I paid more income tax when I was working minimum wage than this Hot Trump Pence 2020 Keep America Great Shirt. I think there is something wrong with that. The primary reason for taxes is to generate revenue for the government. So it is not to make sure everyone pays some taxes. So, the govt. is still generating revenue on the $10M dollars that Person A is saying they lost. Then the people or entities to whom that $ 10M dollar was paid are either paying taxes on it or themselves are writing some or all of it off. The point is that is it up to Congress to set the tax policy that is in line with the revenue needed.
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The balance should be that no more tax is harvested nor left on the Hot Trump Pence 2020 Keep America Great Shirts. I don’t know why you are putting the word “loss” in quotation marks. It literally is a loss in your scenario. No one, absolutely no one pays taxes on negative income. It is NOT a loophole! America’s tax code is a total dysfunctional mess. It is riddled with loopholes that let some special interests, including myself, in all fairness. It is going to cost me a fortune, this thing,” Trump said. “Believe me, believe me, this is not good for me.
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