New Poll: Americans seriously doubt higher taxes will actually go towards deficit reduction
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NEW POLL: AMERICANS SERIOUSLY DOUBT HIGHER TAXES WILL ACTUALLY GO TOWARDS DEFICIT REDUCTION
Best Way To Improve The Economy Is To Stop Spending So Much
Arlington, Va. – Public Notice today released the results of a national survey of 1,022 registered “likely voters” conducted by the Tarrance Group via telephone Oct. 1-4, 2012, with a margin of error of +/- 3.1 percent on two key questions on government spending and the economy that have dominated the national debate in recent months.
Many candidates, including President Obama, have made the case that a “balanced approach” that includes tax increases is the best way to reduce the deficit:
President Obama on Face The Nation: “And if we go back to the tax rates for folks making more than $250,000 a year … we can close the deficit, stabilize the economy, keep taxes on middle class families low, [and] provide the certainty that I think all of us would be looking for.” (CBS, Obama won’t compromise “balanced approach” on budget, despite gridlock, 9/9/12)
Despite those claims, however, our poll finds that a significant majority of likely voters believe that higher taxes would NOT go towards deficit reduction (57%), but would rather be used to fund additional spending programs. At the same time, by a margin of more than 3-to-1, voters (77%) do not think increasing government spending would improve the economy, with an overwhelming 70% saying less spending is needed. So while most Americans would like to see Washington spend less, few have confidence that President Obama will actually deliver on that promise.
Gretchen Hamel, executive director of Public Notice, issued the following statement regarding the poll:
“These poll results show that Washington’s reckless spending isn’t just hurting the economy, it’s also hurting their credibility. Politicians make all sorts of promises on the campaign trail, but when it comes to reducing the deficit, voters aren’t buying it—and neither are we. We’ve seen four straight years of trillion dollar deficits, why would Americans give Washington another dime until they show they can spend the first one wisely? ”
Key Findings:
· New survey data shows voters believe President Obama would use any new revenue from a possible tax increase to increase spending on government programs, while voters also believe that less government spending would do the most to grow the economy over the next four years.
· If a tax increase were to go into effect, a majority of men (61%), women (53%), and Independents (60%) say President Obama would use the additional money raised from the tax increase to increase spending on government programs. Democrats (58%) are the only partisan group to believe President Obama would use additional revenue to help pay down the debt and deficit.
· Nearly three quarters (73%) of men and two thirds (67%) of women say less spending would do the most to grow the economy over the next four years. Nine in ten (91%) Republicans, three quarters (75%) of Independents, and a plurality (48%) of Democrats also say less government spending would be most helpful to the economy.
· Other key groups believing less spending would be most helpful to the economy: union households (66%), married women (74%), self-identified low income voters (67%), middle class families (76%), and Hispanics (64%).
Click here to read the full memo.
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Public Notice is an independent, nonpartisan, non-profit, 501(c)(4) organization dedicated to providing the facts and insights on the effects public policy has on Americans’ financial well-being.
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