financial chartThe Emerson College Polling Society (EPCS) released its most recent poll suggesting 43 percent of Americans feel that spending cuts and tax hikes are necessary in order to solve the fiscal cliff. A further 37 percent feel that spending cuts alone are the best way to manage the deficit while 8 percent think increased tax rates are the sole solution. Alternatively, raising federal revenue without cutting spending was not significantly supported.

“Our data suggests that Americans want a compromise between tax increases and spending cuts: a solution of every five dollars in spending cuts, for every one dollar in tax increases is a popular compromise for the country to avoid going over the fiscal cliff,” said ECPS President Grey VanDeMark.

Rallied behind Grover Norquist, president of Americans for Tax Reform, the GOP have avoided approaching compromise involving budgets with tax increases but Americans, in general are unsupportive of the stance. The poll found that only 20 percent of Americans favor the anti-tax position. Even Republican support is dropping with 42 percent agreeing with the stance, 35 percent in agreement with increased taxes on the wealthy, and 23 percent unsure of their stance. Two thirds of Independents and 83 percent of Democrats feel that tax increases on the wealthy should figure prominently in the fiscal negotiations to avoid the impending fiscal cliff set to arrive in January.

 



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