Capital Gains Taxes ?
I think the debate on Capital Gains Taxes is now irrelevant.
Why?
The huge stock market losses.
Here's a thought:
Most people do not have any Capital Gains. I think the vast majority of investors, traders and business owners won't have to worry about paying Capital Gains taxes for quite a few years -- they will have a capital loss to carry forward instead.
That's currently capped at a tiny $3,000 per year per person.
How about raising the current limit of loss write offs to $10,000 or even $20,000 per year?
Sunday, October 19, 2008 | 06:00 PM | Permalink
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I have been wondering this for several years. This is a perfect time for this. No tax cuts necessary. A $20000 loss would do just fine. I'll vote for whoever comes up with this idea.
Elliot Klang Queens NY
Posted by: Elliot Klang | Oct 19, 2008 6:20:48 PM
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