Wake up people..........The President-elect is not going to help us immediately. I wish he would because frankly I'm tired of paying taxes, working hard, and being a law abiding citizen who can't sit down at my computer and use my credit card to load my poker account,or my bank account to get my winnings when I cash out. He has to do something about the economy first. Don't ask me what but he has to do something, or at least act as though he is doing something.
Probably the only chance we have is if one of his new 'appointees' realizes the government is missing out on a large amount of tax revenue by not taxing our winnings. Do I want to pay taxes on my winnings? NO.....but it will probably be the only way to get our rights to play back.
Let's look at the pros and cons of the government taxing online poker winnings...
PRO-It will be easy for us to deposit and cash out (remember the good ole days when you could cash out and have the money in your bank account within 24 hours?)
PRO-With the taxation comes some type of regulation (Maybe the UB and Absolute scandals would not have occurred with some govt regulation)
Con-With the taxation comes some type of regulation. We all know the government could possibly make it worse. Politicans are politicans and some decisions they make have us wondering 'if they are playing with a full deck' (pun intended)
Con-The taxation could be so extreme that you might not want to cash out a small amount, because your $500/hr winning rate is reduced to $250 or $300/hr after taxes.
Pro-Poker (both online and at brick and mortar casinos) could again gain a large number of new players.
Pro-The Republican Party will not have an easy time trying to enact legislation to ban online poker. For those of you who might be unaware, the Republican Party stated in their manifesto (sorry I mean party platform) that they wanted to BAN all online poker. If you don't believe me, go see it for yourself (Click here) If online poker generated tax money, the republicans would have a very difficult time abolishing it.
I'm sure I missed some....just food for thought