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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: Bucky Katt who wrote (11341)	7/25/2002 2:01:09 PM
From: James Strauss	Read Replies (1) of 13094

The biggest of the changes House Republicans are considering would expand existing tax write-offs for individuals' investment losses. Currently, taxpayers can deduct their capital losses to the extent of their capital gains, and also can deduct as much as $3,000 more of capital losses, analysts said. Republicans are examining plans to double or even triple the $3,000 cap, and allow investors to use more of their losses in other tax years, according to a senior GOP aide. William: Those in the upper tax brackets will love this but those in the lower tax brackets will not be able to use $6000 or $9000 dollar tax deductions against on their returns... Unless the taxpayer has the option of selecting an amount to deduct ($3000, 4000, 5000, etc.), they'll wind up losing their investment carryforward losses in a few years without getting the full tax benefit... It looks like the Republicans will be in trouble this November... There remains too much of a perception of close ties to big business and all its shenanigans and programs benefiting the top 2% of Americans... Jim

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