57% Say Tax Cuts Will Help Economy

Tuesday, January 27, 2009

Fifty-seven percent (57%) of voters nationwide say that tax cuts generally help the economy. The latest Rasmussen Reports national telephone survey found that only 17% disagree and believe that tax cuts will hurt the economy.

By a 56% to 23% margin, most voters also believe they pay more than their fair share of taxes.

The view that tax cuts are good for the economy is held by 68% of Republicans, 44% of Democrats and 60% of voters not affiliated with either major party.

Voters who earn less than $20,000 a year are fairly evenly divided as to whether tax cuts help or hurt, but a majority of voters in all other income brackets see tax cuts as helpful. Those earning $40,000 to $100,000 a year are most likely to see tax cuts as good for the economy. More...

President Obama promised tax cuts for 95% of Americans during his successful campaign for the White House and included tax cuts in his proposed economic recovery plan. Obama initially sought $350 billion in tax cuts, but the Democratic congressional leadership lowered that figure to $275 billion to make additional spending possible. House Republicans are pushing a plan that includes only tax cuts and no new spending. Polling conducted last week found voters evenly divided on a stimulus plan that included only tax cuts but strongly opposed to a plan without any tax cuts.

Forty-four percent (44%) of voters now say they’d vote for a candidate who opposed all tax increases rather than one who promised to raise taxes only on the rich. Last summer, voters were more supportive of a candidate who would raise taxes on wealthy Americans (see trends).

Interestingly, middle-income Americans are more supportive of a candidate who opposes all tax increases. Those who earn more than $75,000 a year lean towards a candidate who would raise taxes only on the wealthy. So do those who earn less than $20,000 a year. But those who earn between $20,000 and $75,000 a year would opt for the candidate who opposes all tax increases.

Fifty-seven percent (57%) say it’s more important for tax policy to help the economy than to make sure everyone pays their fair share of taxes while 37% hold the opposite view.

Fifty-nine percent (59%) are concerned that the government will raise spending too much in the coming year while only 17% are concerned about too much tax cutting. Only 16% expect their own taxes to actually decline.

Recent polling found that 45% of voters support Obama’s proposed economic recovery plan while 34% are opposed. New polling on the topic is being conducted this week. Obama himself continues to earn very positive Job Approval ratings.

Complete Original Article from RR