I know plenty of middle-class people using this technique as well, it's commonly called "tax loss harvesting".
Close the "loophole" (not a loophole, it's just following the law as written) and it'll impact way more than just the wealthy.
Close the "loophole" (not a loophole, it's just following the law as written) and it'll impact way more than just the wealthy.
You swap one security for another, almost identical one and take the capital loss.