I think trump is making populist rhetoric that he will never get through congress. The insurance lobby would fight him. He also promises to repeal the estate tax which would also affect some life insurance sales. Neither Trump or Sanders are good for the insurance business. Sanders promises to bankrupt health insurers. I am sure he will go after life insures as well. Sanders sees himself as a communist reformer. Trump is the lesser of two evils here. Trump is business friendly and I like his low tax rates. I see him as more likely to make a deal with insurance companies that is win win. I do not think he will leave us out in the cold. After all, millions of Americans work in the insurance sector. Icahn, a close friend of Trump has controlling interest in AIG. I just dont see Trump doing anything to harm insurance companies. It is rhetoric IMO. Insurance companies have been under attack for several years now. The US is going the way of socialist nations and nationalizing various sectors of the economy. Perhaps at some point I will be out of business or switch to property and casualty unless that becomes nationalized as well.
A Trump Presidency & Life Insurance & Taxes
- Thread starter axeman462
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- life insurance
- 11,275
You're right... but that's a state and local tax, not a federal tax (which is why I mentally omitted that from my mind when I wrote my post).
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Oh... And it applies to every homeowner... Not just high earners.
- Thread starter
- #13
Actually, it is true. Its straight from his website.
https://www.donaldjtrump.com/positions/tax-reform
Scroll towards the bottom, it is under "The Trump tax cutz are fully paid for by:" and then bullet 1.
- 10,326
What the president says when it comes to taxes does not matter all that much. What matters is what congress does. Considering the amount of money congressional representatives get from the insurance industry I doubt they are changing that law anytime soon.
Trump is a populist. He is going to say one of two things, whats popular to hear, or whats going to get him camera time.
Trump is a populist. He is going to say one of two things, whats popular to hear, or whats going to get him camera time.
- Thread starter
- #16
Yeah...because Presidents like Obama never get their agendas passed...
Bronko519
New Member
I cannot think of a better reason to join NAIFA THE NATIONAL ASSOCIATION of INSURANCE and FINANCIAL ADVISORS. 1-877-866-2432
NAIFA.ORG Now is the time for you to join
NAIFA.ORG Now is the time for you to join
- 11,275
If the Obama Presidency wasn't enough of a reason...
If the Elizabeth Warren & DOL 'fiduciary rules' aren't enough of a reason...
... for some reason I don't think that Trump or any other Republican candidate will be enough of a reason to join NAIFA.
Now, if Bernie is elected... ?
If the Elizabeth Warren & DOL 'fiduciary rules' aren't enough of a reason...
... for some reason I don't think that Trump or any other Republican candidate will be enough of a reason to join NAIFA.
Now, if Bernie is elected... ?
I think this would happen in a Bernie administration before a Trump one...there goes 162 plans!
If the polls near the election were going for Bernie, I think there is a good chance Congress will remain Republican and nothing will get accomplished. Now if Hillary is the candidate, the congress can go either way, the life insurance exemption will remain. Now if trump is leading the polls by big margin, there is a good chance Democrats will take senate and may be house. Again nothing will happen to life insurance. I dont think the other republican candidates have no chance even though I would be happy to see Kasich with a slim Democratic majority in Congress, I think the country would be better off.
