The Price is Wrong

Discussion in 'The Howard Stern Show' started by MutteringJohn, Aug 19, 2013.

  1. MutteringJohn

    MutteringJohn Well-Known Member

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    This shit doesn't surprise me. All game shows operate this way. The contestant gets screwed in the end. The only thing I dispute is paying taxes on a $5000 barbecue. If you can show the IRS the actual value of the item they will adjust the taxes. The Price is Right is going to have the highest retail value on the item to impress the audience. I would simply refuse the to take delivery on the barbecue if I could not sell it and receive enough money to pay the taxes and end up with money for myself. Paying state income tax on the proceeds of the prizes to California is typical. Knowing the way that state operates they probably don't even reciprocate with other states and just keep the taxes on the prizes for themselves. You could very well be doubled taxed having to pay California and your own state income tax on the prizes. Price is Right should relocate to Delaware and do the show from there where there is no state income tax.

    There is no such thing as a free lunch ... or an all-expenses paid trip to Acapulco. That's what "The Price Is Right" contestant Andrea Schwartz found out when she scored $33,000 worth of prizes, including a shiny red Mazda 2 compact car, a pool table, and a shuffle board table, on the popular television game show.

    Schwartz told Yahoo! Shine that contestants won't quite know what hit them if they make it on to the show. "It's a whirlwind, they kind of shove you around, and then you are suddenly in the parking lot, saying, 'I just played Plinko.'" You may not be prepared for the hefty taxes you'll owe before picking up your prize, either.
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    "Yeah, you don't just drive off the back lot with the car like I thought the entire time I was growing up," Schwartz said in a recent interview with the A.V. Club. "After the show, you fill out some paperwork and basically sign your life away. You say that you're going to pay the taxes on it. If you win in California, you have to actually pay the California state income tax ahead of time." Uncle Sam will want his cut as well, and if the prize is big enough, it could even bump you into a higher federal tax bracket, further chipping away at your win.While it's not news that people pay taxes on winnings, there are a couple of reasons it can be more jarring on The Price Is Right. You aren't guaranteed to be a contestant–you're sitting in the audience one minute, and then the next, you're playing for the showcase. Plus, the show awards trips and products that you may not be interested in. That $5,000 BBQ? You don't need it, and might not pay as much for it on the open market if you did—but you're still on the hook for taxes on the full retail value.

    Schwartz's car was shipped from Los Angeles to a dealer near her home in Reno, Nevada. Before she could claim it, she had to pay $2,500 in taxes. Luckily, she had won $1,200 in cash playing the show's Plinko game and also had some money in savings – but not all contestants have the resources to even collect their winnings. "I think a lot of people don't understand what they're getting themselves into. They're just like, 'Oh my God, I'm going to win a bunch of stuff,' and then they're going to have to forfeit their prizes because they can't afford to pay the taxes on them," she said. Yahoo! Shine could not reach the program for comment.
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    Another former winner explained on Aurora's Blog that if you win a car, you'll get a call to retrieve it sometime during the 90-day period after your show airs. You only have 10 days to pick it up, and the dealer could be as far as 150 miles from your home address. If you can't arrange the paperwork, tax payment, and pick up within that time, you will forfeit your booty.
    As for Schwartz's other prizes, the pool table and shuffle board table were worth an estimated $14,000, but Schwartz sold them for $4,500 on Craigslist because they were too big to fit into her small apartment. "I took a bite on that one," she said. Because the game show will only deliver to the winner's home address, if a prize (say, the ever-popular bedroom set) is too large, the winner will have to pay for shipping to an alternate location. Schwartz was fortunate that the vendor agreed to store the items for the couple of months it took her to unload them.
    Wondering why Schwartz and other contestants don't take the cash value instead of the prizes? "There is no cash value option," explained Aurora's Blog. "They make it super clear in all of the paperwork – you take exactly what you won, or you take nothing."
    And what about that trip to sunny Acapulco? The tickets are nontransferable, so there is no way to sell it. You had better just kick back and enjoy the beach ... after springing for the sales and income taxes, of course.
    Schwartz says she was fortunate to win a small car and other fairly high-quality, relatively salable items. "If I had won the other showcase, it would have been trips, a refrigerator, and a stove," she told Yahoo! Shine. Ultimately, she invested the money she earned from selling her winnings into a food truck business called the Souper Wagon. Even contestants who wind up winning cash prizes don't always benefit though, thanks to their own personal issues. According to ABC, one winner even turned down an actual cash prize of $10,000 since he didn't want to split it with his ex-wife.
     
  2. tHISisKiSSeL

    tHISisKiSSeL ♡❂❁❀♡ Gold

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  3. chapped

    chapped Well-Known Member

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    [video=youtube;1ytCEuuW2_A]http://www.youtube.com/watch?v=1ytCEuuW2_A[/video]
     
  4. chapped

    chapped Well-Known Member

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    [video=youtube;ZHdjqsSSa_A]http://www.youtube.com/watch?v=ZHdjqsSSa_A[/video]
     
  5. Obi Drunkenobe

    Obi Drunkenobe VIP Extreme Gold

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    90 days to pay the taxes on a free car doesn't sound that bad to me. :dontknow:
     
  6. tHISisKiSSeL

    tHISisKiSSeL ♡❂❁❀♡ Gold

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    [video=youtube;_SEL27xiJGQ]http://www.youtube.com/watch?v=_SEL27xiJGQ[/video]
     
  7. John Smith

    John Smith Well-Known Member VIP

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    10, but who's counting....
     
