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Article: Capital gains rates expected to rise; Many advisers plan to take advantage of current 15% tax.(News)
- Article from:
- Investment News
- Article date:
- August 18, 2008
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Copyright informationCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Lisa Shidler
Capital-gains tax rates will increase regardless of who wins the presidential election in November, financial advisers say.
"I think there's a significant likelihood that no matter who wins, you'll see an increase,'' said James Delaplane, a partner with Washington-based law firm Davis and Harman LLP.
The candidates are divided over taxes.
Sen. Barack Obama, D-Ill., has said he might raise the 15% capital-gains rate to as high as 25%. And even though Sen. John McCain, R-Ariz., has said he wants to keep that rate steady, some advisers and industry leaders fear it would still go up if he were elected.
Some suspect that Mr. McCain might ...
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