https://www.propublica.org/article/irs-files-taxes-wash-sales-goldman-sachsThis isn't a new thing, and I know it's very boring to read. The wash sale rule has been long abused. I can't blame the rich for using the existing laws to their benefit. The issue is that the law hasn't been modified to adjust for people finding ways around it.
Even if the clouds aligned and the government decided to actually try to help make something better, I'm not sure how they could adjust this rule without someone still being able to sneak around it or making it so restrictive that people aren't getting taxed on legitimate losses. Yes, I know they should just tax rich people at a higher rate, I'm not talking about that, I'm talking about fixing this particular rule. It's quite clearly having your cake and eating it too.
