Section 1256. WTFF?

You really have to wonder what sorts of rimjobs the commodity trading lobbyists were giving the congresscritters back in 1981-82 when section 1256 got added to the tax code. This is the section that deals with gains/losses on regulated futures contracts and their associated options.

( more tax wanking ... )

Yes, Virginia, there really is a 45% marginal tax bracket

and it's not for super-rich assholes, either.

( Yet more tax wanking. )

(  a.k.a. Why AMT sux0rs. )

( And maybe also why Bush sux0rs, too. )