Madoff Victims Makeoff
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- scottON
With huge deductions.
The Internal Revenue Service will allow victims of Bernard L. Madoff’s investment fraud to claim a lucrative tax deduction related to the bulk of their losses, the I.R.S. commissioner testified Tuesday morning before the Senate Finance Committee
Investors who are suing Mr. Madoff, and who thus may have some prospect of recovery, can claim a deduction equal to 75 percent of their investments.
In a free market investors would pack up their bags and depart to low class with those losses.
- boobs0
People who lose money in investments have been able to take deductions on those losses for years and years now. Ever hear the term "write off?" Write offs are basically deductions from profit, which reduce the taxes on the profit. Sometimes to zero--or lower!
Plus victims of crime have been able to deduct certain types of losses for quite some time.
So, there doesn't seem to be anything new here. In the free market called the United States, investors have taken deductions on losses since the income tax was invented.
So go soak your fucking head.
- scottON0
Soak my head because some twit on the net thinks I've never heard of it?
come on boobs.
If anything you should be glad if corruption is broadcasted, even if it doesn't include the Boobs bibliography...
Don't take out your aggression on me man.
- kodap0
if I had about 1% of that I'd be happy enough for the rest of my life... Unfair world, aint'it?