Yet Another Tax Loophole the Rich Exploit

[Perknose]

How the Wealthy Save Billions in Taxes by Skirting a Century-Old Law

"Over and over, Ballmer sold and bought stocks in roughly equivalent amounts, as on that July day, when he swapped around $200 million worth. A month later, he did it again, landing at least $23 million in tax-reducing losses. Similar efforts that December brought $26 million more.

ProPublica estimates that from 2014 through 2018, Ballmer was able to generate tax losses totaling $579 million without changing his investment portfolio in a meaningful way. The tax savings from these losses amount to at least $138 million."

^^^ Makes me pissed that I neglected to become ultrawealthy.

 

[HomerJS]

If we tried to close that loophole who would stand in the way?

Republicans and Kirsten Sinema

 

[Moonbeam]

Why don't the Democrats set up a public poll for issues and ask Americans if they think this kind of thing is right or should be changed. Maybe when 99% of the population says definitely yes the Polls can knock off a few bucks from those kinds of loop holes. Otherwise maybe we could just create laws where any loophole that gets passed goes straight into the pocket of Republican politicians. That might get the ball rolling.