I'd happily give up my gambling deduction if the standard deduction for a married couple goes from $12,000 to $50,000, like I have seen reported. It would have to be a monster gambling year for gambling losses claimed to be greater than the increased standard deduction.
I also read that the number of people who itemize would go from about 53 million to 4 million. That would be a good thing as well. The only thing missing is where does he make up of for the $2 to $9 trillion dollar loss in government revenue?
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Posted by: greeklandjohnny@aol.com
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