• Hathaway@lemmy.zip
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    7 hours ago

    Ah, and only 90% of gambling losses. Looks like another point against the poor.

    Not that I’m condoning gambling, but, weird how those things impact polar opposite sides of the wealth gap.

      • Hathaway@lemmy.zip
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        5 hours ago

        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.

          • some_kind_of_guy@lemmy.world
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            5 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)

            • Pyr@lemmy.ca
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              5 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
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            5 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
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              5 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.