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Insurance companies love the death tax…

Posted by taxguru on November 16, 2007

Many people wonder why supposed capitalists, such as Warren Buffett, are fighting so hard against the attempts to repeal the Estate (aka Death, Inheritance) tax. It isn’t just their obvious love of Marxism; but good old fashioned personal greed. Insurance companies, such as those owned by Mr. Buffett, make a fortune by selling policies to cover estate taxes. No more estate taxes would dry that cash cow up in a hurry.

There is some good coverage of this topic on National Review Online:

The Oracle of the Death Tax

Death tax is a lifeline for insurance industry

Thanks to David Freddoso at The Corner for this info.

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