Trump Reveals Plan To Tax Gambling Losses, Degens Now 10% More Unlucky
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Trump’s Big Beautiful Bill just got a gambling amendment from the Senate as it makes its way to the final rounds of debate that might cripple all you unlucky degens out there.
An iddy-biddy beautiful part of the big beautiful bill is an addendum saying that deductions from gambling winnings would be limited to 90% of losses, if the bill passes.
Now, what this means is that, let’s say I earn $100, I’d get taxed on those winnings. That’s income, so that’s taxed. Fine. Now, let’s say I also lost $100, with my $100 winnings, now I’ve made nothing. No income, no tax right? WRONG! With this law you could only reduce $90 from your taxes. You’ve earned nothing because you suck at gambling and now, just to kick you in the balls when you’re down, you have to pay $10 to the government.
Now if you didn’t follow that, you’re probably confused because, yeah, it’s confusing. But if you did follow that, you’re also probably confused because, yeah, it makes no sense. Why you got to tax me on the sweet load of nothing I’m making? That’s what VAT is for!
Professional gamblers are up in arms as this law would make it much harder for them to earn a living. Should it pass, full-time players might even be driven out of US casinos and turn to unregulated, dirty, foreign casinos to make that dollar. This will likely lead to only more malleable, casual players at casinos, meaning that, once again, the house always wins.
Who knows if the whole bill will even pass, and if it does, whether this little paperclipped bit will have made it through. But either way, it looks like the only one GAMBLING here is Trump… with our VOTES that is! Hahaha, see what I did there?
For more gambling news, check out: Top 5 Degen Bets This Week
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