Americans OK Allowing Tax Cuts for Wealthy to Expire

One in three favor keeping tax cuts for all taxpayers
by Jeffrey M. Jones
Gallup

PRINCETON, NJ -- A majority of Americans favor letting the tax cuts enacted during the Bush administration expire for the wealthy. While 37% support keeping the tax cuts for all Americans, 44% want them extended only for those making less than $250,000 and 15% think they should expire for all taxpayers.

These results are based on an Aug. 27-30 USA Today/Gallup poll. The fate of the 2001 and 2003 federal income tax cuts that were a centerpiece of Bush administration policy could be a significant campaign issue this fall. The tax cuts are set to expire after this year unless Congress votes to extend them. Congress plans to take up the issue next week when it returns to session.

It appears as though Congress, like the American public, broadly agrees that the tax cuts should be extended for American families earning less than $250,000. The debate Congress will have this fall will be over whether to extend the tax cuts for wealthier Americans. Most Republicans and some Democrats in Congress are thought to favor extending them for wealthier Americans. President Obama said Wednesday that he is opposed to any plan that would extend the tax cuts for wealthier Americans.

(More here.)