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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 226.07

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2:50 PM EST

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To: Robert Rose who wrote (103144)	5/10/2000 4:04:00 AM
From: Sam Citron	Read Replies (2) of 164684

Robert, Gary is correct. I am puzzled by your statement that there is no loss carryforward for individuals. However you are correct that under the scenario you outlined there would indeed be a $500K loss over that 2 year period. However, you would be able to carry forward (but not backward) the $1M loss suffered in 2000 into 2001 and beyond, assuming you couldn't use it in 2000. If this still leaves you distressed, the onus is upon you to design a tax code that is more favorable to capital investment and that is both equitable and efficient. BTW, I think that in setting prohibitively high rates for ST capital gains, the IRS damages liquidity. It pains me to draw the analogy of the stock market to a casino, but who wants to be stuck in a casino for an entire year? Markets are most efficient if investors can opportunistically move in and move out of investments with no artificial time constraints, but in response to pure market forces. If you tamper too much with this, the invisible hand of the market may become palsied.

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