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>> I plan to take advantage of the 0% rate the next two years and may even take advantage of the 15% rate because I expect these low rates to expire in 2010 with the current make up of congress. <<

For those who have more LTCG than they can use in the 0% bracket in 2008 *and* who are in the 15% marginal bracket for 2007, it might not be a bad idea to take advantage of the 5% rate this year, too. I wouldn't assume these rates will last in 2009, let alone 2010, depending on the outcome of the 2008 election.

I'd be using 2007 and 2008 to lock in as many long term gains at 0-5% as I could, consistent with the long-term goals of my taxable portfolio. I don't trust that these rates will be around in 2009, let alone 2010 and beyond. I believe these are scheduled to last through 2009, but they could be repealed in '09 if there's a president more willing to do so.

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