The corporate media is in full panic over a single provision in President Trump’s new tax reform bill: a small change with the potential to weaken not just America’s gambling addiction, but the seedy networks that profit from it. The provision reduces the amount of gambling losses a person can deduct from their winnings. Instead of writing off 100 percent of their losses, gamblers would only be allowed to deduct 90 percent. That means gamblers who break even, or even lose money, could still owe taxes. Under current federal tax law, gamblers both professional and casual can deduct their gambling losses up to the amount of their winnings. That means if you win $100,000 in a year but also lose $100,000, you owe no tax…
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