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Subscribe to RSSThe majority of wealthy Americans agree with raising taxes on very rich people like Warren Buffett, but they're less enthusiastic about raising taxes on other six-figure earners.
A little less than a quarter of wealthy Americans support raising taxes on households that earn $250,000 or more per year, according to a new survey from Harrison Group and American Express Publishing Corp.
But nearly half said the income tax rate should be raised for people who make more than $500,000 a year.
In addition, about 65 percent were in favor of the “Buffett Rule,” which calls for income tax increases on those who make more than $1 million a year.
The two companies surveyed about 800 people in September who have discretionary income of $100,000 to more than $1 million per year.
About four in 10 of those surveyed believed tax increases would improve the overall economy.
The general population is much more supportive of raising taxes on all wealthier Americans. A Gallup poll released last month found that two-thirds of Americans favored raising income taxes for individuals making more than $200,000 a year and families earning more than $250,000 annually.
President Barack Obama has called for increasing taxes on the nation’s wealthiest people as one way to deal with the nation’s bulging budget deficit.
Related:
Most Americans say go ahead, tax the rich more
Buffett touches a nerve with plea for more taxes
Leave a Comment:
If you stop the nation building and attacking defenseless countries, I am sure we can take care of the needy citizens in this country, damn the greedy for they are the downfall of this great planet.
The federal government does not have an income problem.
It has a spending problem. Too many have their hand out
for government programs. A large percentage believes
they are entitled to our tax money. The Social Security system
would be in great shape if Congress had kept their hands out of
it and allowed it to go on as originally planned.
Exactly!
Here..Here! :) I'm with you, give the government more money and they will find a way to spend it to save a weed growing in New Mexico because a cow prefers it. Curb spending and let the extremely weathly pay some more tax. I would prefer a long term goal of running our government more profitably, I would kill to see a businessman in control of our government. But no one with any common sense would sit with those bufoons that reside in office now...I'm talking Dems and Reps. Two useless (but for their own goals and egos!) parties with no real concept of what it's like to actually have a budget.
If you make $250,000 just by spending part of it
you create jobs.
Raise taxes on the very wealthy only if the money is used for debt reduction. No more new spending and they need to eliminate waste.
We don't have to raise taxes; we don't need to float a multimillion dollar budget to increase tax collection. If the rich like Buffet want to help the address for the Treasury Department is on their website, just write a check and send it in! There is nothing stopping anyone from doing this.
SSA tax increases should have some relation to disposable income and area cost of living.
As to SSA and other COL adjustments, remember that the COL formula currently used is inaccurate, and does not reflect the true increases, since many things are deliberately left out of the formula. Plus, SSA was revised downwards years ago, when those that never contributed a dime were still alive, and collecting SSA. The problem was made more immediate at the time by the retirement of the pre-baby boom WWII generation. Then the government came up with a scheme that obligates the general fund to be responsible for any make up to be made in SSA payments. Due to the way the government and the politicians behaved between then and now, the obligation is looming on the horizon. When you borrow money, eventually it must be paid back.