President Obama wants to close Tax Loop Holes

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The President is talking of closing Tax Loop Holes but what are tax loop holes. Is being able to deduct donations to your church a loop hole? Is being able to deduct the interest on your home mortgage a loop hole? Most people would say no but these are two of the proposed loop holes the President and his aides are talking about eliminating as loop holes. What is a loop hole vs legitimate deductions? The old definition of a loop hole is a deduction that is used for something not intended by the law makers. For example the IRS used to allow the cost of a vehicle for people who need it in their business. The intent was that if a person needed a car then the cost of that car should be considered a business expense and you should be allowed to deduct from the income of the business. The loop hole come in when a person decides that their car is necessary and they buy a luxury car when a standard sedan would do serve the same purpose. President Regan closed the loop hole by changing the law to say that it makes no difference what type of car you use you get the same cost per mile. The politicians are trying to redefine words to mean what they want to push their agenda. A deduction is something allowed by law and a loop hole is a stretching of the meaning of the deduction and is not what the law intended.