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To: Casaubon who wrote (71402)3/6/2001 4:35:45 PM
From: Les H  Read Replies (1) | Respond to of 99985
 
why not just allow accelerated depreciation deductions for stocks? works for real estate. you get to deduct your losses before they occur and in addition to the costs of maintaining the property that can be deducted or depreciated. there are plenty of examples out there of double taxation of income and double tax deduction/exemption of expenses/income. one could easily disallow charitable contributions on the grounds that the recipients don't pay taxes on their income, on their properties, and on their purchases of goods and services. one could also disallow the mortgage interest deduction now that capital gains on primary residences are exempt from taxes. and so it goes.



To: Casaubon who wrote (71402)3/6/2001 4:37:30 PM
From: Dennis O'Bell  Read Replies (1) | Respond to of 99985
 
Isn't the tax situation w/r gains and losses more favorable for hedge funds and full time professional investors and the like than it is for the individual investor?

And when LTCM gets bailed out, that's not every taxpayer's problem?

They tax the individual this way because they can. Tax collecting is like plucking a goose - the goal is to extract the maximum number of feathers with the minimum of squawking.



To: Casaubon who wrote (71402)3/6/2001 4:52:51 PM
From: bumboo  Respond to of 99985
 
OT: <<because it is your risk, not every tax payer in
the USA>>

Replace the word "risk" in the above sentence with "gain".



To: Casaubon who wrote (71402)3/6/2001 4:57:32 PM
From: Haim R. Branisteanu  Respond to of 99985
 
Casubon, your view is a bit one sided. <GG> and get out from under your blanket

The rule was established with the lobby of WS to make the small guy the one holding the bag and not to sell.

In any business a Sub chapter S corporation losses can go against the tax payer income.

The exclusion of financial assets should be taxed under the same rules without the need any exception the same way they tax financial gains. PERIOD.

Haim


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