As A "tax Loophole"
As of 2013, expansion and exploitation by major corporations of like-kind exchanges, originally intended to relieve family farmers of capital gains tax when swapping land or livestock, to avoid taxes was cited by The New York Times as an example of the need for tax reform.
Read more about this topic: Like-kind Exchange
Famous quotes containing the words tax and/or loophole:
“Parents are used to being made to feel guilty about...their contribution to the population problem, the school tax burden, and declining test scores. They expect to be blamed by teachers and psychologists, if not by police. And they will be blamed by the children themselves. It is hardy a wonder, then, that they withdraw into what used to be called “permissiveness” but is really neglect.”
—C. John Sommerville (20th century)
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—Irving Brecher, U.S. screenwriter, and Edward Buzzell. J. Cheever Loophole (Groucho Marx)