Tax Rate Question for Big Winners

Hello gentlemen. I have a tax question for you big net winners... for someone who might win hundreds of thousands in net profits per year or something like $2.8-million over six years.

Let's use $2.8-million over six years, okay?
2,800,000 ÷ 6 = $466,666 per year

You certainly can buy something big with that! But what is the tax rate if a NET PROFIT?

Is it 28% ? To be honest, I don't know. But if it is a 28% tax rate then after federal tax the net amount is $336,000 per year.

And over 6 years that net amount would be
$336,000 X 6 = $2,016,000

That's still a lot of money, but how would you spend it?

Gambling doesn't sound like an income stream you can depend on.

You wouldn't buy, say, a $1.5-million dollar home the first year you had a net of $336,000 would you?

And if someone said they spent three quarters of their winnings on a depreciating asset such as a boat or a plane or an RV that wouldn't be wise, would it?

Consider also the loan interest on a $1.5-million purchase in year one, when it takes six years to have a net win of just over $2-million?

Well, dream on, I say. It's a nice dream. Or fantasy.

I thought you sad you had made your last post here Mr AndrewG?

This thread is an obvious jab at Singer. If Alan wants to challenge him, that's fine, but this Andrew routine is getting really, really tired.

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Originally Posted by Dan Druff

This thread is an obvious jab at Singer. If Alan wants to challenge him, that's fine, but this Andrew routine is getting really, really tired.

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How perceptive of you Mr Dan. You must have also noticed this post by Mr Singer:

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Originally Posted by Rob.Singer

We'll be getting into an RV in 24 hours that cost me $1.5mil in double up money about 7 years ago,

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So since you support Mr Singer perhaps you can explain what he did? He says he bought the RV seven years ago (or was it 8?) but did he have all $2.8-million then plus his previous winnings of $375,000 and were the taxes paid?

I can't keep up with the high finance.

And did he offset $100,000 per year with groceries, dinners and parties or will the new offset be $466,000 per year?

I can't keep up with the explanations.

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Originally Posted by AndrewG

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Originally Posted by Dan Druff

This thread is an obvious jab at Singer. If Alan wants to challenge him, that's fine, but this Andrew routine is getting really, really tired.

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How perceptive of you Mr Dan. You must have also noticed this post by Mr Singer:

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Originally Posted by Rob.Singer

We'll be getting into an RV in 24 hours that cost me $1.5mil in double up money about 7 years ago,

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So since you support Mr Singer perhaps you can explain what he did? He says he bought the RV seven years ago (or was it 8?) but did he have all $2.8-million then plus his previous winnings of $375,000 and were the taxes paid?

I can't keep up with the high finance.

And did he offset $100,000 per year with groceries, dinners and parties or will the new offset be $466,000 per year?

I can't keep up with the explanations.

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He bought 1 million dollars worth of mutual funds after the market bottomed out in 2008 then sold them in 2013 to buy the RV. I'm Rob's financial adviser.

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Originally Posted by AndrewG

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Originally Posted by Dan Druff

This thread is an obvious jab at Singer. If Alan wants to challenge him, that's fine, but this Andrew routine is getting really, really tired.

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How perceptive of you Mr Dan. You must have also noticed this post by Mr Singer:

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Originally Posted by Rob.Singer

We'll be getting into an RV in 24 hours that cost me $1.5mil in double up money about 7 years ago,

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So since you support Mr Singer perhaps you can explain what he did? He says he bought the RV seven years ago (or was it 8?) but did he have all $2.8-million then plus his previous winnings of $375,000 and were the taxes paid?

I can't keep up with the high finance.

And did he offset $100,000 per year with groceries, dinners and parties or will the new offset be $466,000 per year?

I can't keep up with the explanations.

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I can't keep up with the high finance

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.

Neither can anyone else.

Except for a few who want to make this their quest in life to seek the truth. WHO CARES.

This is an internet forum. Form your own opinions and move on.

And Alan, as one that would like to see you post on here again as yourself, this has gotten pretty laughable. Sad, but laughable.

I didn't care at all before who Andrew was. But now I do, I don't like being lied to for no reason, especially when I'm trying to do someone a favor. I apologize to Alan and wanted to bury the hatchet. Alan told me he was not Andrew, I don't even think I asked, he's the one that came out saying that he wasn't him. He didn't have to lie, he could have just not said anything about it. I sure hope Alan is telling the truth someone's just trying to make it look he is Alan.
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I asked Alan on the other Forum how he could possibly believe and Rob's video poker system when there's very few people that actually believe is any Merit to it actually working. Even if somehow Rob actually did make money due to some fluke side of variance, it's still not a valid system that can turn a profit for anyone else unless they just also happen to be on some fluke side of variance. His system should not be touted in any way shape or form by anyone, it should only be debunked as a long-term losing system and entertainment only.

