Bloomberg Law: Rich Americans Already Have a Plan to Escape Biden’s Tax Hikes (September 2, 2021)

Bloomberg Law writes about strategies adopted by wealthy Americans aimed at avoiding the potential enactment of tax increases by President Biden. The article, “Rich Americans Already Have a Plan to Escape Biden’s Tax Hikes,” begins as follows:

Wealthy Americans are scrambling for places to hide from plans by Democrats to hike their taxes. Many on Wall Street think they’ve found just the thing. A niche strategy called private placement life insurance, or PPLI, was already gaining popularity among the very rich for its ability to shield fortunes from taxes. Now some advisers to the top 0.1% say it’s dominating conversations with their clients. The threat of higher taxes — what President Biden calls making billionaires and millionaires pay their “fair share” — isn’t the only factor sparking interest in PPLI.

To see the full article (subscription may be required), click Bloomberg Law: Rich Americans Already Have a Plan to Escape Biden’s Tax Hikes

Posted by Anthony Tran, Associate Editor, Wealth Strategies Journal

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s