Americans Favor Letting Tax Cuts for Wealthy Expire
The newest Gallup poll shows that a majority of Americans favor allowing tax cuts for the wealthy to expire.
With about one in three Americans, including a minority of independents and Democrats, in favor of extending the Bush-era tax cuts for all taxpayers, Democrats may not be putting themselves at great political risk by allowing the tax cuts to expire for wealthy Americans. In fact, the middle ground of extending tax cuts for low- and middle-income Americans but allowing them to expire for wealthy Americans — the Democrats’ most likely proposal — is the specific option the public prefers most.
Gallup has typically found Americans unsympathetic to the argument that upper-income Americans are overtaxed. They generally believe upper-income Americans pay too little in taxes and favor higher taxes on wealthy Americans as a means to fund government programs, such as Social Security.