Majority Supports Increasing Taxes On High Income Earners
A new poll finds widespread support for the President’s position on raising tax rates for high income earners as part of the ongoing negotiations over a deal to avert the s0-called fiscal cliff:
With the fiscal cliff drawing closer, raising taxes on wealthy Americans remains a popular option. And while the public divides closely on reducing federal income tax deductions, two-thirds oppose another possibility, raising the age for Medicare eligibility.
Sixty percent in this ABC News/Washington Post poll support raising taxes on incomes more than $250,000 a year, long a popular option overall, but also a divisive one: While 73 percent of Democrats and 63 percent of independents are in favor, far fewer Republicans, 39 percent, agree.
Notably, “strong” support for raising taxes on the well-off is nearly double strong opposition, 42 vs. 23 percent. That’s because 57 percent of Democrats are strongly in favor, as are 42 percent of independents, vs. just 22 percent of Republicans.
While well short of a majority, support for a tax increase among four in 10 Republicans may provide some wiggle room to Republican leaders seeking compromise. Some, notably, have indicated a willingness to back off from the no-tax pledge many have taken.
This isn’t really all that surprising, of course. Two years ago when President Obama and a lame duck Congress were faced with the expiration of the Bush Tax Cuts. there were several polls showing that the public supported the President’s position to hold the line on extending the tax cuts for those earning more than $250,000 a year (see here,here, and here.) More recently, polling during the Presidential election gave us the same results, and the the Election Day Exit Polling showed the same thing. Politically, the President has one this issue and, unlike two years ago, he’s in a far stronger position than he was two years ago. This is the political reality that the GOP faces.