Politics

Poll: Majority Of Voters Support President Obama's Proposed Capital Gains Tax

| by Ethan Brown
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President Barack Obama’s plan to raise capital gains taxes on wealthy Americans is supported by most voters, according to a new poll.

The Associated Press-GfK Poll found that 56 percent of those surveyed would approve a tax hike on households that make more than $500,000 a year and hold lucrative stocks in successful businesses.

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Of those surveyed, 68 percent said that rich households pay “too little” in the current federal tax code, while 60 percent of respondents said middle class families pay “too much.”

The talk of higher taxes for the wealthy and skepticism over banks have become increasingly popular with some voters — the same voters who tend to support liberal Senators Elizabeth Warren and Bernie Sanders of Massachusetts and Vermont, respectively.  These two are seen as the best challengers, if there will be one, to Hillary Clinton’s run for the Democratic nomination for president in 2016, due to their progressive views on bank regulation and tax hikes.

But not all Obama’s proposed increase on taxes favored well. Only 27 percent said they would like to see estates pay taxes on inherited wealth.  In another question, 43 percent of respondents said they don’t want the president to halt tax breaks on college savings plans.

The poll also questioned voters about the Tea Party, which first came to notice during the 2010 election cycle and assisted Republicans across the country in winning back the House of Representatives.  In the poll, 21 percent consider themselves supporters of the movement, while 75 percent identified themselves as "not a supporter."

Speaking about the proposed tax hikes, Sanders said, “Most people understand that at a time when the rich are becoming much richer, the middle class is continuing to disappear. And people also understand that the very wealthy and large corporations are able to take advantage of huge loopholes, which enable them not to pay their fair share of taxes.”

If taxes are raised, 51 percent of voters believe the government should use those funds to pay down the national debt, now at almost $19 trillion, rather than support additional governmental programs, such as welfare.

Sources: ap-gfkpoll.com, Chicago Tribune Photo Credit: Wikimedia Commons