The meaning of tax law is usually considered from a purely fiscal and theoretical perspective - if we tax this activity how is it likely to affect economic behavior and tax revenue. This article takes a radically different perspective, arguing that, at least in the area of tax exemption, symbolic politics are vastly more important than fiscal theory. The controversy over the treatment of commercial sponsorships of charities has generally been portrayed as a story of political influence defeating proper tax policy. Stone's reexamination shows that it is the story of a law grounded in political symbolism.