• Get involved.
    We want your input!
    Apply for Membership and join the conversations about everything related to broadcasting.

    After we receive your registration, a moderator will review it. After your registration is approved, you will be permitted to post.
    If you use a disposable or false email address, your registration will be rejected.

    After your membership is approved, please take a minute to tell us a little bit about yourself.
    https://www.radiodiscussions.com/forums/introduce-yourself.1088/

    Thanks in advance and have fun!
    RadioDiscussions Administrators

Here's Why 'The Price is Right' Gave a Treadmill to a Contestant in a Wheelchair

I've always thought that I'd rather be on a game show that mainly gave away money, like Jeopardy or Millionaire. That way I could pay the taxes out of the winnings.

Jewelry is probably the most useless and overpriced prize of all. I'd guess that the fact that it comes from some high priced LA jeweler probably inflates the declared value on taxes. Even for women who might win it, how many of them would actually wear it? My wife has said that she thinks a lot of that jewelry is ugly anyway, and I can't picture her wearing it with the t-shirts and jeans that she usually wears. Even when she dresses up for church it's very causal. :rolleyes:
 
anotherguy said:
I've always thought that I'd rather be on a game show that mainly gave away money, like Jeopardy or Millionaire. That way I could pay the taxes out of the winnings.

Jewelry is probably the most useless and overpriced prize of all. I'd guess that the fact that it comes from some high priced LA jeweler probably inflates the declared value on taxes. Even for women who might win it, how many of them would actually wear it? My wife has said that she thinks a lot of that jewelry is ugly anyway, and I can't picture her wearing it with the t-shirts and jeans that she usually wears. Even when she dresses up for church it's very causal. :rolleyes:
Click to expand...

jewelry is easier to pawn for tourists in LA than furniture or a treadmill
 
They do Family Feud in Atlanta---what are taxes like there?

But regardless of state income taxes, the federal piece is still in play.

And the point was about potential usability beyond the person on the stage.
 
nomadcowatbk said:
jewelry is easier to pawn for tourists in LA than furniture or a treadmill
Click to expand...

Probably true. I know that's what I'd do with it. But would the IRS tax you at the declared value or what you could pawn it for? I'd guess there could be a big difference between the two.

nomadcowatbk said:
why don't they produce any game shows in places with little or no taxes, like Texas, Florida, or Kansas?
Click to expand...

Millionaire had some tax free weeks where they would add enough to the winnings to cover taxes.

Bob Eubanks said:
They do Family Feud in Atlanta---what are taxes like there?

But regardless of state income taxes, the federal piece is still in play.

And the point was about potential usability beyond the person on the stage.
Click to expand...

Since they're another show that gives away mostly money that wouldn't be as bad a problem.

There was a woman from my home town of Dyersburg, TN that won a car at one time on TPIR. She had to pay both CA and TN sales taxes and income tax before she could claim the car. She was lucky enough for her family to come up with it.

There was another woman from Dyersburg that was on Deal or No Deal and won big. But since she won money, there was probably no problem in paying the taxes from her winnings.

I think that game shows that are mostly prizes like TPIR should give contestants the option of taking the cash value of a prize if they win prizes that they can't use, don't want, or can't afford to pay the taxes on.
 
Last edited:
anotherguy said:
Probably true. I know that's what I'd do with it. But would the IRS tax you at the declared value or what you could pawn it for? I'd guess there could be a big difference between the two.



Millionaire had some tax free weeks where they would add enough to the winnings to cover taxes.



Since they're another show that gives away mostly money that wouldn't be as bad a problem.

There was a woman from my home town of Dyersburg, TN that won a car at one time on TPIR. She had to pay both CA and TN sales taxes and income tax before she could claim the car. She was lucky enough for her family to come up with it.

There was another woman from Dyersburg that was on Deal or No Deal and won big. But since she won money, there was probably no problem in paying the taxes from her winnings.

