I think the debate on Capital Gains Taxes is now irrelevant.
The huge stock market losses.
Here’s a thought:
Most people do not have any Capital Gains. I think the vast majority of investors, traders and business owners won’t have to worry about paying Capital Gains taxes for quite a few years — they will have a capital loss to carry forward instead.
That’s currently capped at a tiny $3,000 per year per person.
How about raising the current limit of loss write offs to $10,000 or even $20,000 per year?