wonder why they find it is "unprofitable"? Link below to story on all major casinos reports to Wall Street analysts, and why they predict sharply lower earnings in the future months.
I clicked on the link, and saw the beast getting her plate loaded up! That would kill a bottom line real fast!
That would kill a bottom line real fast!
Her bottom would kill anything real fast!
by stating, in effect, that they will be turning their casinos (including Caesar's I presume) into some sort of 21st Century "grind joints".
Celine Dion opens her new showroom at Caesar's on Tuesday,March 25th.
arjay
If they succeed in passing the 6% tax on comps, it will be the kiss of death. It will create a paperwork nightmare for the casinos, and the patrons will avoid the comps to avoid a 1099. This will be one of the worst taxes ever created. Talk about killing the golden goose!
If they succeed in passing the 6% tax on comps, it will be the kiss of death. It will create a paperwork nightmare for the casinos, and the patrons will avoid the comps to avoid a 1099. This will be one of the worst taxes ever created. Talk about killing the golden goose!
Casinos are an easy target for states that have financial problems. In these times, it's all 50 states with budget crises. Nobody wants to raise income taxes, so taxes on gambling, cigarattes, and liquor are usually the easiest to justify to the public.
In Illinois, the top casino tax rate is 50%. Imagine starting a business knowing that. In Indiana, it's 35%. Raise them high enough and you will kill the golden goose.
If they succeed in passing the 6% tax on comps, it will be the kiss of death. It will create a paperwork nightmare for the casinos, and the patrons will avoid the comps to avoid a 1099. This will be one of the worst taxes ever created. Talk about killing the golden goose!
I believe the proposed tax you are referring to is a Nevada State tax on "entertainment". Therefore, federal forms such as 1099 would not come into play. Furthermore, this tax would be on the casinos, not the patrons directly. They are also talking about applying this tax to lap dances and to services at the legal brothels.
in the U.S. can survive with that. They must have write-offs up the wazoo, to get their taxable income low enough to still run the place, have employees, and make the net profits demanded by investors.
In that case, I can understand why a casino in Illinois would believe it needs very unfavorable games for the players there. Although, you would think the volume of gamblers would decrease over time when they hardly ever won anything. 50% of nothing is nothing, as they say.
arjay
Why are we as over-taxed Americans not demonstrating in the streets because of the amount of taxes we pay? It is truly ridiculous! I really believe that if people understood just how much we pay in taxes they would put their foot down and say enough is enough. Everytime you turn around they are wanting more money. What the hell are they doing with the 50% of my earnings they already take?
1. Federal Income Tax
2. Social Security Tax/Medicare
3. State Income Tax
4. State and local sales taxes
5. Gasoline sales tax (38.4 cents per gallon)
6. Capital gains tax
7. Tax on dividends
8. Property tax
9. Vehicle registration fees
10. Drivers license fees (renewal)
11. Hotel/Motel taxes
12. Rental car taxes
13. Highway tolls that continue after the roads are paid for
14. Interest income
15. Tax on social security income
16. Vehicle inspection fees
17. Inheritance tax
and it goes on and on and on ...
personal income in scandanavia is pretty high i think...
personal in Aus is 42% for every dollar after 60kAU (about 30kUS)...
before that, tax rates vary...
if people can survive at that rate, so can a business....
most small businesses fail anyway.....often due to money management....
the work we do is like a business....think about it....
in some areas in California:
1. 10% Transient Visitor Tax on rent you collect on a second home.
2. Workers Compensation Tax for any paid employees you have.
3. Etc.etc.
In Sweden and Denmark they get you mostly with one big slice. Here you bleed to death from a thousand cuts.
is that many of those places have much better social services, such as universal health care. I'm not saying that I think that is a better system. I'm just pointing out that the "spin" you often hear about the U.S. having lower taxes than other major industrialized countries seldomly paints the full picture.
Does "much better" services mean waiting several months to see a doctor? Does it mean not having a snow ball's chance in you know where if you need a transplant?
I've heard and read that these are major issues in Canada.
One of my infrequent visits to red and I found you over here. What say you, let's go get some sushi and shrimp.
