‘Wealthy do not pay enough taxes in US’

Rate this story
(0 votes)
Barack Obama (AFP) Barack Obama (AFP)

The wealthy aren’t paying enough in federal taxes.So said 68 percent of respondents to a new Associated Press-GfK poll. Sixty percent of respondents also said that the middle class is paying too much in federal taxes, and 41 percent held that belief about low-income households.

President Obama outlined last month a proposal to raise the capital gains tax on those with incomes over $500,000.  A majority of poll respondents—56 percent—said they were in favor of such a proposal.

Obama’s plan was to increase the capital gains tax rate to 28 percent—the rate they were set at under President Reagan— which Dave Johnson of Campaign for America’s Future described as “a huge step in the right direction.”

Widespread support for the plan makes sense, as the majority of Americans see inequality as growing, and a previous study found capital gains to be the biggest contributor to income inequality.

Copyrights protected: All the content on this website is copyright protected and can be reproduced only by giving the due courtesy to' Copyright © 2011 Rivira Media Corporation Ltd., 742, Maradana Road,Colombo 10, Sri Lanka. Web Solution By Mithila Kumara | All rights reserved.