Americans Reject Soaking The Rich
May 21, 2001
Opponents of the tax bill may be seriously misjudging the American people's support for income redistribution and soaking the rich, says Bruce Bartlett.
In a new poll from Rasmussen Research for the Club for Growth, a pro-tax cut group, registered voters were asked what is the top federal income tax rate that ought to be paid by someone with an income of $1 million on each additional dollar he earns -- that is, what should the top marginal income tax rate be?
- Twenty percent said the top rate should only be 10 percent, 22 percent said it should be 20 percent and 19 percent said 25 percent (see figure).
- Thus 3 out of 5 Americans actually favor a lower top rate than that proposed by Bush.
- Better than 4 out of 5 favor a top rate no higher than 33 percent.
This suggests that opposing a cut in the top rate may not be the political winner many Democrats believe it to be.
Source: Bruce Bartlett, senior fellow, National Center for Policy Analysis, May 21, 2001.
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