Financial Pros Want Bush-Era Tax Cuts

A survey of financial professionals conducted shows that most of the respondents want Bush-era tax cuts to be extended.
By Andrea Tse ,


NEW YORK (TheStreet) -- A survey of financial professionals conducted by Cogent Research and released by the Insured Retirement Institute (IRI) shows that most respondents are in favor of having the Bush-era tax cuts extended.

Eight out of 10 respondents indicated that they believe the Bush-era tax cuts should be extended, according to the survey.

The findings came from a 12-minute online survey completed by nearly 200 financial professionals.

Only 15% want taxes to be raised on all earners and only 17% expressed support for increasing them on the top 2% of earners.

Likewise, six out of 10 respondents stated that they believe annuities should be further incentivized.

"Our survey results clearly show that there is a great deal going on in Washington, D.C., that has the potential to affect financial professionals across the nation, directly impacting their ability to effectively service their clients," said Insured Retirement Institute CEO Cathy Weatherford.

"The issue of taxation remains central, with capital gains rates earning strong second billing on a list of their concerns."

The survey findings also show that support for reducing the capital gains tax is strong, with more than 60% of those surveyed stating they believe the rates need to be lowered.

-- Written by Andrea Tse in New York.

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