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Mississippi River Stories: Lessons From A Century Of Unnatural Disasters, Christine A. Klein, Sandra B. Zellmer
Mississippi River Stories: Lessons From A Century Of Unnatural Disasters, Christine A. Klein, Sandra B. Zellmer
UF Law Faculty Publications
In the wake of Hurricane Katrina, the nation pondered how a relatively weak Category 3 storm could have destroyed an entire region. Few appreciated the extent to which a flawed federal water development policy transformed this apparently natural disaster into a "manmade" disaster; fewer still appreciated how the disaster was the predictable, and indeed predicted, sequel to almost a century of similar disasters. This Article focuses upon three such stories: the Great Flood of 1927, the Midwest Flood of 1993, and Hurricanes Katrina and Rita of 2005. Taken together, the stories reveal important lessons, including the inadequacy of engineered flood …
Taxing Risk: An Approach To Variable Insurance Reform, Charlene Luke
Taxing Risk: An Approach To Variable Insurance Reform, Charlene Luke
UF Law Faculty Publications
Variable life insurance and annuity contracts are susceptible to being marketed and sold to taxpayers for whom such contracts are unsuitable and to being used in wraparound insurance shelters. As a method of addressing these problems, I propose current taxation for the risky returns on these contracts but continued deferral for a deemed, risk-free return amount. The increased transparency resulting from the forced separate tax accounting of contract components should improve consumers' ability to receive adequate suitability evaluations and may also lead to lower fees. Current taxation of risk-related returns removes an apparently key shelter incentive and should make it …