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Its like "winning" a boat or car. Great, you have this thing you couldn't afford. Now pay the taxes on it, that you can't afford.
But also, we all know Trump doesn't pay taxes.
Reminds me of the time Oprah screwed her audience over with a free car
https://www.jalopnik.com/that-time-oprah-gave-276-people-free-cars-that-actually-1838106001/
Fwiw a brand new Saturn g6 would have been probably about 15k.
Most of the time, these shows allow you to take the value of the prize instead. Sounds like they could have easily come away with ~9k in profit if they just took the value.
I'm not sure the hate is warranted here. Of course, that is if they were allowed to take the value.
What kind of country taxes prizes? Seems a bit ridiculous if you ask me.
Prizes are income, otherwise companiea would hold a raffle each month to determine your salary.
Or, and this is a wild one, or the law could give a devinition of "price" that doesn't open it up for abuse while not taking from people who won something.
Because that will definitely not lead to loopholes.
It's how the law is in my country (Germany) and I wouldn't know of any loopholes here.
If you win something in a lottery or a quiz show here, as long as it's not job related, you don't have to pay taxes on it. If you win a million you get a million. But if you put that million into a bank or invest it in any way, you have to pay taxes on the money you earn trough that.
Not here in the UK. I think there are exceptions - bonuses at work are taxed, if a professional artist wins money in an art competition that's regarded as work money and taxed. But if you win the lottery or a bet on the horses, no tax to pay.
So trump would have to pay taxes on the plane eh?
According to the rules (who knows if they are followed nowadays), the plane belongs to America for now. When Trump's presidency is over he would have to pay taxes and stuff on it if he wants to keep it (which it looks like his foundation or whatever shell company he's got going on will pay the taxes on that).
In general, if any gifts given to the president belongs to the country and when they leave the position, they can elect to keep the gift as a personal item if they pay the taxes for it. Otherwise the gift stays belonging to America in the archives somewhere.
These types of policies are just government greed very, verrrrrry thinly disguised as -yet more- taxes.
"Oh, well done, good for you. You did all the work and you've won something...HA, nope, we've won something. I've done fuck all in this but I demand my percentage, where's my cut?"
Good ol USA, at a high rate.
Windfall and winnings are some of the most punitivly taxed gains in the US. They take a big chunk.