Berkshire also sell Life Insurance the proceeds of which can be exempted from the Estate Tax. This is accomplished through the use of an Irrevocable Life Insurance Trust (ILIT). You could claim a potential conflict of interest here too. Buffett is just trying to sell more life insurance. I think the conflict of interest stuff is kind of silly. Berkshire is so big that everything Buffett says and does could be construed as a conflict? I think he is just proposing what he thinks is fair tax revenue wise for the country.
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