AP-GfK Survey: Most Back Obama Plan To Raise Financial Investment Taxes

by Admin
Categories: Taxes
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Those are the outcomes of an Associated Press-GfK poll that found most individualsmany people in the United States support President Barack Obamas proposition to raise investment taxes on high-income families.The findings echo the populist messages of two liberal senators #x 2013; Elizabeth Warren of Massachusetts and Bernie Sanders of Vermont #x 2013; being courted by the progressive wing of the Democratic Party to run for president in 2016. The outcomes also add weight to Obamas brand-new push to raise taxes on the rich and utilize some of the earnings to reduce taxes on the middle class.Obama calls his method middle-class economics.Its not flying with Republicans in Congress, who oppose higher taxes.But Bob Montgomery of Martinsville, Virginia, stated individuals with greater incomes must pay more.I believe the more you make the more taxes

you ought to pay, said Montgomery, who is retired after working 40 years at a car dealer.

I cant see where a man makes$50,000 a year pays as much taxes as somebody that makes $300,000 a year.According to the poll, 68 percent of those questioned said rich families pay too little in federal taxes; only 11 percent stated the rich pay too

much.Also, 60 percent stated middle-class families pay too much in federal taxes, while 7 percent said they paid too little.Obama set out a series of tax proposals as part of his 2016 spending plan released this month. Couple of are most likely to win approval in the Republican-controlled Congress. But if fellow Democrats were to welcome his concepts, they might play a rolecontribute in the 2016 race.One proposal would increase capital gains taxes on families making more than$ 500,000. In the study, 56 percent preferred the proposition, while just 16 percent opposed it.Democrats, at 71 percent, were the most likely to support raising taxes

on capital gains. Amongst Republicans and independents, 46 percent supported it.Obamas other tax strategies didnt fare as well.About 27 percent stated they preferred making estates pay capital gains taxes on assets when they are inherited, and 36 percent opposed it.Just 19 percent stated they supported the presidents aborted strategy to downsize the tax benefits of popular college savings strategies, 529 accounts, called after an area in federal tax law. Obama took out the proposition after Republicans and some Democrats in Congress opposed it.

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