Every month, we take a look at a word in the headlines, in English, for your English. See more at The Word of the Month.
Loophole: a small opening in a wall for firing weapons;
Also: a means of escape or avoiding something, like a tax, law or contract.
Loopholes in the News
This month, the Panama Papers exposed prominent tax evaders using legal loopholes to conceal assets.
Loopholes help the rich get richer, like some sort of reverse Robin Hood.
Switzerland: Go for the chocolate, stay for the secret bank accounts.
Cayman islands: Snorkeling. Rum. Offshore tax havens. Every kid’s dream.
Monaco: Beautiful princess. Fast cars. Tax breaks. What more can you ask for?
International Waters: Prostitution. Gambling. Turtle wrestling. In the ocean, anything goes.
Black hole: Giant space vacuum. Possible location of your money once given to a bank.
Watering hole: A bar. Another spot where money disappears.
A$$holes: They make money in one country, then hide it in another. Aren’t we supposed to send these secessionists to the hole?