Posted on 09/08/2001 9:20:13 PM PDT by Utah Girl
Edited on 09/03/2002 4:49:18 AM PDT by Jim Robinson. [history]
The Bush administration is edging toward supporting a cut in the capital gains tax as a way to stimulate the flagging economy that Republicans fear could lead to big Democratic gains in House elections next year, administration officials said yesterday. The officials said the administration is debating whether to support the new tax cut as a preemptive strike against further deterioration of the economy or wait until mid-October to see whether economic indicators are still dropping. Continued economic weakness would make a rate reduction less vulnerable to likely Democratic attacks, they believe. President Bush has been noncommittal about a capital ...
(Excerpt) Read more at washingtonpost.com ...
if gains were no longer taxed, the loss deductibility issue would be moot, however, as long as net gains are currently taxed, there should be no limit on current deductibility of net losses
there never should have been any limit on loss deductibility, it's a disincentive to investment, albeit one that many people don't find out about until after the fact
the ability to carry losses forward is small consolation
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