Fair enough, I would have thought most would still have looked to use accounting methods to lower the tax burden? I was aware that many US cars (and other assets) were registered (or stored) in Montana (?) amongst others because the tax rates were sufficiently lower than California and the asset could still be used in California for a majority of the year so long as it wasn't all 365 days and returned to storage for part of the year. I thought the same phenomena happened in Europe with so many pan European owned cars that were stored in Switzerland and elsewhere and financed through shell companies in some tax haven, again for tax purposes? All totally off topic but I could be way off the mark though and I agree with the premise that a billionaire wouldn't have to worry about paying the bill but does that mean they just write the cheques?
Most of the changes to 1031 Like Kind Exchanges took place in tax year 2018 during the Trump administration.