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Sunday, May 2, 2010

Survey Indicates Majority Not Willing to Reduce Deficits with Higher Taxes

A Rasmussen survey of 1,000 adults conducted at the end of April found that to address the deficit:

  • 18% are willing to pay higher taxes
  • 69% are not willing to pay higher taxes
  • 13% are not sure

Men and Democrats are more willing to pay higher taxes than the total survey population.

So, a majority prefer spending cuts. I wonder what the poll results would be if the spending cuts on the table included such things as:

  • shorter unemployment payment periods
  • no COBRA subsidy
  • no deduction for interest on home equity debt
  • no deduction for interest on a second home
  • no deduction for state and local taxes
  • repeal or reduction of the child credit

I just list the above because I don't think people think of such spending when the word spending it used. It would be nice to hear about the type of spending people think should be cut. Unfortunately, without budget reform, one item of spending that grows is interest on the national debt.

President Obama's National Commission on Fiscal Responsibility and Reform certainly has a challenging task before it and probably isn't surprised by the survey results.

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