People still want to tax the rich
A new poll shows 60% support for new taxes on the wealthy as an option to reduce the federal deficit.
The survey, by ABC News and The Washington Post, showed that six out of every 10 Americans approve of a tax hike for people making more than $250,000 a year. That is exactly in line with what voters in this month's presidential elections said in exit polls, according to the Post.
Not surprisingly, Democrats were most in favor of new taxes on the wealthy, with 73% supporting such a move. About 63% of independent voters were in support, but 59% of Republicans opposed taxing the rich.
Among those making more than $100,000 a year, 57% support new taxes while 42% are opposed, Politico notes.
In fact, when it came to different ways to cut the federal deficit, taxing the wealthy was the most popular option. Capping deductions on federal income taxes won far less support, even though this move would mostly impact the rich as well. Only 44% of those surveyed favored caps on deductions.
And forget about raising the age for Medicare to 67 from 65. That received only 30% support.
The poll, and others like it, may give a boost to President Obama as the White House and Republicans negotiate a way out of the so-called "fiscal cliff" that threatens to kick in next year as the Bush tax cuts expire.
More from Money Now
Of course most americans want the rich to pay more. That's because they aren't rich... What a dumb poll...
Do most americans think the rich should pay higher SS? Yes
Do most americans think the rich should not get SS? Yes
Medicare taxes? Yes and Yes
Higher Income taxes? Yes
Should the rich pay a special "rich person only" tax? Yes
There are even a lot of americans that waht the rich to pay a tax on their net worth...
Americans in general are greedy and only think of themselves. If the rich pay more then they pay less...it's simple. There's no reason to do a poll...
This couldn’t possibly happen in America, right? At one time, most Americans also believed heath care mandates that force Americans at the barrel of a gun to surrender portions of their earnings into a universal system for all would never happen. Well, it did.
And now, those who would control and regulate every aspect of our lives are making a new push; one whose efforts will ultimately end in the seizure and redistribution the personal retirement savings of every American who has ever put money into a 401(k) or IRA.
This is no longer in the realm of conspiracy, but rather, public record.
A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort to nationalize the nation’s pension system and to eliminate private retirement accounts including IRA’s and 401k plans, NSC is warning.With the re-election of President Obama, a majority Democrat Senate and powerful organization and lobbying from labor unions, we can fully expect legislation that will shift private accounts into the public coffers to become reality in the not too distant future.
In fact, the push to mold the perceptions surrounding this issue is already on,
Did you know, for example, that 401(k) plans aren’t supposed to provide you with full retirement benefits, and that they were originally intended to be “mere supplements” to other plans, and that they only “benefit the rich?” Not only that, but according to the article, no one can really tell you how much money you’re going to need; all of those math formulas and expert calculations were all wrong. Additionally, there are so many hidden fees that you’re losing hundreds of thousands of dollars to Wall Street (most of us knew that one).
And all this time, the millions of Americans who contributed their money to these accounts over the last three decades were under the impression that their accounts would one day grow into a retirement nest egg from which retirees could spend their days in comfort and relaxation.
Nope. We had it all wrong. Private retirement accounts were never actually designed to ensure that you could retire! Only a government managed retirement plan can ensure that you will have the money you need when you turn 59 1/2. Only they will be able to ensure you don’t pay excessive, hidden fees (even though they could have created legislation to require firms to overtly disclose this information int he first place). And, only the government can provide 100% full retirement coverage, not just supplemental funds. Oh, and they also know WHEN you should retire, currently 65 years of age.
It’s on folks. They are going to hit Americans from all angles on this one.
First, the political hearings that will claim only the rich are benefiting from private retirement accounts.
Then they’ll point out how stock market crashes and volatility put your money at risk. In fact, if we do have another market crash, look for this to be a key reverberation.
Then they put the spin machine into action, so that you think you’re getting unbiased analysis and truth.
Then they open the guilt spigot and make those who have personal retirement savings wonder if they are being greedy, and those who don’t have savings will direct their anger not just at the rich, but anyone who has put any money away.
Finally, they will pass a bill, which we have to pass first in order to know what’s in it, and it’ll be a done deal.
The government of this country is coming for everything they can get their hands on.
Tax the rich til there are no rich anymore...
than who's gonna pay your welfare ?
Taxes on wages are the greatest evil of our American Republic. When government is free to steal from you, there are no limits to waste and abuse in government. If a person chooses to work extra hours or two jobs in order to better provide for themselves or their family, they should not be penalized, but that is what happens. The more you make by working harder and longer, the more money is stolen from you, and given to those who spend their lives living off the hard work of others.
The revenue the government needs to provide legitimate constitutional services should be obtained primarily from a national sales tax instead of a tax on wages. All would pay based on consumption, the more you spend the more you pay. The more luxury you surround yourself with, the more you pay. Your choice. A national sales tax system would capture money spent by criminals and by illegal aliens who currently pay near zero in taxes. There would of course need to be exemptions: Cars (already have a federal excise tax) Primary Residence/Rental Properties (vacation homes would be subject to tax/rental profit would be taxed) Fresh Food (Preprocessed foods and prepared meals would be taxed – only fresh/fresh frozen/canned goods would be exempt) Insurance Premiums, Health Care & Certified Education.
Adding another layer of tax to a business would not be fair. Businesses would need to be compensated by keeping a portion of the tax to cover the expense of collection and reporting. A percentage of .20 to .05 would be fair.
If you are too dumb or lazy to join 'em, tax 'em.
Where's my free stuff?
What you all need to look at is how much government workers get this is where the issue is. $174,000 thy get paid to play with your life.
Government needs to cut cost not tax the people more.
Why is this not on the table?
Lies from both sides just so they have the easiest job in the world next to welfare babies.
Wake up people government needs to cut cost not add cost or take money from the rich or the poor..
Good god this is easy to fix but not if it take out of their pocket (government).
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.
Tired of constantly dying batteries, she came up with a device that could revolutionize energy storage -- and won $50,000 from Intel.
- Detroit in hot water over proposal to sell art
- Sears spirals toward oblivion
- Why aren't heads rolling at the IRS?
- Do we pay attention to roads and bridges now?
- Yahoo may be going after Hulu
- Apple's first computer could fetch $450,000
- AT&T adds sneaky fee onto its wireless bills
- Soaring ER use adds more pain to health costs
- Netflix gets 'Arrested Development' stars cheap
[BRIEFING.COM] Stocks entered the weekend on a mixed note as the S&P 500 shed 0.1% while the Dow ended with a gain of 0.1%.
The major averages began the day on a lower note as nine of ten sectors saw losses of more than 0.5%.
The consumer staples sector was the lone exception as the group spent the entire day in positive territory thanks to the relative strength of Dow component Procter & Gamble (PG 81.89, +3.19). The second-largest staple stock advanced ... More
More Market News
Try as the bears might, they couldn't break U.S. stocks. But investors still face frothy prices and considerable headwinds.