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#1
07-18-07, 01:21 PM
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Baby steps, Kurn, baby steps.
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#4
07-18-07, 06:44 PM
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So what? He's absolutely great for poker. Nice counterpoint to the fundies who want to shut us down.
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"Animals die, friends die, and I shall die. But the one thing that will never die is the reputation I leave behind." Old Norse adage |
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#5
07-18-07, 06:43 PM
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The Frank bill is not baby steps. It is legalizing internet gambling in the US. That is a huge step. Let's not penalize the very people we want to attract to the game. There's a thread on 2+2 with a guy who made $10,000 on wins of $180,000 and losses of $170,000. Do we really think he deserves $180,000 added to his AGI for $10,000 in actual income? If it's going to get done, let's get it right.
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"Animals die, friends die, and I shall die. But the one thing that will never die is the reputation I leave behind." Old Norse adage |
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#6
07-18-07, 07:49 PM
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Of course not - and I personally struggle with this exact problem every year. But you're confusing the legality of online poker with Federal Tax codes. I don't ee why it has to be all or nothing. Just introduce a new bill to update/fix the tax codes (which really have nothing to do with online gambling anyway - they apply to B&M play already).
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#7
07-19-07, 09:29 AM
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You're right, of course, and I'm not arguing with you.
I just think we're not paying enough attention to the short-term impact the tax code will have on the game. The reality is this: If the unnamed player above made his money at a B&M and just put the net on his return and payed his taxes, the IRS would say thank you and move on. Why? No paper trail. And you know, there'd be nothing ethically wrong with reporting the net, despite the rules. Once the specter of cyber-reporting is introduced, the natural mechanism for correcting the injustice goes away. I'm harping on this because people will get screwed. Not to get all G. Gordon Liddy on you, but this is an obvious example of malum prohibitum vs. malum in se Its all academic anyway, as the Frank bill will not pass.
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"Animals die, friends die, and I shall die. But the one thing that will never die is the reputation I leave behind." Old Norse adage |
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