It is not a loophole in any sense. A net operating loss carryforward is allowable under section 172 of the Internal Revenue Code.
Exactly, because, hey, you LOST money!
How can you be taxed on money/income you don’t have???
The whole Leftist spiel on this is insane. How stupid do they think we are?
This is nothing but an attempt to score political points. Ipso facto.