Good so far, but not very many votes are in.

All the opposition to this proposal can muster is the usual whine
"With 80% of the direct benefits from a capital gains cut going to the wealthiest 2% of the population..." ad nauseum.
Who PAID the most taxes and fees? Not to mention they employ millions of Americans in commerce and industry.

Oh, yeah. The naysayers inadvertently left in their Freudian slip. "Directly benefit". That does imply that the not-so-rich stand to benefit from the extra money in the wealthiest pockets.
Of course! Jobs, technological innovations, more competition (thus better salaries, lower prices, etc.), even more money and goods for charities.

The lesson that the "con" argument ends up teaching as a result:
Give money to the rich and everyone benefits. We already know that money in the hands of the poor evaporates.

Here's the LINK

With the stock market down so badly in the last year or so, far fewer investors have unrealized long-term capital gains. I think that repealing the $3,000 per year limitation on deductibility of net capital losses is badly needed. Yet, this provision of the tax law (Sec. 1211) receives little attention in the media.

Good idea. Let's put on the pressure! Write your representative!

The problem with repealing or enlarging the $3,000 is that it would encourage (in the short term at least) people to sell off stocks that are down for the tax benefit. It could have an effect similar to massive short selling of certain stocks. In other words, stocks that are down could be pushed further down as people decide to save on taxes now instead of waiting for either gains elsewhere to offset or for the down stocks to recover. In the current market, you don't want to encourage selling.

Perhaps, over time the $3,000 amount could be increased (or at least indexed to inflation) so there's no sudden push to sell.

True, people with losses would be motivated to sell. However, for every seller there is a buyer. Any tax loss selling should be a short-term phenomenon. In addtion, the tax savings would free up additional capital for investment. Also, most capital gains are the result of trading in the secondary market. When someone buys stock from someone else, business receives no new capital. To stimulate the economy, we need new capital investment from the formation of new companies. Repealing the $3,000 annual limit on deductibility of net captial losses should help to stimulate capital formation.