McCains benefit from Bud sale

Joe Sixpack Budweiser drinkers might be crying in their beers over the sale of the iconic American brewer to InBev of Belgium, but I suspect that John and Cindy McCain have no complaints.

Image details: Anheuser-Busch Approaches Mexican Beer Company Day After Bid From InBe served by picapp.com

The presumptive Republican presidential nominee and his Anheuser-Busch heiress wife probably hoisted a few foamy rounds after the announcement to celebrate their windfall.

Mrs. McCain’s company owns, according to news reports, between $2.5 million and $5 million in Anheuser
stock. The ImBev purchase should give her $800,000 to $1.6 million on the
pre-deal stock price.

Of course, that’s all on paper.

Potential tax savings, too: If, or more likely when, the McCains sell some of the holdings — sorry, when Mrs. McCain sells, since they keep their finances, and taxes, separate; but I suspect she’ll share a little — they’ll face capital gains taxes. Just how much depends, in part, on who wins the White House.

Under current tax law, which McCain once opposed, the stock sale profits would be taxed at a maximum rate of 15 percent. If that rate remains through its scheduled 2010 effective date or is made permanent, as McCain now advocates, that would save him and his wife a pretty penny, especially when compared to the 20 percent rate that long-term capital gains would be assessed once the law sunsets.

If, however, Barack Obama is elected, the McCains better sell sooner rather than later. The presumptive Democratic presidential nominee wants to hike the capital gains tax rate.

More on the McCain’s beer bonanza at AOL’s Political Machine, the Wall Street Journal’s Washington Wire blog and the New York Times’ political blog  The Caucus.