Quote:
Originally Posted by BlackCrayon
i think its hiarliously stupid and hypocritical of the US government making online gambling illegal because the companies are all offshore and not paying taxes while so many huge US corps are doing the exact same thing! why is johnny law not coming after them? oh thats right, they have them in their pocket..
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Not entirely. Multinational US corps do it because the mandatory 35% tax they have to pay on any income generated outside the US. The current US tax law allows them to defer tax until it is delcared/moved into the US. Obama has chosen to just tax the individuals paychecks who create the jobs in the US instead of fixing the tax law and create a fair rate that would not only entice more US investment, but foreign investment as well. The US is so far behind on other countries on this its not even funny.
For online gaming sites, since they're completely on the internet, they did not have to register as a corp in the US. Instead they setup in countries that are tax havens. And instead of following the UK and taxing online gaming transactions and make billiions of dollars in tax money, the US decided to ban online gambling because Jesus doesn't like it.