CNN Poll: Majority want tax increase for wealthy and deep spending cuts

F

Free Thinker

most americans want exactly what obama was holding out for. a balanced approach to debt reduction. tax incleases and some cuts but not social security or medicare:



Most Americans want a special congressional committee tasked with drafting a long-term solution to the nation's mounting federal deficits to include tax hikes for the wealthy and businesses and deep cuts in domestic spending, according to a new national survey.

A CNN/ORC International Poll released Wednesday also indicates that the public doesn't want the super committee to propose major changes to Social Security and Medicare or increase taxes on middle class and lower-income Americans.

Read full results (PDF).


Under the debt ceiling deal passed by Congress and signed by President Barack Obama last week, a panel of 12 legislators - six Democrats and six Republicans, equally divided between the House and Senate - will be created to try to work out $1.5 trillion in deficit reduction after an initial round of more than $900 billion in spending cuts.

If the committee fails to reach agreement or Congress fails to pass whatever package it recommends, a trigger mechanism will enact further across-the-board cuts in government spending, including for the military.

According to the poll, 63 percent say the super committee should call for increased taxes on higher-income Americans and businesses, with 36 percent disagreeing. And by a 57 to 40 percent margin they say the committee's deficit reduction proposal should include major cuts in domestic spending.

http://politicalticker.blogs.cnn.co...-increase-for-wealthy-and-deep-spending-cuts/
 
Quote from Free Thinker:

most americans want exactly what obama was holding out for. a balanced approach to debt reduction. tax incleases and some cuts but not social security or medicare:



Most Americans want a special congressional committee tasked with drafting a long-term solution to the nation's mounting federal deficits to include tax hikes for the wealthy and businesses and deep cuts in domestic spending, according to a new national survey.

A CNN/ORC International Poll released Wednesday also indicates that the public doesn't want the super committee to propose major changes to Social Security and Medicare or increase taxes on middle class and lower-income Americans.

Read full results (PDF).


Under the debt ceiling deal passed by Congress and signed by President Barack Obama last week, a panel of 12 legislators - six Democrats and six Republicans, equally divided between the House and Senate - will be created to try to work out $1.5 trillion in deficit reduction after an initial round of more than $900 billion in spending cuts.

If the committee fails to reach agreement or Congress fails to pass whatever package it recommends, a trigger mechanism will enact further across-the-board cuts in government spending, including for the military.

According to the poll, 63 percent say the super committee should call for increased taxes on higher-income Americans and businesses, with 36 percent disagreeing. And by a 57 to 40 percent margin they say the committee's deficit reduction proposal should include major cuts in domestic spending.

http://politicalticker.blogs.cnn.co...-increase-for-wealthy-and-deep-spending-cuts/
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IMO, this is based on the false premise that a balanced budget can not be reached without raising taxes as President Obama is constantly reminding us.

Balance can be reached by reducing the size and scope of Government, reducing ineffective expenditures, and rewriting the tax code so it does not distort rational spending decisions by businesses and individuals.

Let's start by asking do we really need a Dept of Energy, a Dept of Education, Labor, etc.

Eliminating very wasteful programs and subsidies, like the ethanol stupidity along with adjustments to Entitlements will do the job.

It's time to see if what Reagan tried to do; ie, starve the beast, will work.

Seneca
 
Quote from tradingjournals:

I bet you got it by looking at your mirror.:eek:
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Ummm, that is a quote from a British paper.

In terms of your stupid and ill-informed judgement, please be advised that I have three college degrees, including a Masters from the University of Chicago. I hold eight international patents.
 
Quote from Free Thinker:

most americans want exactly what obama was holding out for. a balanced approach to debt reduction. tax incleases and some cuts but not social security or medicare:



Most Americans want a special congressional committee tasked with drafting a long-term solution to the nation's mounting federal deficits to include tax hikes for the wealthy and businesses and deep cuts in domestic spending, according to a new national survey.

A CNN/ORC International Poll released Wednesday also indicates that the public doesn't want the super committee to propose major changes to Social Security and Medicare or increase taxes on middle class and lower-income Americans.

Read full results (PDF).


Under the debt ceiling deal passed by Congress and signed by President Barack Obama last week, a panel of 12 legislators - six Democrats and six Republicans, equally divided between the House and Senate - will be created to try to work out $1.5 trillion in deficit reduction after an initial round of more than $900 billion in spending cuts.

If the committee fails to reach agreement or Congress fails to pass whatever package it recommends, a trigger mechanism will enact further across-the-board cuts in government spending, including for the military.

According to the poll, 63 percent say the super committee should call for increased taxes on higher-income Americans and businesses, with 36 percent disagreeing. And by a 57 to 40 percent margin they say the committee's deficit reduction proposal should include major cuts in domestic spending.

http://politicalticker.blogs.cnn.co...-increase-for-wealthy-and-deep-spending-cuts/
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If true, another indication that the same voters who thought it was a good idea to vote for an inexperienced radical activist with a half page resume to be president still don't get it.

You can't raise taxes high enough to make a difference. You can't cut enough spending if you spare SS and medicare. And these geniuses would be surprised to learn that neither obama's vague proposals or the republicans' actual bills that passed the House cut spending a dime. It was all based on trading an immediate increase in government spending for an implausible and barely perceptible moderation in the rate of growth in spending many years in the future. Apparently, it will be much easier to cut then when our deficits are far higher.
 
Quote from seneca_roman:

IMO, this is based on the false premise that a balanced budget can not be reached without raising taxes as President Obama is constantly reminding us.

Seneca
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Of course you can balance a budget by only working one side. If I'm out of work I can stay out of debt by not buying anything. Anything at all. Sticking to this principle should make my family, who rely on me, very proud.
 
I thought this kind of puts things in perspective. In 2010, the US government collected $898 billion in federal income tax revenues. The same year, we spent $847 billion on useless wars and national defense. That means that 94% of all federal income tax revenue is equivalent to what we spend on the Pentagon. Who out there thinks it was money well spent? Also, just to piss you off a little bit more – defense spending is equivalent to 443% of what we collect in total corporate taxes.


http://www.wealthson.com/1540/94-of-us-tax-revenue-is-spent-on-war-and-defense
 
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