Re: The Loss deduction would go away along with the Gain Tax
The problem is that the situation's not as you describe. Republicans want to eliminate the capital gains tax, or at least reduce it; while simultaneously increasing the loss deduction. In other words, they want no tax "on the way up", but want to get compensated "on the way down" for any losses. Classic example of wanting to have your cake and eat it too.
So much for the myth of the courageous capitalist risk-taker.
--Robert