The Most Absurd 'Loophole' in the Tax Code
And I mean absurd in the most literal sense. We all know that the
U.S. tax code is riddled with "loopholes", exemptions and deductions
intended to incentivize certain activities. Many of these are of dubious
provenance and questionable utility. But, there is one that is
particularly ridiculous. As in, how can this possibly be thought of as a
loophole? But, to the technocrats in the federal government, the tax
you don't have to pay on the value of rent you don't have to pay because
you own your home is a loophole.
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