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Started By
Message
re: Re: gambling legislation, Rep. Jason Smith wants it reversed this year
Posted on 7/25/25 at 2:59 pm to TackySweater
Posted on 7/25/25 at 2:59 pm to TackySweater
making individual bills for each item would have required 60 votes in the senate to pass them. so nothing would have passed the senate
This post was edited on 7/25/25 at 3:04 pm
1
Posted on 7/25/25 at 3:09 pm to Mingo Was His NameO
quote:
So if you’re running a loss your implication is you’ve made poor business decisions?
Yes or you have a horrid business model.
The problem is that the people in Trumps admin and from Project 2025 contain elements of religious zealots that are fine with corporate churches swindling people but against gambling.
Posted on 7/25/25 at 3:10 pm to Geauxgurt
Yes or you have a horrid business model.
Say you’ve never actually looked at a financial statement without saying it
Say you’ve never actually looked at a financial statement without saying it
Posted on 7/25/25 at 4:01 pm to Geauxgurt
quote:i mean, not every business loss is due to a stupid decision, especially in a bad economy. but if we're saying to hell with all business losses, then i guess so
Poor business decisions should not be something you can write off. Plain and simple.
Posted on 7/25/25 at 5:10 pm to Mingo Was His NameO
quote:
Say you’ve never actually looked at a financial statement without saying it
Oh I have experience, and some loss is expected, but major losses outside of something like a natural disaster should not be a deduction for anyone. It’s part of being a business, you will have losses, but you should not be able to avoid taxes for those.
Posted on 7/26/25 at 10:30 pm to Geauxgurt
quote:
Maybe not gamble $100k?
People are mad at you in this thread but this a spot on answer.
Posted on 7/27/25 at 12:10 am to nola tiger lsu
I don’t think they are mad, just trying to figure out how you should pay 10% on losses. Winnings, yes pay your taxes, Losses pay your taxes? Really
Posted on 7/27/25 at 8:03 am to nola tiger lsu
quote:
Maybe not gamble $100k?
quote:
People are mad at you in this thread but this a spot on answer.
What if I have $20M cash?
Posted on 7/27/25 at 8:16 am to Geauxgurt
quote:
Gambling losses should not be deductible. Plain and simple.
I can see an argument for it, although I disagree
quote:
Nor should business losses or housing losses.
Oh you're retarded, nevermind
This post was edited on 7/27/25 at 8:31 am
Posted on 7/27/25 at 8:31 am to Geauxgurt
You “invest” $100k in the stock market and company goes under. You lose $100k. Should you be able to write it off?
Posted on 7/27/25 at 10:42 am to Mingo Was His NameO
Are you still pretending that anyone cares about your 20 dollar 30 team parlay losses
You act like this law effects you
You act like this law effects you
Posted on 7/27/25 at 4:21 pm to ks_nola
quote:
You “invest” $100k in the stock market and company goes under. You lose $100k. Should you be able to write it off?
You can write that off
Posted on 7/27/25 at 4:22 pm to SDVTiger
quote:
You act like this law effects you
Tax policy effects me every single day
Posted on 7/27/25 at 4:24 pm to TackySweater
quote:
It would never pass. But they should be voting item by item on these things and not having 1000 issues in one that has to pass or fail. It’s idiotic but it’s designed that way to be used exactly how they are using it.
Yep. The way it's designed they can claim the greater good while passing dumbass shite
Posted on 7/27/25 at 4:25 pm to Geauxgurt
How old are you, son?
Posted on 7/27/25 at 4:32 pm to Corinthians420
quote:
Yep. The way it's designed they can claim the greater good while passing dumbass shite
Posted on 7/27/25 at 6:09 pm to Mingo Was His NameO
Well away you can write that off so why not gambling. OP basically said no loss should be able to be written off but I’m sure he does with any loss from stock market gambling. I mean investing.
Posted on 7/28/25 at 1:38 pm to antman123
quote:
making individual bills for each item would have required 60 votes in the senate to pass them. so nothing would have passed the senate
IMHO, voting on bills is literally their job. They should have their asses in there debating actual things and voting on them the majority of their time working. I don't need them making public appearances to keep themselves in front of folks or giving speeches at events to keep donors happy. That isn't their job. Making laws is. There's only 100 of them. Even if they do a voice vote, it shouldn't take hours to vote on something if they get their asses in there where they belong.
Posted on 7/28/25 at 2:48 pm to Mingo Was His NameO
quote:
Tax policy effects me every single day
As i thought. Your 20dollar 30 team parlays are safe
Posted on 7/28/25 at 2:49 pm to SDVTiger
quote:
Your 20dollar 30 team parlays are safe
I don’t bet parlays. Negative EV
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