• As has been said by the chairman and several of the members in opening statements, the taxation of life insurance companies are some of the most complex and least logical provisions in the tax law today.
• The present provisions were adopted in 1959, and we quote I think a very apt statement by Judge Fletcher in our testimony, Judge Fletcher of the U.S. Court of Claims...

"These complex and obscure provisions bear all the earmarks of a conspiracy in restraint of understanding."

We share that view.

--  John E. Chapoton, Assistant Secretary for Tax Policy, Department of the Treasury (DOTT)

1983 0510, 0511 and 0728 - GOV (House) - Tax Treatment of Life Insurance - [PDF-991p-GooglePlay,

• Subcommittee on Select Revenue Measures of the Committee on Ways and Means