Poll: 74 Percent Support Higher Taxes On The Rich

4793929Almost three-quarters of Americans think it is a good idea to raise taxes on people making more than $250,000 per year, according to the latest CBS News/New York Times poll.

In fact, two-thirds of Americans think the tax code should be changed so that middle-class Americans pay less than they do now, while "upper income" people pay more.

As for President Obama's overall budget plan, a majority - 56 percent - say it sets the right priorities for the country. Thirty-two percent say it doesn't, and twelve percent don't know.

The poll also finds that Americans are more likely to say the spending proposals in the budget will help the economy (37 percent) rather than hurt the economy (23 percent). Twenty-nine percent aren't yet sure.

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Read The Complete Poll (PDF)

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Similarly, 32 percent of Americans say they think Mr. Obama's proposed tax plan will help the economy, while 21 percent think it will hurt. Again, a significant portion – 37 percent – are unsure.

Fifty-six percent of Americans say they approve of Mr. Obama's overall handling of the economy. (Read more on Obama's approval ratings here.) His marks on specific economic policies, however, are not so high.

The poll shows that fewer than half support the Obama administration's recent plans for either the auto or banking industries – though there is more support for the administration's proposals for automakers.

(CBS)

Forty-seven percent approve of the administration's proposals for the automakers, while 38 percent disapprove.

Eight-two percent say it is important to provide money to the auto companies in order to save jobs, including 49 percent who say it is very important. Seventeen percent say it is not important.

Meanwhile, a majority of Americans – 58 percent - disapprove of the administration providing financial aid to the banking industry. Only 33 percent approve.

Americans are divided over who will benefit from the plans help to the banking system: Forty-seven percent think all Americans will benefit, while nearly as many – 40 percent - say only bankers will.

Here are some more economic highlights from the poll:

• Americans are split when asked to choose between more stimulus spending and deficit reduction – 45 percent prefer spending while 46 percent prefer reducing the deficit. There are sharp partisan differences mirroring the division in Washington: Six in ten Democrats see the need for spending, while six in ten Republicans would prioritize the deficit.



• In the long term, the national debt looms as a concern. An overwhelming 91 percent of Americans today worry that it will create hardships for the next generation.



• A solid majority – 71 percent - thinks government regulation of banks and financial institutions should be increased in order to help prevent future financial crises. Both Democrats and Republicans agree.



• Sixty-four percent think in order to receive money from the federal government companies should have to accept instructions from the government on how to run their businesses. Twenty-seven percent the companies should still be able to run themselves as they see fit.



• Twenty-eight percent say they are enthusiastic about Mr. Obama's handling of the economic crisis, and another 40 percent says they are satisfied. On the flip side, 22 percent say they are dissatisfied and nine percent say they are angry.



• Just 11 percent of Americans think the economy is in good shape now, while 89 percent say the economy is in bad shape - about the same percentages that felt that way three weeks ago. However, the public's outlook for the economy is improving. While only 20 percent think the economy is getting better, 34 percent think it is getting worse – the lowest percentage in two years.



• Few Americans see a quick end to the current recession. One in 10 thinks the recession will last another six months, and 38 percent think it will last a year. Forty-nine percent envision it lasting two years or more.



• Many Americans have cut back on their day-to-day spending. Forty percent have eliminated some luxuries and another 10 percent have cut back spending on necessities; thirty one percent have cut back on both. Just one in five says they have not made any spending cutbacks.

More CBS News Polls Released Today:

Poll: Obama Approval Hits New High - 66%

Poll: Majority Would Pay Higher Taxes For Universal Health Care

Poll: Support For Free Trade On The Rise

[jwells61]

Facts. Not wishful thinking or deceite. 1/2 of the worlds billionaires reside in this country. Their wealth continues to accumulate. Everyone else gets screwed. Not only should they be taxed more but they should also be accountable for their errors as other Americans. Why does Donald Trumph file bankruptcy yet today he is still wealthy ? Why has this crap been going on for so long ? And why are so many Americans so willing to be played for being stupid and eagerly led by those with motives to deceive ? It makes me sick.

[hungryman9]

By the way France has a better health care system (best in the world), more freedom and a happier citizenship. And Yes We Can have it here. It is the right wing corporatists who should find another country.
Posted by noloyalisti
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You don't know what you are talking about. Also you better hope and pray that this country never gets a system of healthcare the same as France. From experience spending time over there and having many friends that spent years in France, I can tell you that this country has the best healthcare in the world and it is not great. If you go to the emergency room, they have to treat you. In France they don't and often you get to see a doctor days later. Research it buddy. I know.

[oursidephilip]

@noloyalist If you think France is so great then move your liberal rear over there...France is despicable and this country is going to stay free.

[investbyads]

Why is France despicable?

[oursidephilip]

If Obama and others want those who make over 200k a year to pay higher taxes then lets see them eat their own dog food. Mr President, lets first see you pay 90% of your income to taxes like you want Executives to do. And all of the other liberal supports of the "share the wealth" effort, stop being hypocrites and show us that you will do what you expect others to do. The press release on Wednesday saing that they paid their taxes from last year, no kidding, so did everybody else. That shows nothing, every president and citizen in the country does that, show us that you are willing to pay 90% before you FORCE others to!

[babooph]

A couple lobbyists are going to be ,[as usual] ,the main factor in the new tax code -the US voter has little more value than sewage to the bribed politicos-that is how the rich got rid of their tax in the 1st place.

[noloyalisti]

I am an entrepreneur (a French word by the way), who is more than happy to build my business and others. I am also smart enough to know that voting for Republican to build huge corporations is the problem.

By the way France has a better health care system (best in the world), more freedom and a happier citizenship. And Yes We Can have it here. It is the right wing corporatists who should find another country.

[samthewill]

it is unbelievable how short sighted people are. many of my contacts at www.affluence.org have told me they are going to stop putting so much time and money into building companies because taxes targeting entrepreneurs take away any incentive to create or compete. it's a joke. if you are so selfish you want somebody else to pay your bills, move to france. or at least realize that by being a parasite you hurt the whole country.

[noloyalisti]

It seems to me the richer people become, they less they care about other people or their countries. They will never do the right thing and must be forced.

Time to seize assets we need for We the People. And have severe government regulation by We.

[ubrew12]

chitlins said: "General Electric is so completely wrapped up in the OBAMA administraton, it's ridiculous. To allude to them that they lean right is ludicrous! "

I alluded that they hide their ridiculously high earnings using hedge funds overseas, so that they don't have to pay their fair share of taxes. I didn't allude that they lean right. I have no idea what their corporate political leaning is, or even that ANY corporation should necessarily have a leaning.

[ubrew12]

T Boone Pickens: "The first billion is the hardest"
Warren Buffet: "There's class warfare, all right. But its my class, the rich, that is waging it. and we're winning"

I think what these guys are saying is that its much easier to make money if you already have it, than to make it from scratch. And that's why we have a progressive tax structure. These people don't EARN their extra billions, but it accrues to them anyway. Its proper that they pay a higher tax rate on the marginal amounts they make over the first half-million or so.