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By Matt Kibbe
The short-term deal will assure long-term overspending
Independent voices from the The Washington Times Communities
Topic - Kelly Campbell
The people who manage money, Main Street's financial advisers, are overwhelmingly voting for Mitt Romney in this year's election — but are far less certain he will win, according to an online poll by the Financial Services Institute.
Record-breaking low interest rates and relatively more affordable housing should be the formula for a spike in home buying, but not everyone can take advantage of this buyer's market.
"People believe that the 15 percent capital-gains tax was a gift, and it's been something we've been very lucky to have," Mr. Campbell said. "It kept getting extended, but it's probably too low. That doesn't mean it should go to 25 or 30 percent — there's probably a happy medium."
Mr. Campbell said most financial advisers believe they've been living on borrowed time with the 15 percent tax rate on capital gains — which was part of the 2003 tax cuts President Bush signed.