In addition to throwing people off Medicaid, the Big Ugly Bill kills professional poker playing

[iemanja]

It changes the law so that gamblers/poker players can only deduce 90% of their losses, so if they lose $100k in a year and win $100k in that same year, they'd pay tax on $10k they didn't actually earn.

This is hardly the most devastating aspect of the bill, but if you're a poker player, or a poker fan like me, it sucks. Word is it may prompt players to move somewhere like Canada, where winnings aren't taxed.

FYI, voting in 2024 was mixed among poker players. Some deep into crypto or assholes otherwise voted for Trump. Others voted for Harris. Some responses to the video say Polk voted for Trump, which doesn't surprise me cause he's an asshole, but this video explains it fairly clearly.

Some Trump supporting players fantasized that the provision would be taken out of the bill in the House, which obviously didn't happen.

Some responses:
@oiler777
1 day ago
17 million people on Medicaid find your anger hilarious.

@Shizzmoney74
2 days ago
Imagine gambling for a living, and then voting for a guy who bankrupted a casino lmao

@wolf-xf6hf
1 day ago
“But I didn’t think the fascism would personally affect me” is what poker players sound like rn

[Wiz Imp]

1. One of the few good things about the bill - assholes like this get screwed over.

Boy that guy has a face that just screams "punch me in the face many times and hard".

[iemanja]

2. Yeah, but they aren't all assholes

Some give sizable amounts to charity.

[Wiz Imp]

4. Understood. I'm sure some are very good people.

But I find satisfaction in the fact that at least this guy specifically is getting screwed.

And beyond that, why should gamblers be able to write off their losses anyway? Seems like an open invitation to income tax fraud.

[iemanja]

5. Because their winnings, their income, is only the amount they win over the amount they spend on buy ins. nt

[Historic NY]

3. We need a tax on golf.

[Ilikepurple]

6. I'm not sure professional gambling needs to be a thing

I feel sorry for the poker professionals as it’s been a spectator sport for a long time, but I do see a silver lining in that it might make other forms of betting, e.g., sports betting, seem a little less glamorous. Im guessing the margins are low enough that all forms of professional gambling (outside the various financial/crypto) will take a hit. I’d like to add the caveat that I don’t really trust something that Trump signs, so I’ll have to take a bit to really understand and digest both the details and effects of this legislation.