  8. Obi Drunkenobe

    Obi Drunkenobe VIP Extreme Gold

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    The way I read it is you have ten days after the shows air date to pick the vehicle up. Not sure what the lag time is between show appearance and air date.
     
  9. nearly.normal

    nearly.normal Well-Known Member

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    Waaahhhhaahhhh!!!!

    I have to pay taxes on shit I win and drive to pick it up within a set amount of time!!!!!!!!!!


    WHAAAAAAAAAAAAAA!!!!!!!!!!!!

    That blogged piece of shit reads like the biggest bunch of whiny bitches. The one cunt complained about the whole thing then it says she was able to start her own Food truck with the winnings. Geeezzz.. Thats so horrible.
     
  10. peterfonda

    peterfonda Well-Known Member

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    This reminds me of that stunt Oprah pulled some years back when she surprised her studio audience by giving each person a brand new Pontiac G6 sedan. The audience members (almost all women) were so giddy at the thought of OPRAH giving them a new car that you could almost hear them squirting into their panties.

    Car & Driver magazine later did an article about this giveaway and it's aftermath. First, local dealers were very angry because the G6 was a new model then and in high demand. Problem was, Pontiac hadn't manufactured many yet by that point and dealers were backordered. Yet Oprah was able to get hundreds of them directly from GM simply because she was Oprah. The local dealers were pissed because not only were those hundreds of cars they weren't going to get, but also by giving them away, Oprah was costing them business.

    Second, and as suggested by the The Price is Right article, many of these hausfraus who were given these cars were smacked with taxes by the IRS, who didn't look kindly on the stunt. There were reports of giftees who turned the cars over to the IRS in lieu of tax payments and others had to scramble to pay the extra. Some didn't pay the extra tax and got audited and got into serious trouble with the Feds.

    Bottom line - it just proved the old adage: if it seems to good to be true, it probably is.
     
  11. nearly.normal

    nearly.normal Well-Known Member

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    No one forces anyone to go on the Price is Right and every bit of the legalities as to what they are winning and what their responsibilities will be is spelled out in a contract they sign in order to be on the air.

    I can't believe people have the nerve to complain about being "Smacked", as you say, by something they agreed to.

    But I'm a sure there is some blogger shit head writing an "article" complaining about all the taxes people have to pay on their Powerball winnings also. Poor them.
     
  12. stripes

    stripes Active Member Banned User

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    this part was funny......Even contestants who wind up winning cash prizes don't always benefit though, thanks to their own personal issues. According to ABC, one winner even turned down an actual cash prize of $10,000 since he didn't want to split it with his ex-wife.:facepalm:
     
  13. itpdude

    itpdude New Member

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    Ha ha, loved that part of the story. That dude was, "fuck that bitch! I ain't takin' a DIME!!!"

    I'd summer at my grandparents as a kid and they'd watch that silly show. I remember getting all excited about the prizes and they'd always throw water on my excitement: "They'll have to pay taxes on that stuff."

    I always thought the contestants could get a cash-equivalent prize. . . . say they win a $20k car, they could opt out for $20k cash. . . . guess I was wrong.

    It reminds me of the old Bill Veeck trick where someone would "win" a goat as a prize.
     
  14. TaTa Toothy

    TaTa Toothy New Member

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    Everyone here seems to be missing the larger issue at hand. What gives the government the right to take a cut? FUCK those thieves at the IRS!
     
  15. itpdude

    itpdude New Member

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    The 16th amendment to the US Constitution.

    And the full-force of the US government.

    Not that I agree necessarily, but that's the long-and-short of it. It's a legal-positivist argument that became the prevailing legal-wisdom following the US civil war.
     
  16. HowieStearn

    HowieStearn HateClub

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    [​IMG]
    Oh my God! I'm fucked! I can't pay Obama's IRS taxes!
     
  17. MutteringJohn

    MutteringJohn Well-Known Member

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    It's several months.
     
  18. SouthernListen

    SouthernListen I don't follow the crowd. Sorry about that. VIP

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    Are we supposed to feel bad for people who have time to go participate in game shows, win money and prizes, and don't understand the concept of income taxes? If you win something shitty, refuse it. If you don't have $2500 in the bank you need to be working, not going to watch game show tapings.
     
  19. nicksgt

    nicksgt Well-Known Member

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    Was watching a few months ago and there was a straight up gangsta that won a jaguar that I couldn't even afford on my healthy salary. First thought was yeah....good luck ever getting your hands in that car.
     
  20. MEGAdawg

    MEGAdawg Well-Known Member VIP

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    Whaaaa...

    I have to pay taxes on my brand new car?

    What a buzz kill.


    Whaaaa...