Top Ten Tax Loopholes

Or, we could go back to the original meaning of the word "loophole".

Most dictionaries make mention of the slit-like openings in castle walls that were used by archers (later, musketeers) to defend the castle. Our derivation of "loophole" as a way past a law is derived from this. The only openings in a seemingly impenetrable wall were these slits, which a child or small adult child could squeeze through. Thus, a loophole is a small opening, or "out," in a seemingly airtight law, which only the clever few can use.

http://www.straightdope.com/columns/read/2071/whats-the-origin-of-loophole

 

Another on point definition of loophole:

"A provision in the laws governing taxation that allows people to reduce their taxes. "

Incoming search terms:

http://dictionary.reference.com/browse/tax+loophole

How do you know you've met a good tax accountant?
He has a loophole named after him.

How many Bush supporters does it take to change a light bulb? Six, one to turn the bulb and five to create a related tax loophole for the rich.


S

 

Is being a sitting Secretary of the treasury or congressman considered a "tax loophole"?

 

prejudice yes, racist no

 

Aren't you familiar with the Geitner Loophole, or the Daschle Loophole and the Rangle Loophole? :eek:

 

Don't know about them loopholes but those are some loopy dudes

 

Damn those high status government officials with personal loopholes.

 

Plus, they are exempt from insider trading rules. No wonder so many of them are multi-millionaires.

 

This is the competition gentlemen.