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> Take a corporate tax loophole Tax policy you disagree with isn't a loophole.

by parineum 5y ago

glitchc 5y ago
Tax policy that benefits the select few instead of the country is a loophole.
- parineum 5y ago
  Not if it was designed to do that. A loophole is using a thing (a loophole) for something it is not supposed to be used for but is advantageous (entry).
  - ZeroGravitas 5y ago
    This is like saying a 'backdoor' isn't a backdoor because the hacker who put it there intended it to be used for nefarious purposes.
    - parineum 5y ago
      Backdoors are, by definition, intentionally put in place surreptitiously. In fact, you could better call this exact tax policy being discussed as a backdoor for rich people in the tax code.
kevin_thibedeau 5y ago
Forward carried interest is a loophole created for the express purpose of letting the wealthy occupy a lower tax bracket. It has no other public benefit.
- parineum 5y ago
  > loophole created for the express purpose This is an oxymoron.
  - kelnos 5y ago
    While perhaps technically true, I think you are taking a word's general strict meaning, and are attempting to apply it to something where the meaning is often stretched a bit liberally. While yes, it is true that a "loophole" is something that is unintended but allows some subset of people to benefit, when it comes to "tax loophole", that has colloquially come to mean "any means by which a special interest group gets to avoid taxes". "Tax loopholes" can be intentionally added to the tax code, even if "loophole" implies something unintentional. Remember that English is a living language, and meanings change to suit how people use words, not how the dictionary may have once defined them.
    - parineum 5y ago
      > when it comes to "tax loophole", that has colloquially come to mean "any means by which a special interest group gets to avoid taxes". "Tax loopholes" can be intentionally added to the tax code, even if "loophole" implies something unintentional. You're wrong. You just have been using the term wrong and listening to people who do as well. Loopholes are unintentional. The things you are referring to are intentionally placed in the tax code for people to take advantage of. Do you consider the solar credit a tax loophole for people with solar? >Remember that English is a living language, and meanings change to suit how people use words, not how the dictionary may have once defined them. Great but this doesn't apply to "loophole". You're just wrong and doubling down. >tax loophole >A provision in the laws governing taxation that allows people to reduce their taxes. The term has the connotation of an unintentional omission or obscurity in the law that allows the reduction of tax liability to a point below that intended by the framers of the law.
Retric 5y ago
I mean loophole as in an unintended side effect of tax law. The classic double Irish with a Dutch sandwich was emergent behavior based on how US, EU, Irish, and Dutch tax codes all intertwined.

> Take a corporate tax loophole Tax policy you disagree with isn't a loophole.

glitchc 5y ago

Tax policy that benefits the select few instead of the country is a loophole.

parineum 5y ago
Not if it was designed to do that. A loophole is using a thing (a loophole) for something it is not supposed to be used for but is advantageous (entry).
- ZeroGravitas 5y ago
  This is like saying a 'backdoor' isn't a backdoor because the hacker who put it there intended it to be used for nefarious purposes.
  - parineum 5y ago
    Backdoors are, by definition, intentionally put in place surreptitiously. In fact, you could better call this exact tax policy being discussed as a backdoor for rich people in the tax code.

kevin_thibedeau 5y ago

Forward carried interest is a loophole created for the express purpose of letting the wealthy occupy a lower tax bracket. It has no other public benefit.

parineum 5y ago
> loophole created for the express purpose This is an oxymoron.
- kelnos 5y ago
  While perhaps technically true, I think you are taking a word's general strict meaning, and are attempting to apply it to something where the meaning is often stretched a bit liberally. While yes, it is true that a "loophole" is something that is unintended but allows some subset of people to benefit, when it comes to "tax loophole", that has colloquially come to mean "any means by which a special interest group gets to avoid taxes". "Tax loopholes" can be intentionally added to the tax code, even if "loophole" implies something unintentional. Remember that English is a living language, and meanings change to suit how people use words, not how the dictionary may have once defined them.
  - parineum 5y ago
    > when it comes to "tax loophole", that has colloquially come to mean "any means by which a special interest group gets to avoid taxes". "Tax loopholes" can be intentionally added to the tax code, even if "loophole" implies something unintentional. You're wrong. You just have been using the term wrong and listening to people who do as well. Loopholes are unintentional. The things you are referring to are intentionally placed in the tax code for people to take advantage of. Do you consider the solar credit a tax loophole for people with solar? >Remember that English is a living language, and meanings change to suit how people use words, not how the dictionary may have once defined them. Great but this doesn't apply to "loophole". You're just wrong and doubling down. >tax loophole >A provision in the laws governing taxation that allows people to reduce their taxes. The term has the connotation of an unintentional omission or obscurity in the law that allows the reduction of tax liability to a point below that intended by the framers of the law.

Retric 5y ago

I mean loophole as in an unintended side effect of tax law. The classic double Irish with a Dutch sandwich was emergent behavior based on how US, EU, Irish, and Dutch tax codes all intertwined.