Re: Help me out with the new wagering IRS rules (213 Views)
Posted by: Socalman3 (IP Logged)
Date: October 09, 2025 12:05PM
TGJB Wrote:
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> Re 3), Damon Runyon taught at your law school?
No, but Marvin Chirelstein did. Chirelstein was a tax law professor and a horseplayer. If he were alive today and was available to testify before Congress about this particular tax provision he would fricassee any proponent of this provision. There are only two possible policy explanations for this tax provision and any tax professional would agree: (a) it is a political hit job by one faction against another faction or (b) sin tax theory. There is no bona fide economic theory to justify this tax.
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> Re 3), Damon Runyon taught at your law school?
No, but Marvin Chirelstein did. Chirelstein was a tax law professor and a horseplayer. If he were alive today and was available to testify before Congress about this particular tax provision he would fricassee any proponent of this provision. There are only two possible policy explanations for this tax provision and any tax professional would agree: (a) it is a political hit job by one faction against another faction or (b) sin tax theory. There is no bona fide economic theory to justify this tax.
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