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South Central Iowa | Good Lord, I hope it's not on the agenda of anyone with legislative power.
I can't think of any positive aspect to removing the ability to carryover losses. It would confine all businesses who often have multi-year, capital intensive projects to an arbitrary one year timeframe for profits and losses. It would remove the smoothing effect that carryover provides between years of abundance and deficiency. It would cripple mature companies and startups alike; far worse for startups though. There really isn't another single rule change, aside from rates, that I can think of that would have a more devastating effect on the economy. Growth would shrink, unemployment would rise, and capital spending would plummet. This isn't just a farm issue, but an all business issue. | |
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It Won't Work
