Might as well, since everyone is reporting losses this year anyway. What difference does it make? I'll tell you, it was pretty sad seeing Mitch Daniels out there trying to explain how "no one saw any of this coming." The Dems have a real issue with the budget now, and the President has only himself to blame. Is he going to argue that the Farm Bill was part of the war on terror?
This is one of the things Bush has done that I just can't get past (there are a few others). I wonder how many people realize that this horrid piece of trash will cost each taxpayer roughly $2,000. I'm not lying, do the math.
I think most people would rather see an increase in the absurd $3,000 limit on capital losses which can be taken against income. I know dozens of people carrying forward over $100,000 in losses from 2001, yet still must pay taxes if they make money on anything else but the market.