sbl

If I entertain the boss or take him on a fishing trip--I may be doing it to increase my income as well, but I can't deduct it. I know many people in business that make a reason to travel where they want to go hunting or fishing or take their buddies out for entertainment. Sure, sometimes it is a legitamite expense, but it is definitely a benefit.

If I make $100,000 at my job and loose a couple thousand on a stock investment, Uncle Sam pays 28% of my loss (by reducing my tax on my income). Why shouldn't I have to pay 28% when I make a couple thousand in capital gains the next time I gamble on some stock even if I did own it for a yr or 2. I am more proud of the money I earn by working--why should I pay less tax on money I get just for being lucky--especially when Uncle Sam is willing to back me (or anyone) for part of the loss when I lose money gambling on stock.