Quote of the Day
You're born. You suffer. You die. Fortunately, there's a loophole.
The wish to hurt, the momentary intoxication with pain, is the loophole through which the pervert climbs into the minds of ordinary men.
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.
It's interesting that there are only two groups of people in our country who are not held accountable for their behavior or decisions. One is exempted by the constitution, and that is foreign diplomats. The other, through a loophole, is HMOs.
One would expect that private property taken by eminent domain would become land available for public use such as parks and roads. Unfortunately, this decision creates a loophole for government to manipulate the definition of public use simply to generate greater tax revenue.
Unfortunately, money in politics is an insidious thing - and a loophole in our campaign finance system was taken advantage of with money going to existing or new 527 groups with the sole purpose of influencing the election.
If a lobbyist sets up shop, or a lawyer, in which they're receiving income through what is something like a tax loophole so that it's not counting as corporate income, that is what this is counting as a small business.
As a beneficiary of the carried interest loophole, I've seen firsthand the lack of any difference between the work involved in generating a carried interest and the work done by millions of other professionals who are taxed at the full 35 percent rate.
As you may know, previously as Attorney General and now as Governor, I have supported legislation to close the gun show loophole in North Carolina.
Michael F. Easley
A tax loophole is something that benefits the other guy. If it benefits you, it is tax reform.
Russell B. Long
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