10 notorious tax loopholes

Check out some of the biggest loopholes in the US Tax Code history, including exotic island divorces and corporate jets.

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209Comments
Jan 16, 2013 6:08PM
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I once believed we lived in the greatest country of all,but now, not so much. Our leaders have spent our tax money so foolishly that we can no longer support our own families. They give so much to those that choose not to work and charge more in taxes to those that do to pay for it. We give so much money and supplies to other countries,but yet we can't take care of our own. We make laws and paperwork to adopt U.S. children so strict and complicated that we get them from other countries,again our leaders choose not to care for our own. They vote themselves large pay increases,again it's our taxes. We fight everybody's wars,lose family lives,then pay to rebuild their countries so they can live a better life. What about us the american family,what country will save us from our government ? Not one because our taxes have made our leaders and military so powerful that they could not compete. We need real Leaders,not the list of them that our Leaders chose for us to vote on. always remember,you have a right to vote,but they supply the list of candidates that you can vote for. Our Govt. is one big loophole,whatever they want , there will be a law voted in to get it. God bless all the good people that do exist in the U.S. of A.

 

 

Jan 15, 2013 11:48PM
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nice to let us know the loopholes that they already closed what a crap article !!!!
Jan 15, 2013 11:33PM
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I am sick and tired of this country, our government is getting rich off of us and we are getting poorer! IfObama is suppose to cut the budget, then why is he signing the bill to have secret service protect former presidents and wives!? wtf we pay for that, they got the money let them pay for there own crap! you watch how much we spend in the next 4 years every year they are going to take take take from us while the folks sit home and say give me, give me, give me!
Jan 16, 2013 4:37PM
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Flat tax--fair and equitable and get the politicians and special interest groups off the gravy train and let them live like the rest of the shrinking middle class Americans are which is on the edge....
Jan 15, 2013 9:10PM
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Regarding the carried interest loophole, don't forget that these managers also are not paying social security and medicare taxes on that income - so their tax benefit is even bigger than stated in the article.
Jan 16, 2013 12:17AM
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Tax laws have been skewed for quite a while as paid off elected politicians have favored, as pay back, those who helped them buy their elections.  The fact that those with wealth have increased their net worths while the middle class has declined and many joining the ranks of the lower class is evidence that the wealth class continues to hold the reins of  their elected officials and policy creation.
Jan 16, 2013 9:38PM
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Most Congressional politicians are millionaires - they make the tax laws for themselves and it might help the middle class some of the time by mistake. A Flat tax would address most tax issues but then the politicians would also have to pay - Fat chance of that ever happening
Jan 16, 2013 3:22PM
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Flat Tax! Get rid of the loop holes for ALL and EVERYONE pays a flat tax rate. Problem solved. Oh but we live in a country where people feel it is ok to take other people $$ for sh%^t they did not earn. Real Fair and this will be the end of this country...the have nots taking away from the haves until there is no more to take.
Jan 16, 2013 5:29PM
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Yeah the whole happily divorced is going to pick up steam with the ever increasing marriage penalty. I think the cliff ended up on $400k single and $450k married. Maybe that is off but I know Obama wanted $200k single and $250k married. How in the world is that even close to fair and honestly it should be illegal because you are discriminating based on marital status. My wife and I don't make anywhere near that amount but if we did, we would get divorced in a second. I could careless if we are married in the eyes of the government. All I care about is her, me, and God. I'm not going to pay higher taxes just so the government can be in on it too.
Jan 19, 2013 7:56AM
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I seem to remember a presidential candidate who wanted to close these loopholes as part of financial reform.  Unfortunately, his opponent won by strongly discrediting this idea.   Now who do you think might be beholden to all the rich trust funders and fund managers?   Not too surprising that Obama cleaned up with the Upper Westsiders.    These people don't pay earned income taxes, they rely on politicians and the politicians rely on them.    Why else would Warren Buffet push for higher rates?   Because he won't pay them.   That's why he pays a lower rate than his secretary.   We've been bamboozeled again.
Jan 16, 2013 2:46PM
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Carried Interest represent wages, and should be taxed as such!
Surprised more people don't accept $1/year and get a high "carried Interest", like the rich who do not really do that much for the companies.
Paying "bosses" high amounts to miss manage companies that go belly up at expense of stockholders with under paid employees - because they control how much they are paid!
Any "bonus" we ever receive are taxed as wages!


Jan 19, 2013 6:31AM
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I would like to believe that those responsible for the loophole have been fired from the federal government.  For a mistake I would hope their pensions were also forfeited.  All congressmen that voted for the legislation should be financially punished.  Perhaps a reduction of a minimum of 50% of their pay.
Jan 16, 2013 12:12PM
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America is a nation of deadbeats. Wealthy deadbeats.
Jan 16, 2013 5:16PM
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Write your legislators to end the 'carried interest' loophole. If you have any money invested, most likely you are exacted a management fee on that investment. If its a fee you pay for, it is a fee the investment manager should have to claim as income.
Jan 19, 2013 9:22AM
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Think the Obamas use of the "Corporate Jet" is considered income for them?
Jan 19, 2013 8:56AM
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A GOOD LOOPHOLE!?!?!?!? How about a friggin receipt disclosing the Transparency we were promised as an American Public? When you enter a courtroom the Burden of Proof lies with the Regional authority (local, state.. FEDERAL) so now it isn't SHOW ME THE MONEY as much as SHOW ME WHERE THE MONEY GOES! Loophole, *heh!* for taxes that are levied with no statute apparent in our Tax Code that are Unconstitutional 70 years after they were proposed & then simply 'dropped in our laps!'!

Stop paying taxes and voting... A dragon tends to lose its internal fire if you stop feeding it coal.You will actually get to MEET the Gov't official personally in charge of screwing you and your families into the floor, face to face. You will also get to ask them for justification of the monies they seek, the food they 'have to have' off of your table, and the root of their authority to demand it all in "lump sum payments, or else." (Usually a flammable document signed by ANOTHER bureaucrat with a sense of entitlement to rule your world!) 

As the world continues to spiral downward into corruption, perfidy and moral ineptitude one can pray they lose breath before it truly hits bottom... or China gets hungrier for our soil & souls then our own citizens who call themselves "Government Officials acting as the voice, mind, and Authority over the Amended Rights of all American Citizens" who happen to put their pants on the same way as you and me... one leg at a time.
Jan 16, 2013 4:20PM
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Want to be "king" or "dictator" looks like the "SS" is here form WW2. ???

in the USA NOW !!

Jan 19, 2013 7:35AM
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I suppose fixing these notorious loopholes is out of the question?
Jan 19, 2013 6:43AM
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Large SUV writeoffs huh? No wonder why all these little pissant mom and pop places around here are rolling in brand new Denali's, Escalades, and Range Rovers. I knew it could only be a writeoff for something like that. Stick some company or business logos on the side and your good to go.
Jan 15, 2013 8:44PM
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We constantly hear the far right lie about 47% not paying taxes and yet never mention the countless corporations that don`t pay taxes.What can the regular guy deduct?How about

his lunch box?

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