Should taxes on millionaires be boosted?
September 19th, 2011
09:52 AM ET
11 years ago

Should taxes on millionaires be boosted?

Washington (CNN) - Is increasing taxes on the wealthiest Americans to lower the nation's deficit a good idea?

President Barack Obama thinks so. Monday morning he'll head to the Rose Garden at the White House to present his plan to reduce America's deficit. His proposals include raising taxes on people who make more than $1 million a year. Republicans say it's a bad idea, but billionaire Warren Buffett has said the rich don't pay their fair share of taxes.

So what do Americans think?

According to a CNN/ORC International Poll conducted last month, 63 percent of the public said they were OK with any deficit reduction bill passed by Congress that included increased taxes on higher-income Americans and businesses, with 36 percent opposed to the idea. The national survey also indicated a wide partisan divide, with eight in ten Democrats supporting an increase in taxes and six in ten Republicans opposed. Sixty-two percent of independent voters supported boosting taxes on higher-income Americans and businesses, with 37 percent opposed.

The CNN/ORC poll was conducted in early August, right after the congressional agreement to create a bipartisan "super committee" to lower the nation's massive budget deficit. While the survey is six weeks old, there have been few intervening events since then to dramatically alter opinions on the issue.

- CNN Deputy Political Director Paul Steinhauser contributed to this report.

Filed under: Polls • President Obama • Taxes
soundoff (56 Responses)
  1. closetiguana

    These people create jobs, well they create jobs overseas but they still create jobs.

    September 19, 2011 11:08 am at 11:08 am |
  2. Ms. Joi

    It is about time that people started to realize the only people really getting a break right now are the billion and millionaires. Yes increase their taxes they can afford it and then some, all those private villas, yachts, and jets they have paying higher taxes means nothing to them its all just a game. Raise taxes on the millionaires, GO OABAMA!!! DON'T PUNK OUT THIS TIME EITHER BECAUSE STUPID TEA PARTY REPUBLICANS DON'T WANT TO UPSET THEIR FRIENDS.

    September 19, 2011 11:12 am at 11:12 am |
  3. AZ DEM

    If anyone can afford a higher rate its millionaires and billionaires. As far as all other tax payers go we need to go back to the Clinton levels and let the Bush tax cuts expire as politically damning as it could have been Obama should have let them expire the end of last year. Had he traded that for the deal that they made or even got the debt ceiling raised THEN he would be sitting a lot better in the polls and public opinion but he is FINALLY leading in Washington and if the Republicans and even Dems in Congress choose not to follow then we will have it out in 2012.

    September 19, 2011 11:23 am at 11:23 am |
  4. REG in AZ

    As is typical they are bold, arrogant and stubborn and it is completely amazing that they can do it with a straight face because their argument is really neither reasonable nor honest. The Bush Tax Cuts were extremely weighted in favor of the very wealthy and were like that multiple times. To now “cry foul” and say Obama is picking on the wealthy instead of just going back to a previously more realistic status, is not only ridiculous but it is actually attempting to be, once again, obnoxiously manipulative. The Republicans, Tea Party included, have continually drastically favored the wealthy, their strong supporters who dictate to them, and just as constantly they have taken the majority for granted while giving them nothing but subterfuge to rationalize and con. It isn’t Obama who is waging “class warfare”, it is the Republicans who have consistently pushed “class favoritism” for the wealthy and “class neglect” for everyone else, especially the total middle-class. And it should be vividly remember that Bush-Cheney, with their actions, proved beyond any doubt that the “trickle down” theory is a complete fraud that only makes the wealthy wealthier and is intended to solicit political support. It would be refreshing to see the Republicans honestly seek fairness instead of just always deceptively rationalizing favoritism. The reality is that Obama’s efforts are not stalling the economy but the Republican’s are as they totally focus on their political ambitions at any cost to the people. Lets cut the BS, get real and deny rewarding those who arrogantly and consistently block and fault all efforts to solve the problems.

    September 19, 2011 11:24 am at 11:24 am |
  5. rs

    Anyone with an once of memory needs to be reminded Bush's tax cuts for the rich were meant to be temporay. They were designed to cut the SURPLUS Clinton handed him and "give people back their money". Well, the Bush tax cuts did that many many, years ago. Owing to Bush's (cut taxes) and (raise) spending philosophy we now have a huge defict that Republicans want the poor and middle classes to pay of. NOT HAPPENING!. Time to put some of the tax burden back on those who can afford it and won't be hurt by it.

    September 19, 2011 11:24 am at 11:24 am |
  6. Rudy NYC

    John K. wrote:
    Obama wants to raise taxes as we appear to be going back in to a recession.
    Is he insane or just incompetent?
    Study history. It was draconian budget cutting by conservatives that sent the country into The Great Depression after the crash of '29. It appears the greedy-ology still prevails amongst conservatives to this day. (If there are fewer dollars to give away, make sure that you and your friends get the biggest slice of them, especially but cutting into other slices as much as you can until you own all of the slices.)

    September 19, 2011 11:27 am at 11:27 am |
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