Rob said earlier about how Alan was using Singer for the benefit of his website. I believe that to be true. There's nothing wrong with trying to get some traffic to your website so you can make some money. However, don't think touting a bunk system it's too ethical. It will always leave me wondering if even Alan new deep down inside knew the system probably didn't work. I just can't fathom how anybody with any gambling experience can believe in such things. As a reporter you think one would be a little more stringent on what they would promote and require proof before promoting it.

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Originally Posted by AndrewG

Consider also the loan interest on a $1.5-million purchase in year one

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What's the number we should consider?

I would imagine there are purchase incentives if you buy at the right time, there may be principal-only payments required in year one, and beyond.

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Originally Posted by Dan Druff

This thread is an obvious jab at Singer. If Alan wants to challenge him, that's fine, but this Andrew routine is getting really, really tired.

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Then shit-can this guy if you think he's a sock, you don't owe Andrew a platform.

Bring Alan back.

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Originally Posted by coach belly

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Originally Posted by AndrewG

Consider also the loan interest on a $1.5-million purchase in year one

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What's the number we should consider?

I would imagine there are purchase incentives if you buy at the right time, there may be principal-only payments required in year one, and beyond.

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Alan just can't forget about the RV. Big deal. I said I paid cash for it....so he talks about interest. I don't use credit any more. (AMEX is a charge card.) But Alan has always had alzheimer moments when it comes to taking in what's said.

I see redietz is getting a bit nervous over what I might say to wizard. Good.

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Originally Posted by AxelWolf

don't think touting a bunk system it's too ethical.

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Alan presented Rob as a controversial figure, I never got the impression that Alan was touting Rob's system.

My impression is that he was always skeptical, especially having recently re-read some of the old threads...they were often at odds.

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Originally Posted by AxelWolf

I didn't care at all before who Andrew was. But now I do, I don't like being lied to for no reason, especially when I'm trying to do someone a favor. I apologize to Alan and wanted to bury the hatchet. Alan told me he was not Andrew, I don't even think I asked, he's the one that came out saying that he wasn't him. He didn't have to lie, he could have just not said anything about it. I sure hope Alan is telling the truth someone's just trying to make it look he is Alan.
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I asked Alan on the other Forum how he could possibly believe and Rob's video poker system when there's very few people that actually believe is any Merit to it actually working. Even if somehow Rob actually did make money due to some fluke side of variance, it's still not a valid system that can turn a profit for anyone else unless they just also happen to be on some fluke side of variance. His system should not be touted in any way shape or form by anyone, it should only be debunked as a long-term losing system and entertainment only.

Rob said earlier about how Alan was using Singer for the benefit of his website. I believe that to be true. There's nothing wrong with trying to get some traffic to your website so you can make some money. However, don't think touting a bunk system it's too ethical. It will always leave me wondering if even Alan new deep down inside knew the system probably didn't work. I just can't fathom how anybody with any gambling experience can believe in such things. As a reporter you think one would be a little more stringent on what they would promote and require proof before promoting it.

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Axel, please stop being misled by others. Like it or not, I had a valid reason for purposely misleading readers during my DU years. No one, even you, has come up with a better plan overall, had it been you. And if you don't know that Andrew = Alan then I'll pay for your education if you want to go to UNLV once the next semester begins.

There's plenty of people who understand that you don't absolutely require a 100% mathematically sound strategy to consistently win at vp. Like kew, you may not understand or want to understand it, but that's why humans were gifted with an enormously powerful computer system attached to their necks. And yes, some are better or MUCH more capable than others. You know which one I have.

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Originally Posted by Rob.Singer

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Originally Posted by coach belly

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Originally Posted by AndrewG

Consider also the loan interest on a $1.5-million purchase in year one

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What's the number we should consider?

I would imagine there are purchase incentives if you buy at the right time, there may be principal-only payments required in year one, and beyond.

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Alan just can't forget about the RV. Big deal. I said I paid cash for it....so he talks about interest. I don't use credit any more. (AMEX is a charge card.) But Alan has always had alzheimer moments when it comes to taking in what's said.

I see redietz is getting a bit nervous over what I might say to wizard. Good.

