Who the hell passed a law saying someone who loses close to a billion dollars in a business year doesn't need to pay ANY taxes for 18 years?

Other answer:

Slug:
It a shame you don't understand business or taxes. It is NOT in the tax law that any one does not have to pay taxes for 18 years. So when you go on an immature rant and make uneducated statements.

Any one can carry over tax loses until they have all been taken (no where does it say 18 years)

By the way, it was democrats that write-offs put into the code, ALSO, few years age, the Clintons took a large write off

Mint:
It's not a law, it's part of the tax code. If you put your money at risk and realize a capital loss, that loss can be use to offset future capital gains tax. It's called carry forward capital loss. If that provision was not there, all investments would dry up during a downturn and no one would want to invest. This only applies to taxable accounts. Tax deferred accounts such as IRA's don't impose capital gain or loss since you pay tax only on withdraws in retirement. Let's suppose you own 10 stocks and one of them goes bully up. You book the capital loss and can use it to offset future capital gains from your other 9 stocks. This gives the investor an incentive to continue to invest and support the concept of free enterprise. In Trump's case, he had so much capital loss that he don't have to pay any capital gains tax for several years. Small investors use the same tax provision as well and it's not just limited to Trump or the Clinton's. Google "carry-forward capital loss" to expand your knowledge base.
The Warlock:
The laws that helped cause the financial recession were created by Democrats. I don't know what law / regulation in the tax code allows this, but keep in mind it could very well be CUMULATIVE due to the amount of the loss…

The Warlock

kswck2:
The US Federal Government. It is called a Carry Forward Loss and Is perfectly legal.
wg0z:
Congress, of course.
Determining the bill's sponsor might be of interest.
Bob:
all of the previous President's had a hand in it, Clinton, Bush, Bush 2, Carter, and Reagan to name a few.
Judy:
Congress. A business loss can be used to offset a business gain.
Kchess07:
Hillary Clinton lost $6 billion of your tax dollars, just in her stint as SOS.
Judith:
This is an example of tax loopholes written into law for the rich. Blame it on our elected officials in Congress – who are mostly rich themselves.
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