Subject: Tax Change Recommendation Comment: I respectfully request that the $3,000.00 yearly limitation on capital losses be INCREASED (form 1040, line 13). The $3,000.00 limitation has not been increased for many years and must be increased if we are to have true tax reform. I am suggesting that it be increased to at least $10,000.00 and also be considered for indexing to the inflation rate. Many losses are beyond the taxpayer/investors control, such as corporate bankruptcy, and they should be able to be written off at a faster rate than having to be carried over for years and years. Increasing the $3,000.00 limitation could make people more interested in saving and investing in corporate America and this would help the economy and there-by strengthen our country to spread democracy in the world. This, in turn, could help in the war against terrorism. Thank you. |