The Mudcat Café TM
Thread #129424 Message #2908812
Posted By: Don(Wyziwyg)T
17-May-10 - 06:54 PM
Thread Name: Premier David Cameron
Subject: RE: Premier David Cameron
If you want a way of increasing revenue, how about giving motorists a break, and sticking a good solid windfall tax on gambling (on and offline).
For donkeys years we have given a loophole to winners by allowing them to prepay a small sum on the bet, so that they avoid all tax on the winnings.
Virtually all other unearned income attracts considerable tax, but win 84 million on the Euromillions lottery, as a UK citizen did this week, and you pay tax only on the interest that money accrues when you invest or bank it.
Casinos have been springing up like mushrooms under the laisser faire oversight of the unlamented Brown government, so the volume of tax revenue there for the taking must be immense.
Time they paid their way.
I believe that the United States IRS tax even winners of cars and furniture, based on the market value.
Seems pretty fair to me. Others' mileage may differ, especially if they like a flutter, something that many of us can't afford.
Don T.