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Poll: 60% support tax hikes on people who earn more than $250,000

Even 39 percent of Republicans support raising taxes on households making more than $250,000. Independents favor such a move by 21 percentage points, 59 to 38 percent.

Only 38 percent buy the GOP argument that raising taxes on households earning over $250,000 per year will have a negative impact on the economy. Fifty-eight percent do not…

According to the poll — taken from from Dec. 2 to Dec. 6 — 69 percent of respondents oppose raising taxes on small businesses that earn more than $250,000 — a group that the GOP is trying to protect with its push to extend the Bush tax cuts.

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Oops, that was fast!

Democrats thought they could hammer “the rich” by convincing voters to pass Proposition 30 to create the highest state income tax in the nation. But it now appears that high income earners have already “voted with their feet” by moving themselves and their businesses out of state, resulting in over $1 billion shortfall in corporate and income taxes last month and the beginning of a new financial crisis.

slickwillie2001 on December 10, 2012 at 2:03 PM

Are you one of those who can’t answer a simple question?

Galt2009 on December 10, 2012 at 1:52 PM

If by “achievement” you mean income, which is what your question implies, no, I do not believe a higher marginal tax rate for income over $250,000 will deter such “achievement.” Why would it? If I earn an extra $100,000 and it is taxed at the top Clinton rate of 39.6 percent rather than the current rate of 35%, I keep $60,400 rather than $65,000. Either way, earning a higher pre-tax income leaves me with higher after tax income. The $4,600 difference in tax paid is not going to induce me to give up the $60,400 in extra income I would keep.

cam2 on December 10, 2012 at 2:04 PM

Are you one of those who can’t answer a simple question?

Galt2009 on December 10, 2012 at 1:52 PM

If by “achievement” you mean income, which is what your question implies, no, I do not believe a higher marginal tax rate for income over $250,000 will deter such “achievement.” Why would it? If I earn an extra $100,000 and it is taxed at the top Clinton rate of 39.6 percent rather than the current rate of 35%, I keep $60,400 rather than $65,000. Either way, earning a higher pre-tax income leaves me with higher after tax income. The $4,600 difference in tax paid is not going to induce me to give up the $60,400 in extra income I would keep.

cam2 on December 10, 2012 at 2:04 PM

I mean the actions to attain that income.

But run this out to illustrate the point.

Would you still work if the government took 100% of what you made?

Galt2009 on December 10, 2012 at 2:09 PM

cam2 on December 10, 2012 at 2:04 PM

Helloooo!

Would you still work if the government took 100% of what you made?

Galt2009 on December 10, 2012 at 2:19 PM

Would you still work if the government took 100% of what you made?

Galt2009 on December 10, 2012 at 2:09 PM

Of course not, but no one is proposing that, are they? They are proposing an adjustment of a few points only on that portion of income over $250,000. Given that the deficit and debt need to be addressed, and that addressing them solely by budget cuts is not favored even by the vast majority of conservatives, some tax revenues need to be raised. This seems to me the best way of raising some revenue while avoiding cuts that would harm the most needy. What’s your plan?

cam2 on December 10, 2012 at 2:23 PM

Would you still work if the government took 100% of what you made?

Galt2009 on December 10, 2012 at 2:09 PM

Of course not,
cam2 on December 10, 2012 at 2:23 PM

The simple mathematics of the matter forgo a discontinuity between the rates as they stand now and 100%.

Okay, then you agreeing that at some point high taxes have a negative effect, correct?

Galt2009 on December 10, 2012 at 2:35 PM

Okay, then you‘re agreeing that at some point high taxes have a negative effect, correct?

Galt2009 on December 10, 2012 at 2:49 PM

Galt2009 on December 10, 2012 at 2:49 PM

Sorry, had to drive a batch of kids all over town. With regard to your question, look, of course there is some level at which taxes become so confiscatory that working becomes unattractive. However, we are not close to that point yet and, given the real need to start paying down our debt, this is the best plan I can think of. I note that you did not provide any alternative ideas. Nevertheless, I do appreciate your willingness to engage on the issue without (too much) acrimony.

cam2 on December 10, 2012 at 4:32 PM

Galt2009 on December 10, 2012 at 2:49 PM

With regard to your question, look, of course there is some level at which taxes become so confiscatory that working becomes unattractive.

Before that its disincentive to work – and a drag on the Obamaeconomy.

However, we are not close to that point yet

Really? How do you know that?

I note that you did not provide any alternative ideas.

cam2 on December 10, 2012 at 4:32 PM

I note that you attempted to distract for the main issue since you were losing the argument.

The alternative is to stop trying to redistribute the wealth – how about that?

Tell me, how any people will be helped with you much vaunted socialist programs when the country goes bankrupt?

I also note you have yet to answer about your sending all of you earning into the IRS – what’s the matter, don’t want to put your money were your mouth is?

Galt2009 on December 10, 2012 at 5:22 PM

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