Justin Casten: yes we can - spend all your money
Pam Rampadarat: Maybe they mean 95% of all taxpayers.But the math does not work, even of you tax the top 5% of all wage earners at 100% you could not pay for all the increased spending that Obama wants, so the money is coming from somewhere.
Carter Edstrom: Why do ppl so blindly accept the 95% tax cut lie? Can they do the math? U libs can call this a rant but its a rant based on truth. You can TRY explaining it away by using your "feeeeeeeelings"
Gaston Edgcomb: Gambling is entertainment. Most entertainment expenses can't be written off for personal use.
Chadwick Schmelz: BTW-----hyper inflation is on the way, so when the dollar is worth 10 cents alot of middle class ppl will suddenly make "250 K" you know....rich small business owners
Azalee Ahrendes: It's not a "tax cut"It's actually "national welfare"You see, they take money from working people and give it to people who ! do not work and who do not pay taxes....Show more
Christy Tirabassi: yes it should
Coleman Ocegueda: I think it would give our nation a 'can do' spirit
Oscar Waddups: It is actually a tax credit that pays workers 6.2 percent of their earned income, up to a maximum of $400 for individuals and $800 for married couples who file jointly. Everyone who works pays payroll taxes and and has money withheld from their pay check. People receiving social security get $250.
Elaina Adolfson: Hey truth seek...based on your answer you dont have the brain capacity to explain it.
Tom Romer: Ohhh c'mon just take a sip my pretty, kool-aid is gooooooooooood for you. muuahhhhhh
Lia Argall: It is odd if you can do this. However, please check the law very carefully before you try to take this kind of deduction. I don't gamble but read the Wall Street Journal sometimes, and I think the Journal in past years has run brief news items on people who got in trouble! with the IRS for attempting this kind of write-off. Have you! actually checked with the IRS itself to see if this is allowed, or only with your professional tax preparer?...Show more
Myesha Zerbe: What?
Carlee Tangaro: But you also get taxes for gambling wins. Without a cap.Is 2% really that much? If your AGI is $50,000, that's only $1000. Many people lost $1000 when they go to Vegas.
Wilbur Marksberry: I honestly don't know how to explain this using "feelings."95% of the population makes wages below $250k. It doesn't take math to figure this out. Therefore, you are a simpleton. There are my "feelings."Not to mention you don't reference any of your inaccurate claims. Want more feelings? Here's more. If you don't make more than $250k a year, which I doubt you do, then you are complaining about everything that has nothing to do with you. And that's not even my problem. This is all how I "feel" even though I am actually using logic....Show more
Hunter Beech: Yes. Nobody should be able to do that. Gambling is! foolish entertainment, nothing more.
Ty Kirton: Simply put , it's a vote buying scheme for the democrats, nothing more.
Linwood Mccory: I like Skooz's answer; how true! But really, according to government figures, 10% of Americans make 80+% of the income, and 10% is made by less than 2% of Americans. The taxcuts went to "taxpayers". It's 95% of "taxpayers" who got the "cut", DUH! How do you cut 0 taxes?
Stormy Beliard: Actually, and based on your seemingly low inteligence you wont comprehend this fully, I did the math for tax policies and revenue created and you increase the revenue greatly by taxing top 5 percent more than botton 95% more....
Rocio Karvis: If you do not change the tax rate for the year 2009 and just change the with holding rate, you will have to repay your extra $13 bucks a week when you do your taxes next April. That is if you pay taxes.If you don't pay taxes then your refundable tax credit is another handout, an entirely knew for! m of welfare.Imagine the only people who actually get a tax break are t! hose who don't pay taxes.Brilliant....Show more
Carter Dewater: "It's like the Special Olympics"He said it himself...
Mikel Bethay: It does seem strange, but you're required to pay taxes on your gambling winnings, so it should go both ways.
