Friday, April 8, 2011
Are We Overtaxed?
The question often comes up: Are the American people overtaxed? Well the answer, according to the American people themselves, is yes. In a new poll by Rasmussen Reports, 64 percent of Americans believe that the people are overtaxed. The poll reiterates 2010 findings that a majority of the American people feel that they are overtaxed.
The Report has written many times before about taxes. We've written about how fewer than one in five Americans want taxes to go up. We've also written about how President Obama has talked about using supply-side economic theory to actually generate more revenue for the government with lower taxes.
Unfortunately, it seems that all the talk has yet to amount to any actual tax reform or tax cuts. Could President Obama be holding off on pushing tax cuts until just before November 2012 with the hopes of gaining back the independent voters and the Obama Republicans? Many independents and even some Republicans voted for President Obama enabling his 2008 victory of Sen. John McCain. However, the President's support with independents and Republicans has fallen. Many who voted for him now regret that decision, and without their support he cannot win in 2012.