60% of independents say they are over-taxed, according to a new Gallup survey.
56% of Americans overall say they are over-taxed.
Only 4% say they are under-taxed.
And yet Kamala Harris vows to impose a long list of tax increases totaling $5 trillion over the next ten years.
Harris’s tax increase proposals include:
-“elimination” of the Trump tax cuts. Such elimination would raise income taxes across the board. Harris has vowed repeatedly to repeal TCJA and has never retracted these statements.
-raise USA corporate tax rate by 33% (from the current Trump rate of 21% up to the Kamala rate of 28%). Workers, households, and retirees bear the burden of the corporate income tax.
-raise USA corporate tax rate higher than China’s 25%.
-raise federal capital gains tax to 33%. This is higher than China’s 20%.
-impose the Death Tax on more Americans.
-impose a second Death Tax: at death, assets will be treated as “sold” in order to trigger a forced capital gains realization.
-carbon tax.
-multiple energy tax increases.
-yoking USA to onerous European tax systems.
-further supersizing of the IRS.
The Gallup Economy and Personal Finance survey provides insights into public sentiment around taxes.
Here are some additional key findings:
Gallup’s survey “asked Americans to name the most important financial problem facing their family.”
36% said taxes are “extremely important” to their vote. This shows a moderate upward trend of importance assigned to taxes since the previous presidential elections of 2016 or 2020.
Another poll conducted by Pew Research earlier in the year found that “38% of Americans say the amount they pay in federal taxes bothers them a lot.”
So, it’s clear that Americans are concerned about the reality of their tax burden. If that was not evidence enough, Gallup continued to ask the public about their tax situations.
Americans were asked: Do you consider the amount of federal income tax you have to pay as too high, about right, or too low?
The Gallup polls “showed that 56% of Americans say their federal taxes are “too high.” Not surprisingly, very few Americans state that their taxes are “too low,” totaling only 4%.
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