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Go Home Populism and the Deficit

JONATHAN CHAIT MARCH 29, 2010

Populism and the Deficit

Quinnipiac has a new poll out on the deficit. The results may not surprise. By more than a three-to-one margin, the public opposes "cutting the growth of spending" on Medicare or Social Security benefits, or any tax increase on the middle class. What specific measure do they support? Raising taxes on the rich. 60% of the public says we should raises taxes on households earning more than $250,000 a year. 72% want to raise taxes on households earning more than $1 million.

Interestingly, 42% of Republicans favor a tax hike on $250,000 households, and 56% of them favor a tax hike on households earning over a million. But zero percent of Republican elected officials in Washington favor this approach. Indeed, the Republican Party's current plans all involve large tax cuts for high-income households.

I'm certainly not defending public opinion on the deficit. Mathematically, raising taxes on the rich isn't going to do enough. There will have to be entitlement cuts. It's just striking how far to the right the elite consensus is on this issue vis a vis public opinion.

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And there's the rub: "Don't cut me, don't cut me, cut the man behind the tree.". Ask where else to cut, and you'll hear "waste fraud and abuse". After that's been cut, where do you go for the remaining, oh, $950B? What is pitiful is we were in pretty good shape in 2000 when Bill Clinton left office. My, how 8 years of "change" can affect things.

- tnmats

March 29, 2010 at 4:00pm

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Amazing what a liar/lazy with facts/mooonbat cheerleader Chait has become. Only 12% of respondents want increased taxes, but Chait spins as out of touch republicans. What an idiot. Read for yourselves: The poll finds that 84% of Americans think the middle class will have to make financial sacrifices to reduce the red ink. But more than three quarters of Americans oppose raising income taxes on the middle class or limiting the future growth of Social Security and Medicare benefits. Instead, 49% of voters – and 54% of independents – want all budget reductions accomplished through cuts in government spending. Another 42% favor a combination of spending cuts and tax increases. Only 4% favor tax increases alone. If Washington decides on a combination of spending cuts and tax increases, 52% of all Americans favor the balance to be weighted toward spending cuts, while only 29% want an equal amount of spending cuts and taxes. Only 12% want the balance weighted toward tax increases ** Nothing like Chaits post.

- mr_rationale

March 29, 2010 at 4:27pm

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Geeze, Mr. R., talk about dishonest. They oppose raising taxes on THEMSELVES. By your own statement, 46% say that reducing the deficit should include tax raises. here's the link. 60% wanting more taxes on $250K or more is item 49. 72% on millionaires is item 50. Scroll to the bottom and you'll see. http://www.quinnipiac.edu/x1295.xml?ReleaseID=1438

- miceelf

March 29, 2010 at 4:33pm

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It's important to remember that Republican elites think they are raising revenues by cutting taxes to the rich. The technical term for this theory is The Fifth Stage of Tequila (after 1. I'm rich, 2. I'm good looking, 3. I'm bullet-proof, 4. I'm invisible).

- Fishpeddler

March 29, 2010 at 4:36pm

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Hard to believe -- you mean the same Republican officials who rationalize the healthcare brick-throwers and death-threaters as an understandable response to the failure of Democrats to heed the voice of the people as expressed in some public opinion polls, will be unmoved by the polling on this question of progressive taxation? I guess populism has its limits. Neil

- purcellneil

March 29, 2010 at 5:20pm

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Mr rationale agrees with his neighbor who went to public schools before joining the military. He went to college on the G.I. Bill, bought his first home through the FHA, and received his health care through the V.A. and Medicare. He now receives Social Security. He's a conservative because he wants to get the government off his back.

- drofnats1

March 29, 2010 at 6:09pm

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Not much comment in TNR about the end (finally!) of the government borrowing from low to middle income folks to pay for . . . . whatever the US government chooses to fund, from wars and bank bail-outs (the biggies) to education and improved public facilites (the also rans). In some quarters this was treated as judgment day, the end of the free-ride for all those low to middle income folks. Now square that circle.

- raylward

March 29, 2010 at 6:31pm

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