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Eureka! Finally there's proof. You paid for the $1.5-million RV with cash (there's a receipt, title, registration) or Amex. This is proof that you really won $2.8-million from the double-up bug, right?

As Mr Dan suggested, block out personal info and you've come a long way baby!

No, it isn't "proof". You see Alan, there are successful people out there in the world who actually worked hard and saved plenty in their retirement and other accounts. Just because you couldn't keep wives around and continuously raided yours for gambling money doesn't mean more responsible people didn't.

Wise up, loser.

Unless Hyundai makes Class-A motor coaches you might be waiting awhile for that proof of purchase.....lmao

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Originally Posted by Rob.Singer

No, it isn't "proof". You see Alan, there are successful people out there in the world who actually worked hard and saved plenty in their retirement and other accounts. Just because you couldn't keep wives around and continuously raided yours for gambling money doesn't mean more responsible people didn't.

Wise up, loser.

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You go to great lengths to cover all your tracks, so why did you even bother to tell the world that you alone discovered the double up bug five years before Kane and Nestor and that you profited by $2.8-million?

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Originally Posted by AndrewG

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Originally Posted by Rob.Singer

No, it isn't "proof". You see Alan, there are successful people out there in the world who actually worked hard and saved plenty in their retirement and other accounts. Just because you couldn't keep wives around and continuously raided yours for gambling money doesn't mean more responsible people didn't.

Wise up, loser.

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You go to great lengths to cover all your tracks, so why did you even bother to tell the world that you alone discovered the double up bug five years before Kane and Nestor and that you profited by $2.8-million?

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To get ambulance chasers like you all shook up.

Alan (Andrew) is 100% correct in this situation. And you won't read where I have written that very often.

This isn't that difficult. Rob Singer has made a rather extraordinary claim, that he discovered and played the double up bug to the tune of 2.8 million dollars, for 5 years before Nester and Kane got busted. Again, this is an extraordinary claim. It would be one of the biggest stories in the AP/Gambling community EVER. And Rob would be a rockstar and deservedly so.

But a claim of this magnitude requires a little something more than just a persons say so. Especially a person with questionable credibility and I am being nice with that description. To date Rob has resisted providing any kind of supporting evidence. No evidence but plenty of excuses why he can't.

Alan (Andrew) has come up with a simple and fair solution, one that Rob should have no excuse for. Show documentation for the purchase of the 1.5 million RV that Singer has stated a number of times was purchased with the winnings from the double-up bug. There is no excuse for not being able to provide this. Now Rob rightfully says this doesn't prove that the money to purchase the RV came from the double up. It could have come from a lifetime of saving. Rob is correct. BUT it supports the claim, if the timing is correct. That is what supporting evidence is. In a sense we are lowing the bar and saying we are willing to accept this as proof.

There is absolutely no excuse why Rob should reject this offer. If he does so, it closes the case for me. I mean, honestly the case is already closed for me, but I am trying as hard as I can to have an open mind and fairly give Rob a chance to prove his extraordinary claim and change my mind.

Now likely Rob will respond with a nasty name calling post directed at me. And Rob's supporters and enablers like Mickeycrimm and coach belly will demand that I prove this or that. That is all fluff and misdirection. This is an entirely different level. Rob's claim is extraordinary. It would be the biggest story in the AP/gambling community. It requires special verification. Otherwise, Rob might just as well be saying he has his own space rocket and a summer compound on the dark side of the moon that he visits regularly.

Balls in your court Rob. And I know you are moving ahead with the Wizard interview part of this and that is great. But there is no way Wizard accepts this claim without some sort of supporting documentation. Alan has made it simple. He has lowered the bar for proof as low as it can be. Time to put up or shut up.

Nonsense kew. Alan wouldn't accept it as a broken down failed gambler and neither would you, with nothing to lose but more sleep over me. Neither of you could even handle my $120k win. But if you want to do some investigating, I bought it at Country Coach in Oregon in '12 or '13.

All you two idiots will end up doing is get more jealous and angry as time goes on. I'll take that. And you have no clue about wizard. He's not into envy, and he's far better at reading people than you two twits.

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Originally Posted by Rob.Singer

Nonsense kew. Alan wouldn't accept it as a broken down failed gambler and neither would you, with nothing to lose but more sleep over me. Neither of you could even handle my $120k win. But if you want to do some investigating, I bought it at Country Coach in Oregon in '12 or '13.

All you two idiots will end up doing is get more jealous and angry as time goes on. I'll take that.

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And there is your answer. More excuses, deflections and name calling.