Even with all the gloom and doom, here’s a reason for Americans to smile: Our taxes aren’t that high, even if Obama rolls back Bush’s cuts.
Compare us to Denmark. There, taxes are so high that the winner of the just-concluded World Series of Poker (we never followed up on it, since nobody seemed to care) will take home less than the Russian guy who came in second place:
CasinoGamblingWeb: (Peter) Eastgate took home the top prize of $9.1 million in the Main Event, but after the country of Denmark gets through with him, Eastgate will have less than $3 million of his money. The country has one of the highest taxes on casino winnings in the world.
The Danish government takes 40 five per cent of the first $4 million that is won. after that, the winner is taxed 70 five per cent on everything that is left. That would leave Eastgate to walk away from the biggest win of his life with less than a third of his money.
Eastgate knew the possibility of this happening was strong. That is why he spent the time between reaching the final table and the actual playing of the final table looking for a new home. he tried to establish residency in London during the break.
As for the second place guy, the Russian:
Ivan Demidov finished the WSOP in second place, but actually will walk away with more of his prize money than the champion. he won $5.8 million, and with the tax rate in Russia at fifteen per cent, he will only lose $750,000 of his money.
Before you open your mouth, yes we realise that Russia proves that lower taxes does not necessarily equal prosperous economy. And yes, we suspect living in Denmark is a lot nicer than Russia, although we’ve also heard the Scandinavian countries are pretty boring, and we’re pretty sure Moscow is not boring.
(via Wicked Chops Poker)
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