"A tax loophole is something that benefits the other guy. If it benefits you, it is tax reform"

This quote by Russell B. Long is a humorous method of highlighting the difference in between a tax loophole and tax reform. A tax loophole is a legal way of avoiding paying taxes, normally by making the most of a loophole in the tax code. It is something that benefits the specific or company taking advantage of it, however not always the public. Tax reform, on the other hand, is a modification to the tax code that is created to benefit everyone. It is a method of making the tax system fairer and more equitable. By highlighting the distinction in between a tax loophole and tax reform, Long is highlighting the significance of tax reform in order to guarantee that everybody pays their reasonable share of taxes.