A tax loophole is a term that is part of a law voted on by Congress and the President which is used to manipulate the uninformed.   When you hear a politician use the word “loophole” you can know that they are trying to manipulate you and should look closely at whatever is said thereafter.

For example the “tax loophole” regarding “corporate jets” that was lambasted by the President on June 29, 2011 was included in President Obama’s own stimulus package from 2009.  It is called “accelerated depreciation.”

It is the height of insanity to have the Democrat controlled House, the Democrat controlled Senate (filibuster proof at the time) with a Democrat President pass the provision on “accelerated depreciation” in 2009.  And then a little over two years later in 2011 lambast the Republicans for the tax law when its renewal was a completely Democrat construction and no Republican could stop it.

Yet none of the mainstream media bothered to report this or seemingly even research it.

One could call the home mortgage deduction a “loophole” as well as anything else that the Congress and President have put into law.

A loophole is part of a tax law that a politician now wants to demagogue about.