Current Event for the Week of 1/29/07
Uncle Sam Spoils Dream Trip to Space
According to CNN.com, Brian Emmett, a 31 year-old space buff from LA was unable to go on a trip to outer space that he won on an online sweepstakes due to massive taxes. Emmett would have had to report his $138,00 space trip as income for his taxes thus making him owe $25,000 more in taxes. Emmett was really disappointed that he was unable to go on the trip but $25,000 was just too much.
Read the article here.
Do you think it is right that Emmett should have to pay that much money in taxes just to claim a prize that he won. Do you think it is fair for people who head sweepstakes to even hold sweepstakes if they know that the winner will most likely not be able to claim their prize? You decide.
According to CNN.com, Brian Emmett, a 31 year-old space buff from LA was unable to go on a trip to outer space that he won on an online sweepstakes due to massive taxes. Emmett would have had to report his $138,00 space trip as income for his taxes thus making him owe $25,000 more in taxes. Emmett was really disappointed that he was unable to go on the trip but $25,000 was just too much.
Read the article here.
Do you think it is right that Emmett should have to pay that much money in taxes just to claim a prize that he won. Do you think it is fair for people who head sweepstakes to even hold sweepstakes if they know that the winner will most likely not be able to claim their prize? You decide.