I believe that when it is a securitized issue spread around with no remote concept of insurable interest, you raise profound questions about whether or not this tax incentive ought to apply anymore.
Pomeroy questions the validity of tax incentives for securitized life insurance products.
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We want this base used, and used actively. It has a long history of playing an important role in our Nation's defense structure.
It is really on its face absurd. And I appreciate very much the leadership of this Committee in giving us these kinds of fora to have us sit in the sun and dissect it a little bit.
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