Re: Senate Rejects Repeal of Estate Tax -- Insurance Forum

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Date Posted: Fri, June 14 2002, 20:08:47
Author: Keith Busmente
Subject: Re: Senate Rejects Repeal of Estate Tax
In reply to: Brent D. Gardner, ChFC 's message, "Senate Rejects Repeal of Estate Tax" on Wed, June 12 2002, 15:35:50

Brent,

I have mixed feelings about the estate tax. In its pure form, I can understand the meaning behind it although my morals disagree with it.

I was speaking to an economics professor at WV University who said that he believes that it only takes one generation of slugs to get rid of the wealth anyway, so perpetual wealth is virtually impossible. I also believe that irresponsible spending of money is much better for the economy than some government program.

That being said, I have no clients who are sitting the fence. Either they already know or I have pointed out the fact that there is no way in hell Uncle Sugar isn't going to get a piece of the largest transfer of wealth in the history of the world!

It was rather comical watching the Senators posturing during the debate....Democracy at its finest, don't you think?

>So...what happens now? LOL
>
>The Congress Critters are doing major damage by even
>considering a repeal - lots of people are sitting on
>the fence, not planning, and for some, it will be too
>late when they finally act.
>
>What recourse do they have? There is no law against
>stupidity, foolishness, imprudence, and
>procrastination (unless you procrastinated in filing
>your income tax return!)
>
>I'm curious how others are dealing with hesitant
>clients?

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Replies:

Re: Senate Rejects Repeal of Estate Tax -- Brent D. Gardner, ChFC, Sat, June 15 2002, 22:06:20