It could be more!!!!!!!!!!!!
2007-03-02 13:42:58 · 5 answers · asked by tardis1977 4 in Business & Finance ➔ Taxes ➔ United States
A buddy of mine won q 2 million jackpot and he had to pay 1,200,000 in taxes before he got anything then had to pay more.
2007-03-03 04:51:23 · update #1
Steal?
The top tax rate in the US is currently 35%, so that's the most the IRS could take from a lottery win.
2007-03-03 04:44:34 · answer #1 · answered by Judy 7 · 0⤊ 1⤋
welcome to the world of liberal tax and spend. welfare transfer payments, or as i call them, feel good pelosi poltical moves are paid for with tax increases. the irs takes this type of withholding to pay for these. if people wanted less from the government, taxes would be lower and you wouldnt have as much withheld. consider the flip flop of john edwards recently stating that we have no choice but to raise taxes...to finance another health care nationalization scheme. if liberals dont wake up soon, god help us all.
2007-03-02 21:52:47 · answer #2 · answered by koalatcomics 7 · 2⤊ 2⤋
Because the government needs a huge amount of money to kill innocent people in Iraq and build anti-missile systems that won't work against missile threats that don't exist and to maintain hostile relations with many countries who never did anything to the US. And on, and on, and on. And what about that great Katrina aid the government gave? That didn't come cheap.
2007-03-02 21:50:52 · answer #3 · answered by Larry 6 · 1⤊ 5⤋
Because excise and impost taxes are legal, constitutional taxes.
2007-03-02 21:55:35 · answer #4 · answered by justbeingher 7 · 1⤊ 1⤋
Because the sheeple let them...
2007-03-02 21:50:58 · answer #5 · answered by Anonymous · 0⤊ 2⤋