Why are business expenses deductible from income, but someone’s basic living expenses aren’t deductible from personal income?

Question

Why are business expenses deductible from income, but someone’s basic living expenses aren’t deductible from personal income?

In: Economics

Answer 1

Also, remember, business expenses are deductible because they are not “income,” they are reimbursements.

If I buy an item for $3.00, and I sell it for $5.00, I had $2.00 of income, and was reimbursed $3.00 for the money I spent to purchase the item. I am taxed on the actual money that I made.