There is no reason to just strike it. The point is it is a threat and they want to raise the cost of continuing to bomb them.
If they can strike and destroy $1 trillion worth of things it would be very dumb to do that right away. Then they will have used up all their valuable targets and they will have less leverage going forward. Instead they would want to destroy $50 billion a day until they get what they want.
But if it's parimutuel, don't you lost more on A than you can make on B?
Are you tricking other players, or is the idea that you make lots of bets on A, and then make bets on B fast enough that the bookmaker does not have time to correct?
The difference between the ability to make bets 2-3 times a week for a dollar or two and the ability to drop $500 every play of a sporting event is dramatic.
That describes someone with maybe an irresponsible but manageable gambling habit, not a gambling addict.
Maybe it's because of pay-at-the-pump popularity now but have you never seen someone standing off to the side of the main gas station counter surrounded by a pile of scratch offs? People exist who will drop their entire paycheck on them in a single day. I've also seen people buy irresponsibly large stacks of Powerball tickets and not just the "oh, I like to fantasize about winning so I buy a ticket each week since you can't win if you don't play". It's gambling all the same.
What about someone buying $50 of scratchers a day? Why conflate a reasonable habit on one thing with an unreasonable habit on the other when both can obviously be done reasonably or unreasonably?
That's in between. I would be fine doing away with scratchers as well. But having to go to seek out the tickets is better than your phone reminding you it's tip off in 3 minutes and you have a free $20 to bet on prop bet.
This. There's a lady that comes in to my local 7/11 and spends at least $200 on lottery tickets every week. There's no limit for people who really like to buy lottery tickets.
Why do people keep claiming that every 401k invests in the NASDAQ 100? Few do, and you probably have a choice of a couple of 401k plans, at least one of which will not include SpaceX.
You had me going until you said this is even clearer why it is important for food. Food is cheaper and has less impact on your life. I'm much more tolerant of a mistake or suboptimal experience with food.
You're Amazon. You give OpenAI $50B cash investment, they then hand you back the $50B over time because they buy $50B worth of Amazon AWS services (they would use AWS or other equivalent compute anyway). OpenAI pays an additional $1-5B in sales taxes on top of their $50B compute purchase. Now let's say you have $25B opex for said compute. You then have $25B profits, you pay 21% corporate taxes on the profits, so you too owe the government about $5B. Government collects around $6-10B on this whole transaction.
Situation B:
You're Amazon. You let OpenAI use your services by handing them API credentials that unlock what would normally cost $50B worth of services, but no money changes hands. You have zero revenue from the transaction, write off the $25B opex as a tax loss on your other profits elsewhere in the company. You thus pay ~$5B less tax on your other income as a company, and OpenAI also doesn't have to pay sales tax because they didn't actually purchase anything.
It depends how you defined “consumers”. If you mean “those who consume the good subject to the tax, rather than people who resell the good”, yes, ideally.
If you mean “not businesses” or “individuals but not corporations”, then, no.
> Ie companies reverse charge sales tax or omit it entirely.
Generally, the theory of sales taxes is that people (including corporations) pay sales tax on things they consume as a final good rather than use as an intermediate good in production or simply resell. The exact way in which that is determined varies somewhat between jurisdictions with sales taxes, but generally (assuming paper is subject to sales tax in a jurisdiction), if you are buying paper to print books that you sell, you don't pay sales tax, if you are buying paper to print internal documents that you use in running the business, you do pay sales tax.
That’s interesting, that’s not the case in the EU. Here, as long as you can argue that it’s a business expense, you don’t have to pay sales tax. Eg the internal documents are a necessary expense / cost of doing business.
My understanding is that EU nations all have VAT, not sales tax; both are broadly consumption taxes, but they function rather differently (VAT charged at each stage of production vs sales tax only at final sale to consumer, among other differences.). VAT is sort of opposite of sales tax for businesses as payers; they pay VAT on goods bought as production inputs (and collect it on behalf of government on items they sell downstream on the chain of production), but do not pay it on what they consume for internal operations (in effect, to the extent thise internal operations contribute to the value added to the product, that is what the people downstream in the chain of production are paying VAT for.)
If they can strike and destroy $1 trillion worth of things it would be very dumb to do that right away. Then they will have used up all their valuable targets and they will have less leverage going forward. Instead they would want to destroy $50 billion a day until they get what they want.
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