The biggest loophole makes no sense at all: The automatic basis step-up in your assets when you die. Say you bought Amazon stock back when the price was $1 per share. You bought 1000 shares. If you sell it to pay for your nursing home expenses, you pay 20% of the profit you made. If you manage to hold it until you expire, if your estate is worth less than 11 million, nobody ever pays any tax on that profit. It's not income to your heirs. Nada. Zilch.
When your heirs sell it, their basis is not $1 per share. It's whatever the prices was when you died! That's the "step-up". It lets your heirs inherit your estate's full value, with nobody ever paying tax on your acquired wealth.

We're flying electric helicopters on Mars yet you can't turn on your clothes dryer in Texas. That's because scientists are in charge of Mars, and Republicans are in charge of Texas.