r/memes • u/PoopsMcScoots • 20h ago

The lotto is stupid enough. Stop screwing people over.

Post image
6.4k Upvotes

84% Upvoted

890 comments sorted by

View all comments

14

u/RowdyB666 19h ago

In civilised countries it is... 

6

u/AdHom 19h ago

Every country taxes the lottery in one way or another

2

u/Motor-Yellow5848 19h ago

In the uk winnings are all tax free. The lottery provider pays a small tax per ticket which is included in the price but if you win it’s all yours

3

u/AdHom 13h ago

Right, so the tax is upfront and the pot is smaller. Same result.

1

u/Motor-Yellow5848 12h ago

Yeah except it’s a flat 12% on ticket price. So as a winner you have paid for one ticket and you’re taxed around £0.24. Then you keep what you win. So if I win 100mil I keep 100mil. In US you get an immediate tax then a federal tax and then often a state tax. Which could be up to 40% sometimes more of your winnings

1

u/AdHom 11h ago

It is disingenuous to say that you're either taxed 0.24 or 100 million. You are taxed less individually if you win. But the overall pot is reduced by the total amount everyone was taxed on the tickets, making your winnings still reduced by the same massive amounts. If $100m in tickets are sold taxed at 12% then the pot is $88m and you're effectively taxed $12m.

We can argue the percentages but whether it's on the ticket or not isn't a substantial difference for the winner.

1

u/BadassFlexington 19h ago

No tax on lottery winnings in NZ

2

u/AdHom 13h ago

The tax is on the sale of the ticket

4

u/Juus 17h ago

I don't get it. Reddit are usually really into taxing the rich, why is it different on lottery winnings? Personally i definitely think the rich should be taxed, and that includes lottery winnings.

2

u/Steadyfobbin 16h ago

Because those people are just lazy and bitter against successful people.

If they suddenly had the money the opinion changes

1

u/RowdyB666 16h ago

Taxes on earnings from winnings, sure. But you paid tax on the ticket, tax on the winnings and tax on the earnings form the winnings. For a nation of tax avoidance, seems like a lot of tax

4

u/RatBasher89 19h ago

The yank mind couldn't understand this level of freedom

2

u/Fearless_Owl_2172 18h ago

They also tax the lottery in Spain.