Americans Want Lower Taxes
According to a new poll from The Hill, the vast majority of likely voters want lower taxes – even for corporations and top earners.
A whopping 75% think top earners should pay a tax rate of 30% or less. Currently, the top tax bracket has a tax rate of 35% and is scheduled to go up significantly. This is significant because for all of President Obama’s tax talk of paying a “fair share” he – and no one in his party for that matter – has been able to define “fair share.”
Three-quarters of Americans believe that “fair share” is at an even lower rate than they pay today. Just 4% of voters thought that the top tax earners should pay 40% of their income to the federal government, which is the level President Obama and the left claim they want (even though when all of the President’s tax increases are accounted for, that rate would be even higher, especially for those earning income from investment).
What’s really funny is the Occupy crowd, which supposedly made up the 99%, apparently only speak for 4%.
Seventy-three percent of Americans want corporations to pay less than the current rate of 35%. To be fair, President Obama’s corporate tax plan would lower rates to 28%, but the details actually reveal an increase in taxes for those who are not politically connected.
While other polls have found that Americans want to raise taxes on those earning more than $250,000 (regardless of what state they live in and how far $250,000 would actually go in that state), the Hill poll specifically asked people what rate people should pay, and the answers change.
That’s most likely because a lot of Americans don’t know what the tax rates are. The President, Warren Buffett and the liberal media would like you to believe that the wealthy pay far lower taxes than the rest of Americans. They want you to believe that millionaires and billionaires pay about 15% of their income, while secretaries pay over 30%.
That is blatant political spin. The top 1% already pay about 40% of the nation’s tax burden, while the bottom 50% pay no income taxes whatsoever. Soaking the rich is a strategy the left uses in order to gain favor with those who want a government handout.
The President’s plan to hike taxes on industries he doesn’t like and create more loopholes for industries he does like further muddies our tax code. Instead, he should make the tax code flat and fair by lowering the rates for all corporations and removing all loopholes, credits and deductions.
For individuals, a flat tax is the only true way to achieve fairness. If everyone pays the same percentage of their income, then everyone is paying their “fair share.”