The Pleasures And Perils of Tax Loopholes | Jim Powell | Cato Institute: Commentary

The Pleasures And Perils of Tax Loopholes | Jim Powell | Cato Institute: Commentary: 'There’s an important lesson here: the hand that giveth a loophole can taketh away. Apparently the Catholic Church was seduced into supporting the odious Obamacare law including the mandate for compulsory health insurance coverage. Church officials didn’t seem to care how others would be affected by the mandate, because they counted on their political clout to secure a loophole. But politicians maintain their power by juggling many, often conflicting interest groups, and from time to time this involves betraying a major supporter. President Obama betrayed his labor union allies when he nixed the Keystone XL pipeline that would have created thousands of jobs, because he was under intense pressure from his environmentalist allies who don’t seem to care about jobs. Now, evidently, it’s the Catholic Church’s turn to be betrayed.'