If this year ends with a loss in the stock market, that is yet another tax break for the rich! Yes, they can use stock market losses to lower the amount of taxes they have to pay...at the same time, your 401K takes a huge hit. Your retirement will wither to nothing, because you are NOT ALLOWED to withdraw from the funds until you separate from employment. You do not get to get a break from this, and you are helpless as you watch your money disappear.