This Is How America's Ultra Wealthy Are Evading The Democrats' New Taxes | WHAT REALLY HAPPENED X-Frame-Options: DENY X-Frame-Options: SAMEORIGIN

This Is How America's Ultra Wealthy Are Evading The Democrats' New Taxes

For most Americans, the term Private Placement Life Insurance, or PPLI, is financial gibberish. But for the ultra-wealthy, those who represent the top 0.1% in the wealthy pyramid, that acronym represents financial freedom from the coming Democratic tax hike tsunami.

As many ultra wealthy Americans - those whose net worth is $20 million and over - scramble for places to hide from Democrat plans to hike their taxes, many on Wall Street think they’ve found just the thing, and as Bloomberg reports today the tax oasis is a niche strategy called private placement life insurance, which is was already gaining popularity among the very rich for its ability to shield fortunes from taxes. Advisers to the top 0.1% already say it’s dominating conversations with their clients.

The threat of higher taxes, which President Biden has affectionately called making billionaires and millionaires pay their “fair share”, isn’t the only factor sparking interest in PPLI: as Bloomberg's Ben Steverman writes, "a little-noticed change in US insurance law at the end of 2020 makes the tool more powerful, at the same time that competition among insurance carriers and advisory firms is giving rich investors more flexibility, lower costs and a wider choice of products on PPLI platforms."

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