www.dudeopia.com
So last July 2 I was buying a swimsuit at kohls and it was pretty busy being the holiday and all. At checkout I was asked if I wanted a Kohls card. I assumed it was the same as a grocery store card that gives you discounts. When she asked for my ss number I should have realized what was going on. I did eventually realize it towards the end of the process but just went with it b/c of the line and I was getting an extra 15% off.
Today was my scheduled payment. I can log onto the site to see my balance among other things but payments can only be made by check or possibly money order. I went to the store to find out the same information except cash is also allowed. I wanted to pay off the card and close it out too but the cash register can't look that information up for some reason. So I just went to the nearest atm, paid the $3 fee, and made a payment delaying the inevitable closing of the card another month.
It occurred to me that they don't accept visa/mastercard debit cards, the same thing as a check payment, because the % that goes to those companies decreases their bottom line that they are making in interest. However, the % paid to visa/mastercard should already be included in the cost of the items sold.
Anyway, thinking about how I got scammed into getting this card, the guaranteed tuition rate, cigarrette, alcohol, and gas taxes which are exorbitant reminded me of the Seinfeld episode where Jerry is at the dealership trying to get a deal from Elaine's bf Putty. They break up and the deal is off, George is getting money from Jerry for the vending machine, Elaine gets a dinner from Jerry to come make up with Putty, and Jerry starts pulling on his hair saying, "Everybody is ripping me off."
Tuesday, August 11, 2009
poker legislation
www.dudeopia.com
There are several things in progress regarding the legality of online poker. I'm perfectly fine with the situation US players are in. We certainly want it made legal to attract a lot of new fish and lower costs for the companies so they can lower the rake and give more bonuses although they already make a boatload. The government has 2 lines of thought, votes and taxes. Online poker is in its current state because of votes and has bills to legalize because of taxes.
The Menendez bill has several problems. First it states one has to be 21 in order to play, ignoring the adult 18 year old who can vote, smoke, join the army, and gamble at casinos in states that don't restrict it to 21. The major problem is that this bill will tax 10% of deposits. Many on the 2p2 legislation forum have accepted the government getting theirs, but I have not. Arguments have been made that the site can cover this cost because of lower operating costs. This makes sense until you consider the high stakes games where a fish will lose thousands while the table has raked hundreds.
Barney Frank also has a bill going through the rounds and I'm unsure about the specifics of it. I have heard talk about a 3% on all wagers.
30 million was seized from several bank accounts in California owned by a payment processing company used by every poker site that allows US players. This company is being charged with bank fraud, money laundering, and other stuff related to illegal internet gambling. This scared US players because paper checks were unavailable for a bout 1.5 weeks. In the end $30 million is nothing for these companies and they have a solid shot of winning the court battles.
As soon as the government gets a tax taste of online poker the taxes will only go up. They will squeeze the life out of this untapped cash cow until the high stakes superstars and 3rd world shortstackers are the only ones left winning off the fish. Because banning or prohibiting online poker is impossible we need to wait and get legislation made with the poker player in mind.
There are several things in progress regarding the legality of online poker. I'm perfectly fine with the situation US players are in. We certainly want it made legal to attract a lot of new fish and lower costs for the companies so they can lower the rake and give more bonuses although they already make a boatload. The government has 2 lines of thought, votes and taxes. Online poker is in its current state because of votes and has bills to legalize because of taxes.
The Menendez bill has several problems. First it states one has to be 21 in order to play, ignoring the adult 18 year old who can vote, smoke, join the army, and gamble at casinos in states that don't restrict it to 21. The major problem is that this bill will tax 10% of deposits. Many on the 2p2 legislation forum have accepted the government getting theirs, but I have not. Arguments have been made that the site can cover this cost because of lower operating costs. This makes sense until you consider the high stakes games where a fish will lose thousands while the table has raked hundreds.
Barney Frank also has a bill going through the rounds and I'm unsure about the specifics of it. I have heard talk about a 3% on all wagers.
30 million was seized from several bank accounts in California owned by a payment processing company used by every poker site that allows US players. This company is being charged with bank fraud, money laundering, and other stuff related to illegal internet gambling. This scared US players because paper checks were unavailable for a bout 1.5 weeks. In the end $30 million is nothing for these companies and they have a solid shot of winning the court battles.
As soon as the government gets a tax taste of online poker the taxes will only go up. They will squeeze the life out of this untapped cash cow until the high stakes superstars and 3rd world shortstackers are the only ones left winning off the fish. Because banning or prohibiting online poker is impossible we need to wait and get legislation made with the poker player in mind.
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