|
Friday, November 20, 2009
|
|
|
|
|
|
Edwards would hike capital gains tax
Democratic presidential candidate John Edwards wants to raise the capital gains tax from 15% to 28%, according to published reports.
In remarks prepared for delivery this morning in Des Moines, Iowa, Mr. Edwards presented his plan, which would funnel funds collected from the capital gains tax into tax cuts for lower- and middle-income families. Mr. Edwards is also pitching an exemption for each family’s first $250 in interest, capital gains and dividend income; a savings program in which the government would contribute a dollar match of up to $500 for low-income workers; and tripling the Earned Income Tax credit for four million childless adults, plus other measures. The news is bleak for those in the higher income brackets: Not only would private equity and hedge fund execs have higher rates on “carried interest,” but executives will also see a $1-million cap on how much they can defer into their pensions. Mr. Edwards also said he would “declare war on tax havens” by giving the IRS the authority to investigate offshore tax breaks.
Recommend this article?
User Comments
Reproductions and distribution of the above news story are strictly prohibited. To order reprints and/or request permission to use the article in full or partial format please contact our Reprint Sales Manager at (732) 723-0569.
|
 |
|
|
Inside InvestmentNews.com Featured Conference Attend this FREE conference from your own desk, and listen to more than a dozen experts and executives from some of the top ETF providers and research firms lead a mix of discussions on the most critical ETF issues.
Featured Links Dec. 8, 4-5 pm. Ask questions about the outlook for equity and fixed income markets, and what advisers should be doing now for their clients.
Post your job requirements in the InvestmentNews Career Connection and find the best talent for your advisory firm.
Latest News
Most Popular
|
|
|
|
|
|
Fund Data Provided by
|
Markets Data Provided by
|
 |
 |