Native Americans/What would you do with $80,000?
- Thread starter Human
- Start date
Correct, but they also pay zero taxes (property, income, etc) on revenues generated from the casinos. We're a treasure to the Caesars name, as "management fees" are a percentage of net income, and ours is the highest, simply as a result of zero property/income tax.
Think of it this way. There is another, non-reservation casino that makes close to what we do on a monthly basis. After taxes and fees, their numbers are crap. They pay the management about $940K a month. We pay the management about $4.3 million a month.
I guess it's all about profit in the long run.
It's about nothing else.
There's the Shinnecock tribe on Long Island, NY. All they do is bitch and moan about bullshit and sell cigarettes for $2 a pack.
Now they are demanding a casino - in New York City (not the "tribal" lands because it's too small and surrounded by the Hamptons).
But the very best part about this is that the last Shinnecock Indian died in the 1800s. The Shinnecocks are simply black people.
But don't take my word for it, just google it and see for yourself.
Most large corporates also pay very little tax due to offshore vehicles, special arrangements etc, so seems fair enough to me.
The Indian Casino's are bullshit. Either make gambling and casino's legal everywhere or not legal at all. This thing that we owe the Indians is crap.
And one time $80K is nothing. I know Natives getting that and much more each year. This combined with low interest no qualifying tribal home loans, free land to build homes on, and all types of perks. Un F'ing believable.
I do not give a crap if they have casinos, but making it so I cannot because I am Dutch - that's BS. If I build a house I have to pull 10 permits and spend $50,000+ in fees, build it 2 blocks away on Indian land - no permits, no fees. Not to mention they do not have to worry about endangered species or anything. Its all BS.
But back to the topic at hand. The good thing is that most Natives are like the OP's friend - blowing the money right back into the economy.
And one time $80K is nothing. I know Natives getting that and much more each year. This combined with low interest no qualifying tribal home loans, free land to build homes on, and all types of perks. Un F'ing believable.
I do not give a crap if they have casinos, but making it so I cannot because I am Dutch - that's BS. If I build a house I have to pull 10 permits and spend $50,000+ in fees, build it 2 blocks away on Indian land - no permits, no fees. Not to mention they do not have to worry about endangered species or anything. Its all BS.
But back to the topic at hand. The good thing is that most Natives are like the OP's friend - blowing the money right back into the economy.
May hustle the highest % for money market from AA+ bank Dont get less then 5%... Typically 5-10% based on how much you can hustle off them Investment Advice : About Money Market Accounts - YouTube
They pay federal income taxes. There are about 10 states in the US where nobody pays state income tax. One of these is Alaska, where they also issue oil profit sharing checks to everyone in the state.
Texas Longhorns TV Network: UT Inks $300M Deal With ESPN
The University of Texas does not pay taxes on that. Also, they draw 100,000 per game and own the stadium. They do not pay property taxes as no government run institution pays property taxes. Texas has no state income tax.
Do you feel the same about lottery tickets? Walmart and everyone else is banned from having their own lottery tickets. State governments have a tax-free monopoly on them and take in a lot more money than the casinos.
Treaties were signed giving them the right to control certain aspects of their government, just like the feds allow Nevada some leeway in how their state is run. At state levels, store owners in certain counties are banned from selling alcohol or Hustler magazine, but those in the next door county are not.
It's because you reside in a certain area of land that is defined by imaginary lines. The natives cannot set up a casino in Hollywood, whereas you can in Vegas.
Fine by me.
I recently wanted to start a raffle with a non profit I am affiliated with where we were giving away a home - no can do. State does not allow the raffle to use proceeds to pay for the prize.
The feds are not allowing "leeway" - its states rights.
The natives can set up a casino in Vegas just as I can. But I cannot set up a casino wherever they can.
So natives can have slots, roulette, craps, and cards (yes I know they are derivations of these to get around the precise games of chance rules)
Other citizens can only have card rooms.
Either gambling is legal or it is not - this pussy footing around the issue giving favoritism to certain groups is crap.
The small Shakopee Mdewakanton Sioux tribe here with the closest casino to the MSP metro area gives members about $250k and a piece of land when they turn 18, then around $80,000/month from casino profits after that if they keep their "main" residence on the reservation. They get checks every two weeks for almost $40k.
And states, like the feds, choose to recognize native tribes as domestic dependent nations.
So would you prefer the feds to enforce one broad gambling policy and not allow state and/or "domestic dependent nation" rights on this issue?
You can't be an official owner, but you can be an outside investor. This is the case with Len and Mark Wolman, who earn $10 million a year from Mohegan Sun.
Casino jackpot went to investors - The Boston Globe
fuck me, im half native and i only got like 2k when i turned 18. the tribe im associated with only opened up the 2 casinos they have like 7 years ago. Either way we don't get shit. I think we get like 200$ every year? LOL. Time to go find me a Shakopee Mdewakanton Sioux girl.
Im enough % Cherokee for it, don't care
Seminole Tribe bought the Hard Rock cafe from bingo money
Seminole Tribe bought the Hard Rock cafe from bingo money
Your laziness is causing you to miss out on $8K a year, plus backpay from 18 years old onward.
But yes, this started out as a bingo hall, then expanded, and expanded, and expanded.