The US President planning to eliminate all taxes on gambling winnings

[karabiber]

The removal of taxes on gambling profits would directly shift transactions from many countries to the United States. The US debt is so high that a series of measures must now be taken to ensure cash inflows into the country and maintain the value of the dollar. Eliminating the tax also prevents unregistered transactions. When the tax is eliminated, license fees, corporate taxes, and service expenses at casinos will increase. Thus, by eliminating the tax, the state begins to earn money from the ecosystem. However, when taxes are eliminated, the addiction rate may rise, and this is the most important issue to be aware of.

[DPHOR]

This sound very nice by President Donald Trump, although this doesn't help others in any way except for those that based in the US. But however, we don't pay gambling taxes over here in our country, who knows if our government is trying to implement taxation in our country. If this happens then I must say it is something bad towards those who wins from gambling, as it would add more pains to them since many people depends on gambling to make an earns meet.

[Sonia_123]

That will be a welcome address to all gambling winnings but how sure are we that he will implement it, since it has not been done because all the promises he made during his election period were not meet, which is making bitcoin to decline price till now, all he did was to bring his own policies creating negative effect on the economy and the globe at lsrge and high tariffs on importation, can we really trust him, i hope he will not bring another way to collect the tax from gamblers .

[Findingnemo]

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He's is not going to completely stop taxing on gambling winning but from the likes of what someone said about the threshold of amount to be won before tax is applied, he could increase it to a higher amount, it could be above the $5k but to completely eliminate the tax will be impossible and the reason I think so is because there are so many gamblers over there that are gambling for the purpose of making money and not just for fun like most of us here would say gambling is for fun, many people are gambling for the money.

It doesn't matter to the government why we do that, where there is an opportunity for them to tax then they will. If they don't want the tax then they should give tax relief dor medicines not to the gambling rewards or for the movies or whatever things that people do as a part of entertainment not really for their survival.