However, the insurance industry could be looking at a decrease in revenues in the estate planning arena if the estate tax is repealed. “The Senate was originally going to vote on outright repeal this month” according to an article in national underwriter. This vote has been pushed back to June when an “outright repeal is unlikely” but some are hoping for a “compromise proposal.”
Depending on how you look at the topic of estate tax keeping it going could be a positive thing or not. Do you think the ultra wealthy should have to pay a tax for having so much money and is that right to punish them for “succeeding” financially? The richest person in the world Bill Gates along with Warren Buffet and David Rockefeller Sr. are in favor of keeping the estate tax intact.
What is your take on this issue?
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