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My understanding is that the $1M requirement was signed into law by Reagan in the early 80s. $2.3M is that amount adjusted for inflation. You can make a case
by credo 17y ago
My understanding is that the $1M requirement was signed into law by Reagan in the early 80s.
$2.3M is that amount adjusted for inflation.
You can make a case that the $1M limit was too low (at the time Reagan signed the bill), but imo it doesn't make sense to argue that - in general - any limit should not be adjusted for inflation