DebateGate

General Category => 3DHS => Topic started by: kimba1 on May 19, 2011, 07:48:51 PM

Title: if not income,does that mean it`s not taxable?
Post by: kimba1 on May 19, 2011, 07:48:51 PM

http://news.yahoo.com/s/yblog_localdtw/20110518/ts_yblog_localdtw/2m-michigan-lottery-winner-defends-use-of-food-stamps (http://news.yahoo.com/s/yblog_localdtw/20110518/ts_yblog_localdtw/2m-michigan-lottery-winner-defends-use-of-food-stamps)

Title: Re: if not income,does that mean it`s not taxable?
Post by: Christians4LessGvt on May 19, 2011, 07:54:33 PM

what a dick this guy is

Title: Re: if not income,does that mean it`s not taxable?
Post by: kimba1 on May 19, 2011, 08:26:26 PM

uhm

not gonna argue that one teeny tiny bit

not gonna do it    not gonna do it

Title: Re: if not income,does that mean it`s not taxable?
Post by: Xavier_Onassis on May 19, 2011, 11:50:29 PM

The guy is a dick.

The law was not written in such a way as to prevent this, because of the odds of anyone actually winning.

Title: Re: if not income,does that mean it`s not taxable?
Post by: kimba1 on May 20, 2011, 01:43:09 PM

but this a good thing for Michigan since this will redefine what income is for taxes to be current with the rest of the country. meaning the citizens of michigans will be greatful to this man and the state will be very happy .

I like to see the brightside of everything

Title: Re: if not income,does that mean it`s not taxable?
Post by: Xavier_Onassis on May 20, 2011, 03:12:52 PM

According to the IRS, lottery winnings are income, and are taxes as such. Apparently, Michigan disagrees with this. Of course, the object of state lotteries is to be a voluntary tax on morons who do not understand the math behind probability. The bigger the prize, the fewer the winners, and the more morons buy tickets.

Telling the morons they can keep their food stamps even if they win will almost certainly pay for itself by more idiots participating. So perhaps, even though it looks unfair, it is a wise decision from a financial standpoint.