With the Stock market collapsing as it is, Congress should pass a tax law allowing Taxpayers to deduct all capital losses immediately that were sustained as a result from the Stock Market losses for tax year 2008.

These losses should not have any $3,000 limitations or restrictions like the current tax law!

Anybody have any thought on this?

Thats a really great idea! I never thought of that! At least we can write off the losses suffered in 2008!

But, how would Congress fund the loss in revenue?