Why does the govt subsidize stock market gambling?

[Anonymous]

If you lose on the stock market, why should you get a tax loss write off?

I never understood why the govt is essentially subsidizing peoples' gambling on the stock market. I take advantage of it of course, but I don't get tax write offs when I lose money at black jack in Vegas, yet I can write off all of my losses in a year and get tax deductions for them if I literally gamble on the stock market.

It also creates perverse incentives like tax loss harvesting to reduce the taxes of rich people who control 90+% of all stocks. They just rebuy their stock after selling and locking in tax losses for tax breaks.

Even though Iove writing off my losses to reduce my taxes for gambling on things like stock options, it is still pretty much messed up I get any tax breaks at all for it. How come we don't get rid of write offs for losses on the stock market? People should eat their own losses for risks they chose to take, not ask the country to subsidize their stock picks when they backfire.

[Anonymous]

Because unlike gambling, you are subsidizing American enterprise, research and development. Some companies don't work out. Some have good products but crumple in the stock market and the ruthless evaluations of the public at large.

There is a fundamental difference between investing in your nation's economy and handing fistfuls to a casino who does nothing for the public good.

[Anonymous]

Anonymous wrote:Because unlike gambling, you are subsidizing American enterprise, research and development. Some companies don't work out. Some have good products but crumple in the stock market and the ruthless evaluations of the public at large.

There is a fundamental difference between investing in your nation's economy and handing fistfuls to a casino who does nothing for the public good.

+1. What a weird post.

[Anonymous]

Anonymous wrote:Because unlike gambling, you are subsidizing American enterprise, research and development. Some companies don't work out. Some have good products but crumple in the stock market and the ruthless evaluations of the public at large.

There is a fundamental difference between investing in your nation's economy and handing fistfuls to a casino who does nothing for the public good.

Lololollololol

No I'm not

I'm literally buying stock options with one, two, or three day expirees to gamble on 200% returns or 0% losses. I literally hold them for two days. None of what I do helps the economy.

Yet when Iose, I just get a tax write-off, lol. It's insane. I'm just playing blackjack.

[Anonymous]

Anonymous wrote:Because unlike gambling, you are subsidizing American enterprise, research and development. Some companies don't work out. Some have good products but crumple in the stock market and the ruthless evaluations of the public at large.

There is a fundamental difference between investing in your nation's economy and handing fistfuls to a casino who does nothing for the public good.

Really?

Why doesn’t the govt jail brokers who break the law or at least make them pay back all the money they steal. They get little tiny fines.

We lose $1B a day in Wall Street criminals.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Because unlike gambling, you are subsidizing American enterprise, research and development. Some companies don't work out. Some have good products but crumple in the stock market and the ruthless evaluations of the public at large.

There is a fundamental difference between investing in your nation's economy and handing fistfuls to a casino who does nothing for the public good.

Lololollololol

No I'm not

I'm literally buying stock options with one, two, or three day expirees to gamble on 200% returns or 0% losses. I literally hold them for two days. None of what I do helps the economy.

Yet when Iose, I just get a tax write-off, lol. It's insane. I'm just playing blackjack.

Oh, you're a day trader. You represent a minuscule minority of Americans. I don't think the federal government, who bleeds money out of every agency, cares about your tax write-offs.

You're really very stupid for day trading and for not grasping financial proportionality. I've got the feeling you're the one posting insane stuff all the time on this forum.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Because unlike gambling, you are subsidizing American enterprise, research and development. Some companies don't work out. Some have good products but crumple in the stock market and the ruthless evaluations of the public at large.

There is a fundamental difference between investing in your nation's economy and handing fistfuls to a casino who does nothing for the public good.

+1. What a weird post.

Casinos create jobs.

[Anonymous]

You know you've touched a nerve of the rich.

They can't comprehend that their privilege for govt protection for their stock market picking should be taken away.

Subsidize the losses, privatize the gains. Maybe it is still we question this. There should be zero tax write offs for stock market losses. Period..

[Anonymous]

Anonymous wrote:

Anonymous wrote:Because unlike gambling, you are subsidizing American enterprise, research and development. Some companies don't work out. Some have good products but crumple in the stock market and the ruthless evaluations of the public at large.

There is a fundamental difference between investing in your nation's economy and handing fistfuls to a casino who does nothing for the public good.

Really?

Why doesn’t the govt jail brokers who break the law or at least make them pay back all the money they steal. They get little tiny fines.

We lose $1B a day in Wall Street criminals.

Is that OP creating a side-track? Are you expecting "the govt" to be perfect in every way? You're going to wait a very long time. Governments already do more than you can possibly imagine.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Because unlike gambling, you are subsidizing American enterprise, research and development. Some companies don't work out. Some have good products but crumple in the stock market and the ruthless evaluations of the public at large.

There is a fundamental difference between investing in your nation's economy and handing fistfuls to a casino who does nothing for the public good.

+1. What a weird post.

Casinos create jobs.

Nowhere near what's created by investing in publicly traded companies. Again, very poor sense of proportions. You're crazy.

[Anonymous]

Anonymous wrote:Because unlike gambling, you are subsidizing American enterprise, research and development. Some companies don't work out. Some have good products but crumple in the stock market and the ruthless evaluations of the public at large.

There is a fundamental difference between investing in your nation's economy and handing fistfuls to a casino who does nothing for the public good.

+1000

[Anonymous]

You can take mostly just take capital losses against capital gains, you can only take $3k in losses against ordinary income. In the grand scheme of things, that’s not very much.

In your blackjack example, you can also take gambling losses against gambling gains, but you don’t get to take any extra against ordinary income.

[Anonymous]

Trading creates liquidity in the securities. What OP describes to me sounds quite economically useless but for the liquidity OP and many retail and institutional traders create. Stocks lose all allure if they are not liquid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Because unlike gambling, you are subsidizing American enterprise, research and development. Some companies don't work out. Some have good products but crumple in the stock market and the ruthless evaluations of the public at large.

There is a fundamental difference between investing in your nation's economy and handing fistfuls to a casino who does nothing for the public good.

Lololollololol

No I'm not

I'm literally buying stock options with one, two, or three day expirees to gamble on 200% returns or 0% losses. I literally hold them for two days. None of what I do helps the economy.

Yet when Iose, I just get a tax write-off, lol. It's insane. I'm just playing blackjack.

you're just a moron