Mar 19 2009
Where is my tax break?
While I was reading some of the news online today I just happened to come across this article:
I.R.S. Plans a Deduction for Madoff Victims
Why is it that those rich people who got screwed over by a scam artist get a tax deduction and I don’t? Those people took a risk gambling in the stock market and were guaranteed high interest returns on hundreds of thousands of dollars, and in some cases, millions of dollars. They gambled their money for crying out loud.
My husband and I have lost almost 50% of our 401k because of the crooks on Wallstreet and in the government. We didn’t gamble or risk our money. We put our money in his employer sponsored savings plan. We don’t or didn’t have 100’s of thousands of dollars in there..but we were certainly trying to work towards that. So, why is it they get a tax break for being stupid and not doing their due diligence - but - we the normal every day Americans who lost money due to no fault of our own don’t get the same tax break?
I really think that President Obama should rethink this position - assuming he even knows about it. Isn’t Tim Geithner in control of the I.R.S.? Is it possible many of these people are his friends and he’s trying to smooth them over like he did with those guys at AIG?
I guess another question I have is why didn’t I hear about this on the evening news last night? Why is it that I have to just happen across it to learn about this?
I urge everyone to call their senators and congresspeople and urge them to not allow this tax break to the rich unless they plan on giving it to us as well for the losses we incurred in our retirement accounts.
