(09/30/11) -

Most Americans Back Obama’s Plan to Tax High Income Earners

However, only one-in-five respondents think the national unemployment rate will drop in the next 12 months.

U.S. President Barack Obama’s proposal to establish a new tax for high income earners is supported by two thirds of Americans, a new Angus Reid Public Opinion poll has found.

The online survey of a representative national sample of 1,020 American adults also shows that only one-in-five respondents expect to see the country’s unemployment rate drop over the next 12 months.

Tax Proposal

President Obama has proposed establishing a minimum tax on Americans who earn an annual income of at least 1 million dollars. Some people think this is a good idea, because the new tax would prevent high income earners from benefitting from lower tax rates on investment earnings than the rates middle income taxpayers pay on their wages. Other people think this is a bad idea, because it is detrimental to have a new tax for high income earners because they create new jobs in America.

Across the country, 66 per cent of respondents support Obama’s plan, while 23 per cent oppose it. The highest level of support comes from people in the Northeast and Midwest (71% each). Democrats overwhelmingly back the President’s proposal (87%), along with two thirds of Independents (68%). Republicans are divided, and almost half (48%) oppose the plan. It is important to note that a majority of respondents in the highest income bracket (64%) also support the proposal.

Unemployment Rate

Only 20 per cent of Americans expect the country’s unemployment rate—currently at 9.1 per cent—to drop in the next 12 months, while one third (33%) expect it to remain the same and a slightly higher proportion (37%) believes it will climb even higher. Respondents in the South (43%) and Republicans (47%) are particularly pessimistic in their assessment.

Analysis

Obama’s controversial proposal to create a new tax on high income earners is definitely backed by Democrats. Also, a sizeable proportion of Independents agree with the president’s view, a fact that could play a key role in the months leading up to the 2012 election. While Republicans are not thrilled with the plan, they are not completely against it. In fact, two-in-five Republicans favor the new tax, a level of support that is seldom espoused by this group for ideas proposed by the current head of state.

Full Report, Detailed Tables and Methodology (PDF)

CONTACT:

Mario Canseco, Vice President, Angus Reid Public Opinion
+877 730 3570
mario.canseco@angus-reid.com

Methodology: From September 21 to September 22, 2011, Angus Reid Public Opinion conducted an online survey among 1,020 American adults who are Springboard America panelists. The margin of error—which measures sampling variability—is +/- 3.1%. The results have been statistically weighted according to the most current education, age, gender and region Census data to ensure a sample representative of the entire adult population of the United States. Discrepancies in or between totals are due to rounding.