Life Insurance Tax Advantages Repealed if Trump Wins

Just saw his tax plan that he came out with today (revenue neutral) which says:

Life insurance tax shelter repealed: Life insurance will no longer be tax-advantaged for high-income taxpayers

So now this clown is going after Life Insurance...As far as tax plans go, I am a fan of Rand Paul's, highering the retirement age. His budget plan would balance the National Debt in less than 10 years, let alone his tax plan would cut taxes for everyone whereas Trump's cut's taxes for some people.

The idea of taking away life insurance tax benefits would fall on deaf ears I believe, many of his fans wouldn't be able to comprehend the idea, let alone make it a fiery issue. But I believe he could be shedding light upon this "rich person loop-hole".

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Not that I'm defending the wind-bag, but I don't think his life insurance change will make a difference. Here's the line he used:

"The Trump plan also phases out the tax exemption on life insurance interest for high-income earners, ends the current tax treatment of carried interest for speculative partnerships that do not grow businesses or create jobs and are not risking their own capital, and reduces or eliminates other loopholes for the very rich and special interests."

https://www.donaldjtrump.com/positions/tax-reform link to his whole plan
 
Basically every dollar of life insurance is a dollar the government doesn't have to spend. Why either side of the aisle doesn't see this, just beats me.
 
He is only taxing the cash build up not the death benefits. It is interesting that Trump himself does not own any private placement life insurance. At his wealth, he would get a much better deal then The John Hancock policies he was sold. I guess the life insurance agent at John Hancock was not allowed to show him a better deal.
 
Does the Trump plan propose to tax death benefits?

When someone knows, I'd like to hear about it.

He wants to enact capitol gains tax on the CV increase. Which will never happen since it would take an act of congress to do this, & the people funding the congressional campaigns are the ones who utilize WL & UL the most.
 
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