Local gambler, owner, breeder facing prison time

[Indian Charlie]

Originally Posted by Calzone Lord

One of the biggest horse bettors here just pleaded guilty and is looking at a max of 3 years in federal prison.

The investigation by the IRS all started because the race horses he owned and bred kept showing losses each year. Horse owners are required to show a profit 2 of 7 years in order to avoid being called a "hobby" by the IRS -- writeoffs become limited at that point.

http://www.goerie.com/article/201206...deral-tax-case

I've known this Dr. since I was 16. He would play big Pick 6 tickets for several thousand dollars everytime there was a carryover. I knew he cleaned up on this years Oaks/Derby double. He's had some days where he's made well over ten grand betting horses. I heard he scored out for about 24k on that bet.

The last few months I've seen him a lot in the casino very late at night. One of the days he loaded up on a hard eight and caught it a couple times. My girlfriend looks over to me and says "Oh my gawd! I could buy a new car with all of those chips!"

This is a 100% non violent guy. This is a man who, because of what he bets, has paid more money in taxes than many rich men would ever dream of paying. He doesn't deserve jail.

They say he stiffed the govt for $138,777 on taxes ... I'm plenty sure he's paid a hell of a lot more than that in taxes on his betting.

It's not unheard of, persecuting people with the IRS for things not related to taxes.

Also, he didn't stiff the govt for 138k. He stiffed the IMF, which controls/owns the IRS.

[Calzone Lord]

It's annoying to see one of the regular faces fall.

The guy had a lot of passion for horse racing and betting. He had been like furniture at both PID and the local simulcast parlor long before that.

If he did commit tax fraud -- all that money he benefited by doing it went directly to his gambling...and his gambling was always horses unless it was after like 10PM.

[Indian Charlie]

The only tax fraud that happens is whenever anyone pays their federal income tax.

[Calzone Lord]

Originally Posted by Indian Charlie

The only tax fraud that happens is whenever anyone pays their federal income tax.

Generally, people who make 400K a year should be taxed hard by the man.

A guy like this might be doing very deceptive things to fund his betting ... but ultimately, he's paying WAY more than his fair share for a person of his income and he's doing it playing a game that is mentally challenging and stimulating. It's harmful to no one and in ways mentally beneficial.

Having him rot in a jail cell on the tax payers dime benefits no one. Letting him work so he can pay back that 138K is punishment enough.

I'd love to see a breakdown of all the money he's bet over the last 15 years -- and how much of that handle went to betting taxes that are designed to discourage a person like him from having anything at all to do with the sport of horse racing.

[Indian Charlie]

UGH. You don't get it.

The federal income tax is illegal. Neither the Federal Reserve nor the IRS is actually part of the US Govt. They are both owned by international banks.

[pmayjr]

Originally Posted by Indian Charlie

UGH. You don't get it.

The federal income tax is illegal. Neither the Federal Reserve nor the IRS is actually part of the US Govt. They are both owned by international banks.

I learned something new everyday. Probably explains why they're so swift in garnishing wages and penalizing people who don't files taxes, evasion, etc

[Indian Charlie]

Originally Posted by pmayjr

I learned something new everyday. Probably explains why they're so swift in garnishing wages and penalizing people who don't files taxes, evasion, etc

I'm glad you learned something.

I'm just surprised I didn't get a slew of fuggtard type responses accusing me of tin foil hat wearing.

[PatCummings]

While it might have all started with an inquiry into his gambling or horse ownership, the tax issue has nothing to do with that, and uncovered a significantly greater situation, under-reporting about $400k total in income. It really has nothing to do with racing, his betting, or anything else.

[pmayjr]

Originally Posted by Calzone Lord

It's annoying to see one of the regular faces fall.

The guy had a lot of passion for horse racing and betting. He had been like furniture at both PID and the local simulcast parlor long before that.

If he did commit tax fraud -- all that money he benefited by doing it went directly to his gambling...and his gambling was always horses unless it was after like 10PM.

How many people on this board could that statement apply to lol (pointing at myself as well). Hopefully he can find a way to show extenuating circumstances or get some sort of plea deal.