Nearly three in four Americans want most of the Bush tax cuts extended, according to the latest Economist/YouGov Poll – and more than two-thirds of Republicans would extend ALL of them.
The more income you have, the more likely you are to want to extend all the tax cuts, including those for people earning more than $250,000 a year. When asked directly about increasing taxes on those earning $250,000, 54% of Americans would do it, but 28% would not. Even half of those with family incomes about $100,000 favor increasing taxes on the highest earners, but Republicans and conservatives oppose this.
More than four in ten Americans admit they pay their fair share in income taxes (and 4% believe they pay less than their fair share). But a similar percentage (43%) thinks they pay more than what’s fair.
Republicans and Conservatives are more likely to see a personal tax burden than are Democrats and liberals. A third of those with family incomes below $40,000 a year say they pay more than their fair share, while 50% of those with incomes above $100,000 a year do.
Most Americans expect their taxes to increase next year, too.
There is no consensus on managing taxes, however. When asked which party they trusted more on taxes, Americans divide evenly: 36% choose the Democrats, 37% the Republicans. And when they respond to a proposal to simplify the tax code by removing some deductions, 33% would be willing to do that, but 29% would not. The rest aren’t sure.
