That’s the point. Poor people gambling can’t write off their losses on taxes. Well, they can, just only up to 90%. Rather than all of it like it has been.
Comment on YSK that americans can now deduce private jet expenses from their taxes
quick_snail@feddit.nl 14 hours agoIn my experience, poor people gamble a lot. I’ve never seen a rich person buy a lottery ticket
Hathaway@lemmy.zip 14 hours ago
AA5B@lemmy.world 3 hours ago
Does it require them to itemize? Most cant
quick_snail@feddit.nl 13 hours ago
Pretty sure poor people don’t have enough money to hire someone who can write off losses
some_kind_of_guy@lemmy.world 13 hours ago
They don’t make enough to itemize in the first place, they’ll just take the standard deduction. (Unless they lost like $20k on scratchers somehow)
burgermeister@sh.itjust.works 13 hours ago
Anyone can write off stuff on their taxes. It’s pretty easy actually.
Pyr_Pressure@lemmy.ca 13 hours ago
I’m always terrified to write stuff off because I fear I will accidentally write something off that I’m not really allowed to due to some obscure legalese and then I will get audited in 5 five years and owe 10 grand in late fees and interest or some shit.
Hathaway@lemmy.zip 13 hours ago
It’s not hard to file taxes. Especially for an individual, with a normal W2 income, and not much else. Certain people try to make it hard, but it’s not.
I don’t need to pay someone to put a number on a form.
toddestan@lemmy.world 13 hours ago
Most poor people probably just take the standard deduction anyway. It’s not like they have enough money to accumulate a large amount of deductible expenses anyway. Possible exceptions might be large medical expenses or a mortgage.
quick_snail@feddit.nl 13 hours ago
The rest of the world: nah, its insane and difficult that you have to file taxes
IronBird@lemmy.world 4 hours ago
rich people gamble plenty, they just call it investing and get way more tax write offs for doing so