I think that game shows that are mostly prizes like TPIR should give contestants the option of taking the cash value of a prize if they win prizes that they can't use, don't want, or can't afford to pay the taxes on.
Click to expand...

sponsors give merchandise to game shows, not cash
 
I wouldn't take my chances in TRYING to audition for TPiR today. Reason why? I bid 500...someone always has to bid $501. There should be a $10 or $25 difference in bids. All of those idiots that bid $1 or $2 I can't stand. If I bid 500 and the winner won with $501 I will have the feeling to smack them.
Ah...Wheel of Fortune...relief from screaming people after they find out they are playing for a new car. People who win on the Prize Puzzle are clapping and happy, not screaming their butts off and jumping up and down like crazy, which is what you see on CBS at 10/11AM weekdays.

I cannot stand Family Feud and Celebrity Name Game for almost the same reasons. People on Feud shout out private parts and sexy answers to find out how Steve Harvey will react. CNG players sometimes "pass" on celebrities anyone with an IQ of over 70 would know. I've seen people pass on Porky Pig, and way too many 80s and 90s celebrities. What?! Craig Ferguson enjoys that show, but it's not one of my favorites like Wheel.

-crainbebo
 
And if you have anger issues over a game for which that has been an element for four decades, perhaps best not to worry about making it on the show. :cool:
 
I think one of the best decisions on a game show that was made was when Wheel of Fortune changed to giving away cash instead of making contestants buy prizes. I know they still give away prizes but at least the contestants have a chance of winning enough money to take care of the taxes.

The only game show with prizes that I've ever really liked was Press Your Luck, but that was for the fun of the game.
 
anotherguy said:
I think one of the best decisions on a game show that was made was when Wheel of Fortune changed to giving away cash instead of making contestants buy prizes. I know they still give away prizes but at least the contestants have a chance of winning enough money to take care of the taxes.
Click to expand...
I seem to recall a contestant not wanting the prizes and being told he or she bought them. And one problem as that as long as you had the money, at was always nagging you to buy something that was left. It was like you didn't have the option not to or it would make that company look bad. I must have watched at one time to know this.
anotherguy said:
The only game show with prizes that I've ever really liked was Press Your Luck, but that was for the fun of the game.
Click to expand...
The Whammy, mainly. You would actually want the person to land on it to see what it would do.
 
vchimpanzee said:
I seem to recall a contestant not wanting the prizes and being told he or she bought them. And one problem as that as long as you had the money, at was always nagging you to buy something that was left.
Click to expand...
"Purchase" was a gimmick. They weren't actually bought, you do realize, don't you?
 
Somewhat on topic, here's an interesting article on why you don't really win $1 million on America's Got Talent (and some other shows):

...the winner of America’s Got Talent does not become an instant millionaire. The winner receives payments of $25,000 per year for the next 40 years. One basic rule in finance is that a dollar today is worth more than a dollar tomorrow, because of inflation, so the winner may never actually become a millionaire in inflation-adjusted terms unless he or she saves and invests every dollar received.

If the winner of America’s Got Talent wants to receive the entire prize in one year, the $1 million that would normally be received over 40 years is discounted to a present value. The show’s disclaimer does not reveal what discount rate they use to calculate the present value of a 40-year annuity, but assuming a rate of 4% or higher would result in a present value of less than $500,000, less than half the advertised prize amount.
Click to expand...

http://blog.caseyclayhall.com/post/60853365675
 
Don't they also own your likeness for 5-10 years, depending on the show? I read years ago about these talent/reality contests where they control where you appear and what you can say after winning. One of the many reasons I hate the genre.
 
Even if I was offered $999,999 to appear on ANY type of talent/singing/dancing/goofing off/comic/judging TV show, I still would say "heck no, but no thanks".
And by the way, AGT is a scam. I have seen 25-year annuities...but 40 years is WAY too much. If the contestant winning AGT is 22, they will almost be in the retirement age by the time they get their last $25K.
I also wouldn't be surprised if they DO tell you where to go, what to do, what to say and how to say it...even long after you win (or are eliminated).

-crainbebo
 
Perhaps said $25K would come at retirement age, but then again, it would be $25K more than they'd get if they don't win (along with all the other $25K checks along the way).
 
Status
This thread has been closed due to inactivity. You can create a new thread to discuss this topic.


Back
Top Bottom