Originally Posted by Dan Druff View Post
5) Casino advantage players will definitely not be affected. There is no reliable tracking of their wins and losses, as they typically play on multiple players cards (many not in their own names), as well as often with no card at all. Their wins/losses on their taxes are completely self-reported and unverifiable beyond a very rough number. I can assure you that very few casino APs report their actual winnings to the IRS. Most report a number they feel they can get away with defending if audited. So these people will just tack on another 11% of losses, and the new law will be negated. There will be no proof they did this, in most cases.
Just lie harder and you probably won't get caught. Insightful analysis.

Not sure if mentioned (or true), but the way I caught it, Congress has a "reconciliation" procedure that allows them to approve stuff with a simple majority. But it has to be revenue-neutral, so when they add a spend, they have to "pay for it." In this case, they grasped at the 90% restriction to offset something else.

In my view, this sets the stage for further cuts (to 80 or 70%) the next time they're out of balance.