Friday, December 3, 2010
The American Family Business Foundation
has released Life Insurance Cash Cow: An Issue Brief on the Hidden Side of Estate Tax Lobbying
Estate tax advocates often portray their fight as a struggle for fairness against greedy billionaires and spoiled heiresses, but as this American Family Business Foundation Issue Brief documents, it’s the multi-billion-dollar life-insurance industry who profits handsomely from the tax at the expense of family business owners and farmers, to whom they sell estate tax-related products. It’s no surprise then that the life insurance industry, which stands to gain an estimated 10% of its revenues from estate tax policies, is leading the charge to ensure that the estate tax roars back to life.