Posted: Jul 07, 2005 By: James Ephgrave

Subject: Capital Gains Tax

Comment: Replace the various long term capital gain rates by a simple adjustment to taxible income of half the long term capital gain.

Significantly increase the limit on allowable capital losses. It has been $1500 for married and $3000 for unmarried taxpayers for many, many years with no adjustment for inflation. Eliminate the discrimination against married taxpayers. Give each individual the same limit on allowable capital losses.