Economics is fun: Follow the money
Follow the money.... why repeal the estate tax, really?
Raise the price of a substitute (savings), and you shift out the demand curve for life insurance.
See, it's easy, and FUN!
(Nod to Angry Alex)
posted by Mungowitz @ 12/02/2010 11:11:00 AM
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Also, life insurance proceeds are non-taxable for the recipients.
I sincerely doubt that the tax actually brings in more government revenue than it costs in compliance costs and economic inefficiency. It definitely costs the economy a lot.
It's a tax on dying unexpectedly, on poor financial planning, and on holding non-liquid assets.
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