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Should Bush tax cuts be extended?

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While President George W. Bush is no longer in office, his name has been making headlines lately with the debate over whether to extend the Bush tax cuts.

Perhaps you were even contacted about the topic by Cogent Research, which conducted a survey of roughly 200 financial professionals to get their thoughts on cutting taxes. Commissioned by The Insured Retirement Institute, the survey found “eight out of 10 respondents believe that the so-called Bush tax cuts should be extended.”

Other findings from the survey:

  • Only 15 percent want taxes to be raised on all earners.
  • Only 17 percent express support for increasing taxes on the top two percent.
  • Six out 10 respondents stated they believe annuities should be further incentivized.

In addition to taxes, IRI and Cogent asked advisors about their preferences for contacting clients and how they prefer to be contacted by wholesalers.

The survey findings also include:

  • Support for reducing the capital gains tax is strong, with more than 60 percent of those surveyed stating they believe the rates need to be lowered.
  • In regard to client communications, the majority of advisors tend to contact their clients by phone, as opposed to e-mail or in-person. More than 60 percent of advisors communicate with their clients via the phone, with e-mail usage ranking a distant second at under 20 percent.
  • Despite using traditional means to connect with clients, more than 95 percent of respondents indicate they are online “several times a day,” with eight out of 10 looking for research and/or news and industry developments.
  • As for their preferred method of being contacted by wholesalers, 70 percent would like it done by e-mail, 17 percent by phone and less than 10 percent in person.

So what are your thoughts on the extending the Bush tax cuts? Can I hear a yay or even a nay?


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