A Quote by Malcolm Forbes
A Tax Loophole: A deduction that the other guy gets.
Related Quotes
There are some tax expenditures that are there for very obvious and very important and very good policy reasons. Whether it's the charitable deduction or the deduction for homes, it's not a loophole.
The precise point at which a tax deduction becomes a 'loophole' or a tax incentive becomes a 'subsidy for special interests' is one of the great mysteries of politics.
A [tax loophole is] something that benefits the other guy. If it benefits you, it is tax reform.
A tax loophole is something that benefits the other guy. If it benefits you, it is tax reform.
I would favor three policies: raising the minimum wage to $12, closing the tax loophole where persons only pay a 15% income tax on long term capital gains (tax it at the full tax rate), and institute a progressive tax moving the highest tax rate from 39.6% to 45%. I would favor implementing these three policies in that order, starting with raising the minimum wage, but not stopping there.
What is a loophole? If the law does not punish a definite action or does not tax a definite thing, this is not a loophole. It is simply the law.
I look at the idea of eliminating the state and local tax deduction as a geographic redistribution of wealth, because you're taking money from a place like New York to provide deeper tax cuts elsewhere.
Unlike every other retirement vehicle, such as IRAs and 401(k)s, you receive a tax deduction for making contributions to your HSA but don't have to pay income taxes on withdrawals.
We simply cannot continue to live with a [tax] system which has so many inequities. It must be changed in such a way that each of us pays a fair share of the burden. It has been said that one man's loophole is another man's livelihood. Even if this is true, it certainly is not fair, because the loophole-livelihood of those who are reaping undeserved benefits can be the economic noose of those who are paying more than they should.
As long as you're a tax deduction, you'll always be safe in my house.
There is one—how would you put it—loophole.” “Loophole? More like a giant cavern if I have wings.
I want to close the online loophole and the gun show loophole.
If your biggest tax deduction was bail money, you might be a redneck.
I have pledged to work hard to get the state and local tax deduction cap lifted.
When I talked about Boeing and I talked about General Electric, what I was referring to is an outrage... Right now you have a loophole such that these guys are putting their profits, multi-billion dollar profitable corporations putting billions of dollars into the Cayman Islands, Bermuda, and other tax havens.
A guy needs somebody?to be near him. A guy goes nuts if he ain't got nobody. Don't make no difference who the guy is, long's he's with you. I tell ya, I tell ya a guy gets too lonely an' he gets sick.
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