customers of the casino so they understand everything about their activities. Therefore, it will be hard for the government to implement tax rates that will make them evacuate.Underground deals are not new and with how the those who imposed the rules should act in favor of the government, applying additional taxes maybe hurting the business,
But there's something behind that will keep those owners to continue dealing and continue to operate, business as usual.
The message of the government is very simple, when you have a business, you are obliged to pay taxes, and since they are the ones who regulate and implement it, they can also amend taxes and most likely it's an increase than the decrease, and as an investor, you have to deal with it, choose whether you continue or you stop because you can't anymore pay the taxes or your business is not profiting anymore.
It sounds like slavery. The government has a supreme power that forces people to pay increasing taxes along the years otherwise they can't run their businesses or even live normally, just like the punishment for slaves when they didn't work or didn't work properly. Furthermore, governments never detail in a easy way where all these taxes are going to.Every product you purchase, every service you hire, every activity you execute have a tax attached. So it would be also natural to have an information about where this money is going when paying these taxes, what doesn't happen. The message taxes send is: when force comes on the scene, right goes packing.
I'm not sure any business owner can accept any tax increase without problems! Even if the casino has super profits, I'm sure they pay huge taxes as it is... So why should they accept a tax increase? And this is me talking about civilised countries, especially since in such countries taxes are actually used properly!
Running a casino is not a very safe business. On paper, the house advantage may be 0.5% or 1.0% and the owner is supposed to gain a certain percentage of the overall revenue as taxes. But in real world, that may or may not happen. In some years, the customers may be lucky and they may win a few large jackpots. And this will push the casino business in to loss. On top of that, they need to take care of the other expenses, such as wages for the employees and maintenance of the slot machines. And finally, the pandemic has made sure that the revenues are only a fraction of what they were earlier. This is not the right time for an increase in taxes.
The house edge you are talking about is just a small percentage, there are still plenty of games that have a house edge and I think casinos would stop if they are operating profitably, they know their business so they know their income and expenses, and actually regardless of the house edge, as long as they keep winning a casino would remain profitable.
Try to look at our favorite online casinos, some have exists for years and already have millions of dollars wagered to them, so we can assume that they make big profit as well.
I'm not sure any business owner can accept any tax increase without problems! Even if the casino has super profits, I'm sure they pay huge taxes as it is... So why should they accept a tax increase? And this is me talking about civilised countries, especially since in such countries taxes are actually used properly!
Running a casino is not a very safe business. On paper, the house advantage may be 0.5% or 1.0% and the owner is supposed to gain a certain percentage of the overall revenue as taxes. But in real world, that may or may not happen. In some years, the customers may be lucky and they may win a few large jackpots. And this will push the casino business in to loss. On top of that, they need to take care of the other expenses, such as wages for the employees and maintenance of the slot machines. And finally, the pandemic has made sure that the revenues are only a fraction of what they were earlier. This is not the right time for an increase in taxes.
The message of the government is very simple, when you have a business, you are obliged to pay taxes, and since they are the ones who regulate and implement it, they can also amend taxes and most likely it's an increase than the decrease, and as an investor, you have to deal with it, choose whether you continue or you stop because you can't anymore pay the taxes or your business is not profiting anymore.
better to completely stop operation or stop business than on going further.As a business owner then you wont really be having no choice but rather to deal or agree on whats being required because
that would really be their requirement before you can open up a business or replacing the older one.If you cant deal with it then its your choice neither you do stop or agree as simple as that.
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Yes. The rate tax government gave the casino owner is no something they can't handle and I'm sure the government understands how much they are making before increasing their tax rate and the level of revenue the government are getting through casino, I believe they will never do something that will make the casino business evacuate
There's always basis in terms of placing or implementing taxes, sure deal that behind that we don't know what are the conditions, mostly happened with small time casinos.
Underground deals to make sure that the permits will granted and the house will facilitate without any problems.
However, other countries simply set high taxes to these activities, which I think is a false morality, as if by paying these activities can be less questionable. (Note: I personally do not question regulated gambling).
The "sin tax" is a pretty common way to profit from behavior you would like to curb as a government. I actually think it's a good way to handle the situation. Rather than force your citizens to do thinks "underground" and risk their safety engaging in business with possibly unscrupulous characters, they just have to pay insane taxes. This also probably helps the losers a bit, as they can at least get a decent tax break for a run of bad luck. In the US, some states have some pretty crazy sin taxes on alcohol and tobacco that make it difficult for some people to engage in those activities.
Let's assume you are broke and you want to do something the government would like you to rather not to. So the government raises insane taxes, the taxes at some point cause you to behave the same way as a prohibition would cause you to behave.
Well, the government usually set up a fair tax for the startup or new business since the business will create more job opportunity and we shouldn't compare gambling, narcotics, and alcohol tax because the owner is making huge money from it.I guess there is an equilibrium as or a quasi equilibrium, affecting an increasing number of people with rising taxes. Of course, billionaires will never care. They would pay a 99% tax just for the lolz depending on the amounts they are gambling, unless they put existential money on the line but that is hard to imagine for a billionaire.
