Estate Tax for the Truly RichEstate Tax for the Truly Rich
At its 46th annual meeting, the Association for Advanced Life Underwriting introduced its alternative to estate-tax repeal, a plan drafted with Arizona Senator John McCain. The Better Plan for Estate-Tax Reform, as McCain has dubbed the proposal, would abolish the federal estate tax for all but the ultrarich. In a speech on May 7, McCain described the plan to hundreds of AALU members at the Marriott
June 1, 2003
Rorie M. Sherman Editor in Chief
At its 46th annual meeting, the Association for Advanced Life Underwriting introduced its alternative to estate-tax repeal, a plan drafted with Arizona Senator John McCain.
“The Better Plan for Estate-Tax Reform,” as McCain has dubbed the proposal, would abolish the federal estate tax for all but the ultrarich.
In a speech on May 7, McCain described the plan to hundreds of AALU members at the Marriott Wardman Park Hotel in Washington, D.C.. The plan would do away with estate tax on the first $2.5 million for individuals and $5 million for families. Small family-owned businesses and farms would be exempt for up to $10 million.
The result would “eliminate 99.6 percent of all the people in the country from havin...
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