Off-Topic (Of course, what hasn't been, lately):
I sent an e-mail to my congressman, Robert Wexler, two or three weeks ago, suggesting that the long-standing allowance of a $3,000 write-off of capital losses against regular income in any given year is inadequate. Many people have suffered large losses this year that may take many years to either balance out from capital gains, or to write-off at $3,000 a year, and it seems unfair that tax on capital gains must be paid immediately, but a tax credit derived from a capital loss can only be received over a period of many years.
I haven't received any response, and I see that he's been too busy giving cute little soundbites on television, in defense of the whoremonger. That sure is more important than considering tax relief for thousands of Americans who have been badly hurt by investments gone awry. Of course, as he's obviously a bleeding-heart liberal, I'm sure that Wexler probably thinks that everyone who can afford to invest in the stock market is wealthy, and he wouldn't care too much for any such tax relief.
I encourage others out there who have suffered significant capital losses, especially those who have Republican congressmen, to contact them and suggest that the $3,000 limit either be increased to a larger fixed amount, or to a percentage of regular income. |