For the average person, a tax rising towards 100% will affect more and more people the same way a prohibition would affect them, entailing the same courses of action for both the high tax and the prohibition scenario.
Regarding your second point, I am not sure I understand. All three involve a lot of money. Gambling, narcotics and alcohol are massive industries although I would say that gambling produces less jobs than the alcohol industry.
Regarding the second point, what I said is that all the mention industries make a huge amount of money and the government totally understands what they are doing when they increase their tax rate.
What I'm saying is, the government has the most qualified people who evaluate the economy and they see the numbers, so they'll not likely make a bad decision to create a law without the right basis.
Every increase in taxation is really good for a country as long as it will serve the right purpose. It's a valid point that government will rely on their source of revenue for those industries that are not affected during the pandemic and one of those is gambling.
As long as the added percentage given is reasonable, gambling owners will fairly accept it without a problem.
I'm not sure any business owner can accept any tax increase without problems! Even if the casino has super profits, I'm sure they pay huge taxes as it is... So why should they accept a tax increase? And this is me talking about civilised countries, especially since in such countries taxes are actually used properly!
When we say taxes, it should not be for specific people only, it's for the same business and the implementation is equal, the tax due would only vary according to your profit, low profit means low tax and high profit means high tax and it will never be possible that you'll not pay any taxes on your business.
The message of the government is very simple, when you have a business, you are obliged to pay taxes, and since they are the ones who regulate and implement it, they can also amend taxes and most likely it's an increase than the decrease, and as an investor, you have to deal with it, choose whether you continue or you stop because you can't anymore pay the taxes or your business is not profiting anymore.
Every product you purchase, every service you hire, every activity you execute have a tax attached. So it would be also natural to have an information about where this money is going when paying these taxes, what doesn't happen. The message taxes send is: when force comes on the scene, right goes packing.
What I'm saying is, the government has the most qualified people who evaluate the economy and they see the numbers, so they'll not likely make a bad decision to create a law without the right basis.
Every increase in taxation is really good for a country as long as it will serve the right purpose. It's a valid point that government will rely on their source of revenue for those industries that are not affected during the pandemic and one of those is gambling.
As long as the added percentage given is reasonable, gambling owners will fairly accept it without a problem.
I'm not sure any business owner can accept any tax increase without problems! Even if the casino has super profits, I'm sure they pay huge taxes as it is... So why should they accept a tax increase? And this is me talking about civilised countries, especially since in such countries taxes are actually used properly!
When we say taxes, it should not be for specific people only, it's for the same business and the implementation is equal, the tax due would only vary according to your profit, low profit means low tax and high profit means high tax and it will never be possible that you'll not pay any taxes on your business.
The message of the government is very simple, when you have a business, you are obliged to pay taxes, and since they are the ones who regulate and implement it, they can also amend taxes and most likely it's an increase than the decrease, and as an investor, you have to deal with it, choose whether you continue or you stop because you can't anymore pay the taxes or your business is not profiting anymore.
What I'm saying is, the government has the most qualified people who evaluate the economy and they see the numbers, so they'll not likely make a bad decision to create a law without the right basis.
Every increase in taxation is really good for a country as long as it will serve the right purpose. It's a valid point that government will rely on their source of revenue for those industries that are not affected during the pandemic and one of those is gambling.
As long as the added percentage given is reasonable, gambling owners will fairly accept it without a problem.
I'm not sure any business owner can accept any tax increase without problems! Even if the casino has super profits, I'm sure they pay huge taxes as it is... So why should they accept a tax increase? And this is me talking about civilised countries, especially since in such countries taxes are actually used properly!
When we say taxes, it should not be for specific people only, it's for the same business and the implementation is equal, the tax due would only vary according to your profit, low profit means low tax and high profit means high tax and it will never be possible that you'll not pay any taxes on your business.
What I'm saying is, the government has the most qualified people who evaluate the economy and they see the numbers, so they'll not likely make a bad decision to create a law without the right basis.
Every increase in taxation is really good for a country as long as it will serve the right purpose. It's a valid point that government will rely on their source of revenue for those industries that are not affected during the pandemic and one of those is gambling.
As long as the added percentage given is reasonable, gambling owners will fairly accept it without a problem.
I'm not sure any business owner can accept any tax increase without problems! Even if the casino has super profits, I'm sure they pay huge taxes as it is... So why should they accept a tax increase? And this is me talking about civilised countries, especially since in such countries taxes are actually used properly!
However, other countries simply set high taxes to these activities, which I think is a false morality, as if by paying these activities can be less questionable. (Note: I personally do not question regulated gambling).
The "sin tax" is a pretty common way to profit from behavior you would like to curb as a government. I actually think it's a good way to handle the situation. Rather than force your citizens to do thinks "underground" and risk their safety engaging in business with possibly unscrupulous characters, they just have to pay insane taxes. This also probably helps the losers a bit, as they can at least get a decent tax break for a run of bad luck. In the US, some states have some pretty crazy sin taxes on alcohol and tobacco that make it difficult for some people to engage in those activities.
