I Wanna Be Like Donald

This is one of many, I suspect, similar pieces claiming everybody can be like King Donald of Orange: lose money this year and deduct it against income in future years. If you go and read the article, you'll find that the ability is available only to those who conduct business for income, not those who earn wages.

But, guess what? It was under Reagan that the ability of ordinary wage earners to avail themselves of something similar, called income averaging, was removed. Reagan, the man of the ordinary people. Of course.

An existing provision in the tax code, called Income Averaging, which reduced taxes for those only recently making a much higher salary than before, was eliminated (although later partially reinstated, for farmers in 1997 and for fishermen in 2004).

Not too surprising that the Right's usual suspects got their access to the provision restored.