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Americans Support Tax Increases

We know the Republican view on taxes. In Minnesota, the government has shut down over Republican refusal to raise taxes on the fewer than 8,000 people making over $1 million. On the national level, Republicans are refusing to even consider raising revenue, threatening to let the U.S. default on its debt. But what about everyday Americans? Even with the influence of the anti-tax Tea Party, Americans strongly support raising taxes in order to decrease the deficit and reduce income inequality, as 19 polls taken since the beginning of the year show. Bruce Braley has the rundown:

A June 9 Washington Post/ABC News poll found that 61 percent of people believe higher taxes will be necessary to reduce the deficit.

A June 7 Pew poll found strong support for tax increases to reduce the deficit; 67 percent of people favor raising the wage cap for Social Security taxes, 66 percent raising income tax rates on those making more than $250,000, and 62 percent favor limiting tax deductions for large corporations. A plurality of people would also limit the mortgage interest deduction.

A May 26 Lake Research poll of Colorado voters found that they support higher taxes on the rich to shore-up Social Security’s finances by a 44 percent to 25 percent margin.

A May 13 Bloomberg poll found that only one third of people believe it is possible to substantially reduce the budget deficit without higher taxes; two thirds do not.

A May 12 Ipsos/Reuters poll found that three-fifths of people would support higher taxes to reduce the deficit.

A May 4 Quinnipiac poll found that people favor raising taxes on those making more than $250,000 to reduce the deficit by a 69 percent to 28 percent margin.

An April 29 Gallup poll found that only 20 percent of people believe the budget deficit should be reduced only by cutting spending; 76 percent say that higher taxes must play a role.

An April 25 USC/Los Angeles Times poll of Californians found that by about a 2-to-1 margin voters favor raising taxes to deal with the state’s budget problems over cutting spending alone.

An April 22 New York Times/CBS News poll found that 72 percent of people favor raising taxes on the rich to reduce the deficit. It also found that 66 percent of people believe tax increases will be necessary to reduce the deficit versus 19 percent who believe spending cuts alone are sufficient.

An April 20 Washington Post/ABC News poll found that by a 2-to-1 margin people favor a combination of higher taxes and spending cuts over spending cuts alone to reduce the deficit. It also found that 72 percent of people favor raising taxes on the rich to reduce the deficit and it is far and away the most popular deficit reduction measure.

An April 20 Public Religion Research Institute poll found that by a 2-to-1 margin, people believe that the wealthy should pay more taxes than the poor or middle class. Also, 62 percent of people believe that growing inequality of wealth is a serious problem.

An April 18 McClatchy-Marist poll found that voters support higher taxes on the rich to reduce the deficit by a 2-to-1 margin, including 45 percent of self-identified Tea Party members.

An April 18 Gallup poll found that 67 percent of people do not believe that corporations pay their fair share of taxes, and 59 percent believe that the rich do not pay their fair share.

On April 1, Tulchin Research released a poll showing that voters in California overwhelmingly support higher taxes on the rich to deal with the state’s budgetary problems.

A March 15 ABC News/Washington Post poll found that only 31 percent of voters publican policy of only cutting spending to reduce the deficit; 64 percent believe higher taxes will also be necessary.

A March 2 NBC News/Wall Street Journal poll found that 81 percent of people would support a surtax on millionaires to help reduce the budget deficit, and 68 percent would support eliminating the Bush tax cuts for those earning more than $250,000.

A February 15 CBS News poll found that only 49 percent of people believe that reducing the deficit will require cuts in programs that benefit them; 41 percent do not. Also, only 37 percent of people believe that reducing the deficit will require higher taxes on them; 59 percent do not.

A January 20 CBS News/New York Times poll found that close to two-thirds of people would rather raise taxes than cut benefits for Social Security or Medicare in order to stabilize their finances. The poll also found that if taxes must be raised, 33 percent would favor a national sales tax, 32 percent would support restricting the mortgage interest deduction, 12 percent would raise the gasoline taxes, and 10 percent would tax health care benefits.

On January 3, a 60 Minutes/Vanity Fair poll found that 61 percent of people would rather raise taxes on the rich to balance the budget than cut defense, Social Security or Medicare.

h/t Teagan Goddard

PFAW

Why do YOU pay more taxes than G.E.?

GEDo you pay taxes? Guess who doesn't. America's largest corporation: General Electric.

G.E. did not pay any taxes on their $14 billion in profits last year and instead got a $3 billion tax refund.1 But it doesn't end at G.E....

Senator Bernie Sanders of Vermont put out a Top 10 list of corporations with high profits and no taxes in recent years including Exxon-Mobil, Chevron, Bank of America, Goldman Sachs, Boeing and Carnival Cruise Lines. Over the last two years, Wells Fargo earned $37 billion in profits but got a $4 billion tax refund.2 And Hewlett-Packard reported over $9 billion in profits last year, but paid the same amount in taxes as someone earning just $30,000 a year.3

Tell members of Congress: Before gutting the budget of necessary programs that help middle-class and poor Americans, make sure corporations are paying their fair share!

This is not about business incentives, which are fine and can be valuable in helping to kick start the economy. This is about a system gone completely off the rails in which corporations are getting an unnecessary free ride at the expense of everyone else.

Congress is on the verge of shutting down over Republicans' demands for deep, draconian cuts to everything from public broadcasting and reproductive health to college loans and programs that feed poor children. So why aren't increases in revenue, beginning with basic Tax Fairness for corporations, on the table too? Conservatives seem hell-bent on slashing funding for every program under the sun that helps ordinary Americans, including Social Security and Medicaid, just so they can protect corporations' free ride.

The New York Times reported that corporate taxes made up 30 percent of all federal revenue in the mid-1950s, but as of 2009 were only 6.6 percent of total revenues. It's not hard to see that closing loopholes and ending billions of dollars of giveaways in corporate welfare could solve most if not all of our budget problems. Don't let this Tea Party Congress pay for corporate welfare on the backs of poor and middle-class families. Demand Tax Fairness Now!

Call on Congress to collect corporations' fair share in taxes before forcing through cuts that will harm millions of Americans.


We need to change the conversation and now is the time. While Republicans, the media and too many conservative Democrats continue to play to the false narrative that deep cuts are necessary, including cuts to essential retirement and health care programs, everyone is ignoring the real elephant in the room: that profit-swollen corporations are shorting America and its taxpayers billions of dollars every year. Congress can show they are really serious about budgets and deficits by making corporations pay their fair share, and making it the top priority over cuts.

After taking action, please help spread the word.

Thank you for all that you do to defend the American Way.

1. http://www.nytimes.com/2011/03/25/business/economy/25tax.html
2. http://wallstcheatsheet.com/breaking-news/economy/the-top-7-corporate-ta...
3. http://www.makewallstreetpay.org/bigbankdrain/big-bank-tax-drain.pdf
 

 


 

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