Monday, September 19, 2011

Three quarters of Americans support higher taxes in most recent poll

Conservative economics commentator and former Reagan Treasury official, Bruce Bartlett, has it:
I have previously posted a table showing that people support raising taxes as part of deficit reduction by a 2-to-1 margin over the Grover Norquist/Club for Growth/Tea Party position that the deficit must be reduced only by spending cuts without a penny of higher taxes. 
In light of President Obama's new budget plan, which includes higher taxes, I am posting an updated table, including a poll on Friday showing that three-fourths of people support higher taxes and only 21 percent support the doctrinaire right-wing position.

Can/Should the Budget Deficit Be Reduced with Spending Cuts Alone or Should There Be Some Increase in Taxes?
Poll
Date
Some/All Taxes
No Taxes/
All Spending
9-16-11
74
21
9-14-11
48
38
8-26-11
69
29
8-10-11
66
33
8-10-11
63
36
8-9-11
68
29
8-4-11
63
34
8-2-11
60
40
7-26-11
68
19
7-25-11
56
34
7-21-11
64
34
7-19-11
66
32
7-19-11
62
27
7-18-11
69
28
7-14-11
67
25
7-13-11
73
20
6-9-11
61
37
6-9-11
59
26
5-13-11
64
33
5-12-11
61
27
4-29-11
76
20
4-25-11
62
33
4-22-11
66
19
4-20-11
62
36
3-15-11
67
31
12-12-10
62
36
11-26-10
65
33
Average
64.5
30

Tax rates & job growth, aka "Class Warfare" deconstructed


The GOP rejoinder to President Obama's jobs and budget plans is, in short, a reversion to their mantra of tax cuts "uber alles."  They're engaged in hysterics about "Class Warfare!"  Their plan?   Lower taxes create jobs! 

Really?


Center for American Progress' Director of Tax and Budget Policy Michael Linden:
(I)f you ranked each year since 1950 by overall job growth, the top five years would all boast marginal tax rates at 70 percent or higher. The top 10 years would share marginal tax rates at 50 percent or higher. The two worst years, on the other hand, were 2008 and 2009, when the top marginal tax rate was 35 percent. In the 13 years that the top marginal tax rate has been at its current level or lower, only one year even cracks the top 20 in overall job creation.

President Obama unveils his long-term budget strategy

The complete speech