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.

By Kim Peterson Nov 28, 2012 2:31PM
Image: Wealthy woman (moodboard/Corbis)A new poll shows that most Americans -- even those making more than $100,000 a year -- still favor raising taxes on the rich.

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.

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Tags: Economy
48Comments
Nov 29, 2012 10:13AM
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There is a spending problem with the US Government. They don't know what the word budget means.
Nov 29, 2012 10:38AM
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75% pay just 12% of the total income tax. the The top 25% pay 88%. But yet its the slugs that pay little or nothing that expect the rest to carry them even farther. Romney was right, we have so many "victims" that cant even wipe their butts without the government helping them. You cant fix stupid and lazy by taxing  the productive and responsible.
Nov 29, 2012 12:20PM
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Why are we borrowing money from China and then  giving it away in the form of foreign aid? this is completeley nuts !! why should we be paying interest on money that was given to pakistan to help modify their power grid? I agree totally that we as a country are trying to spend ourselves out of trouble with borrowed money. The Government must be stopped now. Pull the troops back, end foreign "interference" stop foreign aid as we obviously cant afford it. Reduce the size of government by at least 40% ASAP.
Nov 28, 2012 4:06PM
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These 60% of Americans are either extremely naive or ignorant. They don't realize that the upper percentile will only pass those tax increases onto them via higher premiums, fees, sur-charges, deductions or less pay. The U.S. has a SPENDING problem NOT a tax revenue problem. Increasing taxes on anyone only perpetuates the Federal government's insatiable appetite for spending. The Federal government needs to shrink in size, spend less, consume less, import less, produce more, save more and export more. If the U.S. did this GDP would easily grow  3-5% per year, until then raising taxes only puts a band-aid on the problem and doesn't address the real underlying issues.
Nov 29, 2012 1:53PM
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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...

Nov 28, 2012 4:46PM
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Most Americans are lazy greedy people who do nothing but covet what others have. It's a disgrace.
Nov 29, 2012 5:33AM
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Fair isn't requiring someone to contribute to SS and Medicare their whole life; then, when it's time to claim your benefits saying "Hey, you're rich, you don't need the benefits". Fair isn't requiring the wealthy and middle class to carry the tax burden for the 47% or so that pay no federal taxes. The reality is this. Those of us who pay into the entitlement programs will get back far more then we ever put in. Most folks don't remember this, but in the early 80's the government allowed, for a short time, businesses to withdraw from the SS plan. So many did that they has to close that plan and require that all join in SS. Some, very few, are born into wealth. Others, most, acquire it through their sweat and labor. The number 1 way to wealth in America is start a business. I'm not even upper middle class. By most standards, I've been broke my whole life. BUT in order to acquire what I have I worked 2 jobs for 12 years----60-70 hours a week. I'll be damned if I'm going to give my bucks to some bleeding heart liberal or some Dem hollering fair share or tax the rich!! The hell with that garbage.
Nov 30, 2012 2:13AM
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the rich should pay more in taxes but this can come back to bite us in the butt,,,,,,,,,,,,

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.


bite us in the butt,,,,,
Nov 29, 2012 7:35PM
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I think it's time to get those people who pay no tax to pay at least something. If you're getting the benefits of living here you should at least contribute what you can afford to the cost. As for me, when the taxes get too high I'll take my money and move to another country like Ecuador where they don't mind having people with money. Contrary to popular opinion, this isn't the only, or necessarily the best democracy in the world.  I've been to a lot of places where I could easily live quite happily and comfortably.  People without money are stuck here, I'm not.
Nov 30, 2012 12:09PM
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Tax the rich til there are no rich anymore...

than who's gonna pay your welfare ?

Nov 30, 2012 6:48PM
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The top 1% pay 34% of the total income taxes, the bottom 75% pay 12%. So tell me again who the freeloaders are? And they're the ones wanting to raise taxes, always on someone else. If the bottom 75% paid their share and we made the able bodied slackers who suck off the government teat work, we would be fine.
Nov 29, 2012 2:04PM
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Grow dependency, grow the democrat party. Its been working well the last 4 years. Millions more expected. Welfare, foodstamps, subsidized housing in exchange for votes.
Dec 1, 2012 9:08PM
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Spending is the issue, there is plenty of revenue.  Apparently there are enough freeloaders to elect the wrong person president.  Those of us that work and save want to be one of the rich someday however the current administration treats work and frugality as a sin.  I am not giving up though because one day Obama will be seen for the idiot he is.
Nov 30, 2012 1:58PM
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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.

Dec 2, 2012 1:28PM
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Benjamin Franklin knew, even in his day,  that once the 51% learn they can tax the other 49%, the republic would fall. The freeloaders and slackers are taking over, supported by the useful idiots in Hollywood. Go down the list, unemployment benefits, food stamps, welfare recipients, free govt lunch programs, SSI disability recipients, 1 trillion in student loans, bailouts, government unions and pensions, all at record highs. Add Obamacare, thousands of pages of regulations and another 6 trillion in debt over the next four years coupled with complete mismanagement of government, no budget, sex and spending scandals, inept foreign policy and a complicit mainstream media, we have a horrible 4 years to look forward to. Roberts showed we can expect no help from the court to protect individual rights either. Who should we admire and respect, those who work and produce, those who despite these odds still try and operate a business. Obama fiddles while Rome burns. 
Nov 29, 2012 2:07PM
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If you are too dumb or lazy to join 'em, tax 'em.

 

Where's my free stuff?

Dec 3, 2012 10:27PM
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Americans don't know how to handle their finances, so how can you ask the Government, run by Americans, to handle finances.
Dec 4, 2012 1:30PM
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Raising taxes takes money out of the private sector (reducing it) and grows government, in general.  Doesn't matter who you tax, still this same result.  As government grows tax increases are less effective because the private sector is smaller.  Example:  Making a school district Superintendent who makes 250K/yr pay higher taxes is a waste of time because his pay comes from taxes in the first place.  Dems just don't get this concept.  The bigger government is, the less effective tax increases are because you are re collecting the same money.

 

It's like a person on welfare buying a pack of smokes.  The tax revenue on the sale is a waste because tax dollars are making the purchase.

Nov 29, 2012 6:22PM
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Absolutely tax the rich!!  But lets do this, since we are a global community.  Let us define "rich" in the very broadest terms shall we?  I mean, since everyone does benefit from the money that the federal government spends then everyone should have to pay their fair share, right?  This is a sound logical argument.  So if we define rich as all those people who are above the world poverty line, then we will be able to tax, lets see..carry the one and add this column to this column...everyone!  Just think how fast the deficit will be reduced!!  Now still think we should tax the rich?  Oh hell just tax everyone but me.

Nov 30, 2012 5:52AM
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The government may go after 401K's and IRA's and other pension plans, but I doubt the public or any politician who wants to get re-elected will let that slide through. Those of us old enough to remember----remember the 1968 Democratic National Convention and the 1968 MLK riots. Things can get pretty nasty in this country, people get hurt, and a lot of property damage occurs. I've never protested anything in my life, but I lived just outside Balt. and saw first hand the damage that gets done. Businesses burned to the ground and others looted. The National Guard was called in and curfews were set. People do die in these things. Our country is very badly divided, publicly and politically. Some people are extremists and I would guess that 1 polarizing incident might set things off. Nationalization of pension plans could do it. Confiscation of firearms might do it. I think the 1 thing that will either unite us or split us wide open just hasn't occurred yet. BUT, I absolutely think BO is pushing the buttons 
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