Originally posted by: O2bnVegas
She isn't one bit interested in the 'new math' for taxation. Maybe her tax person, who goes to casinos with us sometimes, can explain it to her.
Well, maybe she SHOULD be interested! As a frequent high-stakes slot player, she certainly absorbs losses of several hundred thousand a year, so maybe she's blithe about it, considers it just the cost of entertainment (though I personally couldn't abide the thought of pissing away that kind of money just to amuse myself, when there are so many better places to give that money to), or has so much stash that a half-million loss is a flea bite. I dunno.
We all consider what we owe on our gambling to be the taxes on (wins - losses). Simple and fair, right? But now, it's (wins - 90% of losses). At the levels she plays, that amounts to several hundred thousand dollars of extra taxable "income" per year. Just running some hypothetical numbers, the new Turd law will effectively increase her losses by about fifty percent!
Even if I could afford that, I sure as hell wouldn't tolerate it. Of course, as I said, I don't love the casinos so much that I would give them that kind of money, over and over. There are hundreds of worthwhile charitable organizations that could use that money.
I of course acknowledge that it's her money. But...what a waste, and now, what a Trump ripoff!
