Should We Raise Taxes on the Wealthy to Avoid?
Negotiations between President Obama and the Republican-led House of Representatives over the “fiscal cliff” are heating up. Some economists believe if a compromise isn’t made by December 31 of this year, the U.S. economy could fall back into recession.
A big sticking point in the discussion is whether or not the Bush tax cuts on income over $250,000 should be allowed to expire, effectively raising the taxes of wealthier Americans. Obama favors this approach, Republicans oppose it.
According to a survey from the Pew Research Center of 1,511 registered voters, 64 percent approve raising taxes on income above $250,000. Twenty-nine percent disapprove, and 7 percent weren’t sure.