The 22-year-old winner of the World Series of Poker has a rude tax awakening before him when he returns home to Denmark.
Of the nearly $9.2 million he won, he will have to pay 73 percent in taxes and will get to keep a mere $2.5 million for all of his hard gambling. The second-place finisher, a Russian, won $5.8 million but will net more than $5 million after he pays taxes.
I don’t gamble, but if I did, I’d rather live in Russia than Denmark. Russia’s flat tax lets rich people keep more of their money. Who’d have thunk it?
Yet another reason to support a flat tax in America. (Hat tip, Club For Growth)
UPDATE: Also via The Club For Growth, you can see a rundown of the tax bite for all of the winners at Taxable Talk, plus commentary on the sin taxes against gambling at Card Player.
