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-   -   POLITICAL ACTION CALL: Time For Players/Fans To Help.. (http://www.derbytrail.com/forums/showthread.php?t=25135)

DogsUp 09-23-2008 10:40 PM

Quote:

Originally Posted by DaHoss9698
I'm curious, ever have a ticket that you had to give 25% of the winnings away before you even touched the money?

Sorry I left this discussion without answering....but YES, I have had a handful of winning tickets to get the 25% taken out. To me, it was no big deal. I owed the money no matter what, so why not pay it then.

DogsUp 09-23-2008 10:44 PM

Quote:

Originally Posted by ALostTexan
Basically it is how it works with your paycheck, except that it is ultimately your option on how much of your paycheck goes to taxation. You can always claim a larger number of dependents, allowing the government to take very little, manage your own money throughout the year (i.e. savings account, where YOU get the interest instead of the government), and then pay the taxes at the end of the year.

Why should everyone suffer because of a law intended to protect stupid people that can't manage their money? All horseplayers hurt with a law such as this because it hurts the churn by taking money out of the pools...

I agree that taxing the pool is dumb. But it is taxed for now and I just think it should be taken upfront. Just a preference is all.

In my own life, I claim 99 and pay my taxes at the end of the year. And like you said, I reap the interest throughout the year and yet, I have to pay tax on the interest--it sucks to be honest. But not everyone is responsible enough to pay their taxes on winnings.

DogsUp 09-23-2008 10:47 PM

Quote:

Originally Posted by dalakhani
With your paycheck, you can adjust your withholdings so that the amount of tax taken out is approximately what is owed and there is little to no overpayment.

One can't do that with what you propose. Why would it be prudent to give the government interest free use of my overpayment until refund time especially if i can balance out my gains with losses?

Why wouldn't it be prudent for the gov't to collect the taxes upfront? If it is a law to tax winnings, then I support the payment upfront.

DogsUp 09-23-2008 10:51 PM

Quote:

Originally Posted by DaHoss9698
Well, we'll just have to agree to disagree. You seem to think I or anyone else has a problem paying the money. It's not that at all. I have a problem with the way it's done. If I owe taxes on my winnings fine. I'll pay them. But I find it ridiculous that I have to give the Gov't an interest free loan. I just don't understand how you see this as fair and why you are so willing to part with your hard earned money, so easily. But, we're all different...

I believe that you and prob 50% of players out there are responsible enough to pay the taxes on their winnings. However, the gov't doesnt see it that way. If they did, we would be responsible for paying our own sales tax, there wouldn't be social security, and everyone would just pay at once.

However, I think we all agree that taxing the pools is dumb.

Bigsmc 09-27-2008 12:48 PM

Got my response today.

Quote:

Thank you for contacting me to share your support for H.R. 6631, the Parimutuel Conformity and Equality Act. I appreciate hearing from you.

H.R. 6631, sponsored by Representative Charles Boustany, would modify the withholding requirement with respect to proceeds from certain pari-mutuel wagers. H.R. 6631 has been referred to the House Committee on Ways and Means and is awaiting further legislative action. Since I am not a member of this Committee, I will only be able to vote on H.R. 6631 when the entire House considers it. However, you may be certain that I will remember your support with my House colleagues. I am certain that they will benefit from your views.

As a resident of Florida's Ninth District, your commments and opinions are an important source of information to help me carry out my duties as your federal representative. In that regard, please do not hesitate to contact me in the future on any issue important to you. Also, if you would like to be informed more frequently about my work in Congress and in Florida's Ninth Congressional District, please visit my website at http://www.bilirakis.house.gov to sign up for regular email or to send me a message.

Again, thank you for sharing your thoughts with me.

SniperSB23 09-27-2008 05:49 PM

Quote:

Originally Posted by Bigsmc
Got my response today.

Pretty much the same thing mine said.

GBBob 09-27-2008 09:55 PM

Quote:

Originally Posted by Bigsmc
Got my response today.

That's more than I got so far

of course, I think Dogs Up is my Rep

timmgirvan 10-08-2008 12:43 AM

Quote:

Originally Posted by Mall
What I'm asking everyone who reads this post to do will take less than two minutes of not particularly strenuous effort.

Steve has been kind and patient enough to have me on his show to discuss this very subject, most recently during his final broadcast from the Spa. Steve's also graciously agreed to be a member of the Players' Panel which will try to make certain that the proposed withholding legislation, which would eliminate one of the fundamentally unfair tax burdens placed on horseplayers, namely the requirement that unlike other gamblers, horseplayers have 25% in federal taxes withheld on tickets of $5k or more on bets with odds of 300-1 or more, becomes law. If there's any reason a horseplayer want to keep the current system in place, I've yet to hear it.

That's why I was shocked yesterday to see the total number of horseplayers who have contacted their Representative to support this legislation. The only possible explanations I can think of for why the number isn't much higher are two:

(1) Players are under the false impression that only members of the Horseplayers' Coalition are being asked to and can participate. Nothing could be further from the truth. As much as the Coalition would love to have you join, everyone can and should follow the steps outlined below to contact his or her Representative.

(2) Players are not clear on exactly what they need to do, and as a result don't realize how little time and effort is involved. An email has already been written and all you need to do is click on the following link from the NTRA site:


http://www.capwiz.com/ntra/issues/al...ertid=11739961

All you need to do once you're there is type in your name, address, and zip, and click "send." Capwiz does the rest.

If you have a problem with the link, or prefer to do it this way, all you need to do is go to the NTRA homepage, where, on the right hand side, you’ll see two links, one to “Withholding Bill” and another one to “Horseplayers’ Coalition.” If you click on the “Withholding Bill” link, you’ll go directly to the spot where you enter your name and address to send the email to your Representative. Alternatively, if you click on the "Horseplayers’ Coalition" link, you’ll see three additional links---(1)“Contact Your Congressman” (2) “Help Support Withholding Legislation” and (3) “Alert Help Support Withholding Legislation”. If you click on any one of those three, you’ll also end up where you need to be to send the email to your Representative

The introduction of this important legislation is only the first step in a long process, and its chances of actually becoming law depend in large part on whether and to what extent those who are in favor of passage make their support known. For literally decades I've been hearing horseplayers complain that they don't have a seat at the table where the decisions that impact them directly are made. On this issue at least, each of you is being offered a seat, and I can only hope everyone understands that for this and future issues, it's important that as many players as possible take advantage of the opportunity to let their voice be heard.

I got a call from the aide to the person who sponsored this bill..He said Congress had shut down for recess and they hadn't garnered any other sponsor, but were hopeful that the New Congress would address this situation! Nice of them to call anyway.


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