Why is it that the (US) government can tax 100% of capital gains but you can only claim $3000 in losses annually?
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Trickle down economics. We got told that if big corporations got tax breaks and we taxed the majority of the working class instead, we would feel the benefits of their economic growth as it trickled down to us. We were told that if we didn’t strike, we would be rewarded because the company wouldn’t lose money. We built the tax system to help keep the rich even richer and the poor even poorer.
It’s treated like gambling. If your losses equal your gains, you can deduct any losses to the point of your gains. If you keep losing, you may have a problem.
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