Subject: TAXATION OF GAMBLING Comment: I HOPE THAT THE PANEL WILL RECOMMEND CHANGING THE WAY GAMBLING INCOME IS TAXED. A FAIR METHOD WOULD BE TO TAX NET GAMBLING INCOME. THE CURRENT METHOD OF PUTTING GROSS GAMBLING INCOME IN ONE PLACE AND ALLOWING GAMBLING LOSSES TO THE EXTENT OF GAIN IN ANOTHER PLACE CHEATS A LARGE NUMBER OF PEOPLE ESPECIALLY SENIOR CITIZENS LIKE MYSELF WHO FIND THAT THEY HAVE TO PAY TAX ON THEIR SOCIAL SECURITY INCOME EVEN THOUGH THEIR NET GAMBLING GAIN IS ZERO. |