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:
“Rumble thy bellyful! Spit, fire! Spout, rain!
Nor rain, wind, thunder, fire are my daughters.
I tax you not, you elements, with unkindness;
I never gave you kingdom, called you children.”
—William Shakespeare (1564–1616)
“I’ll bet your father spent the first year of your life throwing rocks at the stork.”
—Irving Brecher, U.S. screenwriter, and Edward Buzzell. J. Cheever Loophole (Groucho Marx)