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Voters Favor Extending Tax Cuts for Everyone
In an article published by the Washington Post this week, reporter Chris Cillizza commented on the percentage of voters who favor a tax increase on incomes over $250,000.
Cillizza writes that Democrats have publicly proclaimed their willingness to jump off the fiscal cliff this year in defiance of Republicans refusal to end tax cuts for those making over $250,000, and that "the public is on their side."
However, according to a recent McClatchy-Marist poll it is clear this is not the case. As evidenced by the poll results, the majority of voters support extending tax cuts for everyone, including those making over $250,000:
- 52% of voters polled were in favor of extending the tax cuts for everyone; and
- 53% of independent voters polled favored extending tax cuts for everyone.
Additionally, Marist University polled voters based on household income, education, race, and age:
- 53% of voters making less than $50,000 were in favor of extending tax cuts for everyone;
- 58% of voters with no post secondary education favored extending tax cuts for everyone;
- 62% of Latino voters polled favored extending tax cuts for everyone; and
- 69% of voters polled between the ages of 18-29 supported extending tax cuts for everyone.
The voter sentiment in the McClatchy-Marist poll is echoed in a study released last week by Ernst & Young. The study found that not extending tax cuts for those making over $250,000 "would translate into a decline in GDP of $200 billion and employment by roughly 710,000 jobs."
It is obvious from recent polling that a strong majority of voters favor extending all tax cuts, including those for persons earning over $250,000.