Let's assume you are broke and you want to do something the government would like you to rather not to. So the government raises insane taxes, the taxes at some point cause you to behave the same way as a prohibition would cause you to behave.
Well, the government usually set up a fair tax for the startup or new business since the business will create more job opportunity and we shouldn't compare gambling, narcotics, and alcohol tax because the owner is making huge money from it.I guess there is an equilibrium as or a quasi equilibrium, affecting an increasing number of people with rising taxes. Of course, billionaires will never care. They would pay a 99% tax just for the lolz depending on the amounts they are gambling, unless they put existential money on the line but that is hard to imagine for a billionaire.
For the average person, a tax rising towards 100% will affect more and more people the same way a prohibition would affect them, entailing the same courses of action for both the high tax and the prohibition scenario.
Regarding your second point, I am not sure I understand. All three involve a lot of money. Gambling, narcotics and alcohol are massive industries although I would say that gambling produces less jobs than the alcohol industry.
What I'm saying is, the government has the most qualified people who evaluate the economy and they see the numbers, so they'll not likely make a bad decision to create a law without the right basis.
Every increase in taxation is really good for a country as long as it will serve the right purpose. It's a valid point that government will rely on their source of revenue for those industries that are not affected during the pandemic and one of those is gambling.
As long as the added percentage given is reasonable, gambling owners will fairly accept it without a problem.
However, other countries simply set high taxes to these activities, which I think is a false morality, as if by paying these activities can be less questionable. (Note: I personally do not question regulated gambling).
The "sin tax" is a pretty common way to profit from behavior you would like to curb as a government. I actually think it's a good way to handle the situation. Rather than force your citizens to do thinks "underground" and risk their safety engaging in business with possibly unscrupulous characters, they just have to pay insane taxes. This also probably helps the losers a bit, as they can at least get a decent tax break for a run of bad luck. In the US, some states have some pretty crazy sin taxes on alcohol and tobacco that make it difficult for some people to engage in those activities.
But isn't there a harmful equilibrium between insanely high taxation and prohibition? I am sure there is!
Let's assume you are broke and you want to do something the government would like you to rather not to. So the government raises insane taxes, the taxes at some point cause you to behave the same way as a prohibition would cause you to behave. That is individual for every human being, but you could essentially apply an indifference curve to tax vs. prohibition and you would hit a point on the curve for almost every human being in the world. Maybe except for the billionaires who would never care about any tax once they are already a billionaire. Taxes aren't necessarily better than prohibition when it comes to fighting underground activities.
Yes. The rate tax government gave the casino owner is no something they can't handle and I'm sure the government understands how much they are making before increasing their tax rate and the level of revenue the government are getting through casino, I believe they will never do something that will make the casino business evacuate
There's always basis in terms of placing or implementing taxes, sure deal that behind that we don't know what are the conditions, mostly happened with small time casinos.
Underground deals to make sure that the permits will granted and the house will facilitate without any problems.
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Activity: 2660
Merit: 651
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However, other countries simply set high taxes to these activities, which I think is a false morality, as if by paying these activities can be less questionable. (Note: I personally do not question regulated gambling).
The "sin tax" is a pretty common way to profit from behavior you would like to curb as a government. I actually think it's a good way to handle the situation. Rather than force your citizens to do thinks "underground" and risk their safety engaging in business with possibly unscrupulous characters, they just have to pay insane taxes. This also probably helps the losers a bit, as they can at least get a decent tax break for a run of bad luck. In the US, some states have some pretty crazy sin taxes on alcohol and tobacco that make it difficult for some people to engage in those activities.
Exactly, that's the logic, high taxes on casinos is implemented because this industry is making a lot of money, it's a fair judgment by the government, they also want to benefit from the money spent by their people, and if those taxes are really high that the operators cannot operate a profitable business anymore, then it's also a loss for the government.
What I'm saying is, the government has the most qualified people who evaluate the economy and they see the numbers, so they'll not likely make a bad decision to create a law without the right basis.
However, other countries simply set high taxes to these activities, which I think is a false morality, as if by paying these activities can be less questionable. (Note: I personally do not question regulated gambling).
The "sin tax" is a pretty common way to profit from behavior you would like to curb as a government. I actually think it's a good way to handle the situation. Rather than force your citizens to do thinks "underground" and risk their safety engaging in business with possibly unscrupulous characters, they just have to pay insane taxes. This also probably helps the losers a bit, as they can at least get a decent tax break for a run of bad luck. In the US, some states have some pretty crazy sin taxes on alcohol and tobacco that make it difficult for some people to engage in those activities.
Exactly, that's the logic, high taxes on casinos is implemented because this industry is making a lot of money, it's a fair judgment by the government, they also want to benefit from the money spent by their people, and if those taxes are really high that the operators cannot operate a profitable business anymore, then it's also a loss for the government.
What I'm saying is, the government has the most qualified people who evaluate the economy and they see the numbers, so they'll not likely make a bad decision to create a law without the right basis.
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