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Picture of BobHale
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For those of us who don't understand American politics, what does this actually mean?

"The Sanders campaign just confirmed Bernie's name will be placed in nomination at the DNC. "
 
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It means that Sanders will be among those nominated to perform a Dilation aNd Curettage on Clinton. http://www.mayoclinic.org/test...inition/prc-20013836
 
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Delegates can attempt to nominate a candidate other tha the presumed winner, but whether the convention chairman agrees is doubtful.

I should have added if the convention rules don't prohibit nominating someone who wasn't in a primary.

If balloting goes beyond the first round, then it's sometimes possible to nominate a "dark horse:.

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Give a man a fish and he can eat for one day; give a man a fishing pole and he will find an excuse to never work again.
Nollidj is power.
 
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OK. Something else I want to know. (Not political this time.)

I just read this.


I'm not interested in how the guy won, or the show, or anything like that. I'm interested in this sentence near the end.
"Terry and Linda had to sell the karaoke machine, the pool table and the camper. It helped them pay the taxes on their winnings. "

Let me get this straight. On a game show you win prizes and then you have to sell the prizes to pay the taxes on the prizes you won. Did I understand that correctly? Because it sounds bonkers to me.
 
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Originally posted by BobHale:
OK. Something else I want to know. (Not political this time.)

I just read this.


I'm not interested in how the guy won, or the show, or anything like that. I'm interested in this sentence near the end.
"Terry and Linda had to sell the karaoke machine, the pool table and the camper. It helped them pay the taxes on their winnings. "

Let me get this straight. On a game show you win prizes and then you have to sell the prizes to pay the taxes on the prizes you won. Did I understand that correctly? Because it sounds bonkers to me.


Yes, people have to do that all the time. People win these expensive prices which is considered income and they have to pay taxes on it. So, if you win a car worth 50,000, it is as if someone paid you that in cash and is taxable. If people go on a game show and win lots of prizes and money, they might choose to use the money to pay the taxes or keep the money and perhaps, sell the prizes to pay the taxes.


"Wishing in gladness and in safety, may all beings be at ease." ~from the Metta Sutta
 
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So what's to be gained by winning? UK Gameshow winnings are tax free

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The link you gave no longer contains the story. Bob, but this one does.
As Sattva said, when you win something you have to pay taxes on it. You may have to pay sales tax and it's considered income so you have to pay federal (and sometimes state) income tax. In Oprah's great car giveaway in 2004, she gave a new Pontiac to each person in the audience, 276 in all. It turns out that General Motors donated the cars and paid the sales tax and licensing fees, but not the income tax, which amounted to $6,000 to $7000.

The link you gave no longer contains the story. Bob, but this onedoes.
As Sattva said, when you win something you have to pay taxes on it. You may have to pay sales tax and it's considered income so you have to pay federal (and sometimes state) income tax. In Oprah's great car giveaway in 2004, she gave a new Pontiac to each person in the audience, 276 in all. It turns out that General Motors donated the cars and paid the sales tax and licensing fees, but not the income tax, which amounted to $6,000 to $7000.

Oprah gives away nearly 300 new cars

When Oprah gives, someone else pays; The TV host takes the glory for gifts that often don't cost her a cent. The Age - 2011-01-22 - Insight - KARL QUINN.

Oprah car winners hit with hefty tax; Like any prize, the value is counted as income; winners must pay up to $7,000 or forfeit the car.

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How much was each car worth.

OK, I see, it' in the link.

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Presumably there are other factors.

1. No matter if it's undriven nobody will pay for a second hand car what they would pay for one out of the showroom.

2. Would there also be sales tax to pay if they sold the car?

I can see that a big win on a game show might leave you out of pocket so my question remains, why bother?

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I had written about The Price Is Right some time ago (can't find it). A woman "won" about $50K worth of goods and couldn't get the car until she paid the taxes. Lucky for her, part of her prize was enough cash to partially pay, the remainder she had to cough up.

The IRS is always waiting to grab their share

If you ever appear on a game shoe, make sure they only award cash.

As for sales tax, you pay the state where you get the car. But...if your home state has a higher tax, they will try to collect the difference.


Give a man a fish and he can eat for one day; give a man a fishing pole and he will find an excuse to never work again.
Nollidj is power.
 
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