Delora Struzzi: Don't you understand? A refundable tax credit (giving people money) is a tax cut. It doesn't matter whether you pay taxes or not, as long as you get the benefit from it.(it really is insane, isn't it :))...Show more
Joie Libutti: Why not? You're taxed on gambling winnings.
Marna Liddie: Yes.
Jene Kostyla: No. You can offset gambling losses if you have gambling income but the gambling losses can't be more than the gambling income. I see nothing strange about that.If you have entertainment income, you can claim related entertainment expenses. I really don't understand your problem with that.
Elva Batie: No. Because in 12 months it's going to be "Oh no you didn't!"
Floy Fa! gue: "Badges? We don't need no stinking Badges!!"
William Vickerman: When they stop taxing winnings, then you can cut the deduction for losses.
Pattie Vold: Joe in Texas is on point.
Lady Laflin: You can deduct gambling losses only if you itemize your deductions on Schedule A of the Form 1040. The deduction would have to go down as a miscellaneous deduction. To deduct your losses, you must be able to provide receipts, tickets, statements or other records that show the amount of both your winnings and losses. But here's the thing, you cannot claim gambling losses that were more than the gambling income you report on your return. So say you won $5000, which would have to be reported as income. But say you lost $8000. You can't report a loss of more than the $5000 you won. Another scenario, you won $500, but lost $3000. Guess how much you can write off? Right $500. So you see, you just can't report a gambling loss of whatever amount, especially if you haven't! won at least the same amount....Show more
Guy Bonamico: not as o! dd as getting a 1099 with your winnings.
Kenneth Blacker: If you're actually a gambler by occupation, all losses can be written off against winnings.
Bailey Lares: uh- Yes We Can __________ . -Bring the country to ruins.-Destroy Economy.-Take control of entire country.-Be the first person of color to be president..hmm-Let Russia and China take over the US.-Be friends with terrorists. -Become World Ruler.No thank you....Show more
Hipolito Rightmire: I like the new bumper sticker Socialism-a great idea 'til you run out of other people's money.
Libby Berkovitch: Impossible; especially since 5% pay 90% of all income taxes collected (except Democrat cabinet members, of course).
Bethanie Menden: Why not? Those assclowns in Congress gamble with our money every year
Jeannine Vassie: Used to be you could write off your ;osses only to the extent of your winnings.
Ricky Frazer: THEIR CATCH PHRASE SHOULD BE"DID I DO THAT"
Rosella Figlio! la: That is weird, because gambling is supposed to just be considered entertainment. Can I write of the 2% of my income that I spend on video games as my entertainment?I think all these write-offs and exceptions and credits in our tax system need to go. Just state what percentage people have to pay and leave it at that.
Newton Fedorko: "We Know What's Best for You!"
Rachal Osaki: Your God said "95% of americans will get a Tax Cut" not taxpayers. The 50% that dont pay will get a check. How does a handout turn into a tax cut. Theres your answer Don
Janeen Perona: No. Not everyone worships 0bama.
Randal Deyarmond: Sly--adding taxes to the rich will raise revenue the 1st 2 years. But like history repeating itself, the rich will cut back and the motivation to become rich will die which means less 5 percenters that pay into that high income tax bracket which means less money going to Govt.
Katheryn Skrobacki: Yes, that's odd, especially since shootin! g dice on the street corner is illegal.
Ayesha Genova: Are you "f! eeling" that?
Dedra Furguson: It should be more like, "Oh No, They Did....Bankrupt The Country!"
Tyrone Disanti: "Yes We Can' what?What can you do?It's stupid, and only mindless drones follow slogans.
Omar Phipps: It's my understanding that you can only write off gambling losses if you are reporting gambling income.If you win over a certain amount of money, the casinos will make you fill out a tax form that gets reported to the IRS.So, if you win a 14,000 slot jackpot, you're going to get nailed for a lot of taxes and, since most people lose a lot more gambling than they win, it's fair to be allowed to subtract your losses from your winnings before you pay taxes on it....Show more
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