Ep. 168 Bob Murphy Responds to Dave Ramsey Calling IBC a Scam
Personal finance guru Dave Ramsey recently called IBC a scam on his popular show. Ramsey alleged that the dividends received from a mutual life insurance company were just deliberate overcharges to make the customer think he was earning a profit, even though it all came out of the customer’s own pocket. Bob sets the record straight.
Mentioned in the Episode and Other Links of Interest:
- The YouTube version of this episode (recommended!).
- The YouTube video where Dave Ramsey calls IBC a “scam.”
- An Investopedia article explaining the history of cash-value life insurance and the Modified Endowment Contract (MEC) tax rules.
- Someone else’s YouTube video showcasing Dave’s dismissal of Peter Schiff as an “idiot” and “kook.”
- The “Foundations of IBC” video series, put out by the Nelson Nash Institute.
- The Case for IBC (authored by Nelson Nash, Carlos Lara, and Bob Murphy).
- A listing of graduates of the IBC Practitioner Course.
- Help support the Bob Murphy Show.
The audio production for this episode was provided by Podsworth Media.
About the author, Robert
Christian and economist, Chief Economist at infineo, and Senior Fellow with the Mises Institute.
I would love to hear a debate between Robert Murphy and Dave Ramsey on IBC.
That would be like uber-dry.
Dave would have been really glad if he owned WL when he went bankrupt, as the CV is protectex from Creditors!
Does Dave really think all WL is a ponzi scheme? I knew he was stupid but dang. Also Bob is so sweet I love him
Awww shucks… I don’t know if he’d say Ponzi scheme, but he definitely thinks it’s a scam and ripoff.