Rand Paul Tax Plan

[Benton]

(06-21-2015, 01:32 AM)JustWinBaby Wrote: You still seem to be struggling with the that gambling losses offsetting gambling wins are not deductions or any sort of taxpayer subsidy.  It's the investment or cost you incurred to win that money.

Secondly, you play with chips/credits and not money.  If you purchase $100 of chips, and then cash out $50, you lost $50.  There's no "hobby income" to be taxed.  It's compete bizarre to think of the intermittent wins throughout the session as taxable gambling winnings - there is no income but rather your "hobby" just cost you $50.

You're struggling with basic grammar.



Secondly, if you buy $100 in chips, lose $50 and cash out $50, there's not income. Which isn't the same if you buy $100 in chips, win $100 and cash out $200. 

Basic math is a struggle, but 200 > 100. 


And since when were slots and other forms of gaming not done with money? I've never put $20 worth of chips in a slot machine. I didn't win $60 on the Derby betting $20 worth of nothing.