Skip to comments.The Hill Poll: Voters say wealth is now an impossible dream
Posted on 07/16/2012 9:01:40 AM PDT by LucianOfSamasota
Nearly half (47 percent) of likely voters believe it is impossible for them to become wealthy in the course of their lifetime, according to a new poll for The Hill.
The survey, conducted as the heated political presidential campaign increases acrimony over the interests of the haves and the have-nots, found that fewer than 2-in-5 likely voters (37 percent) think they can ever become rich.
The findings suggest pessimism about the possibility of upward mobility as economic growth remains weak and jobs scarce.
President Obama and the Democratic Party are targeting families earning $250,000 or more for higher taxes and Republicans accuse them of fomenting class warfare.
In the context of that debate, likely voters were asked what income level would make a family wealthy.
Almost 40 percent of people said that threshold was reached at a minimum $500,000 of annual income. Nineteen percent set the wealthy level at $500,000 and 20 percent put the bar above $1 million.
By contrast, 31 percent of people said a family earning $250,000 a year is wealthy, 19 percent said $100,000 was the threshold, and 7 percent said $50,000.
(Excerpt) Read more at thehill.com ...
Lets not hold the vast majority of Americans and our economy hostage while we debate the merits of another tax cut for the wealthy, Obama said.
GOP leaders in Congress propose extending current tax rates for everyone, saying the presidents plan would be a job-killer for small business owners who file individual tax returns.
The Hills poll found likely voters support Obamas $250,000-a-year threshold, although by a relatively narrow margin.
Forty-seven percent said existing tax rates should be extended only for families earning less than $250,000, while 41 percent believe they should be extended for everyone.
Six-in-10 voters who identified as conservatives favored keeping the Bush-era rates for all while 73 percent of liberals want the rates extended only for households with an income of less than $250,000.
The poll, conducted by Pulse Opinion Research among 1,000 likely voters, has a 3 percentage point margin of error.
It shows voters trust Republicans and GOP candidate Mitt Romney more on taxes than Democrats and Obama, even though they support the presidents quarter-million dollar cut-off.
Asked which political party people trust more on taxes, 43 percent said Republicans and 36 percent said Democrats; 46 percent said they trusted Romney more while 42 percent believed Obama is more trustworthy on taxes.
Views diverged based on income levels, with voters earning between $40,000 and $75,000 strongly preferring Romney over Obama.
Among people earning between $40,000 and $60,000, 48 percent trust Romney more compared to 39 percent for Obama. People earning between $60,000 and $75,000 trust Romney more than Obama by a 34-point margin, 61 percent to 27 percent.
The president polled better among voters earning more than $100,000, with 51 percent saying they trusted him and 44 percent preferring Romney on taxes.
The poll also found a sharp generational split, with older voters far more likely to believe Romney is more trustworthy on taxes. Among people aged 65 and over, 52 percent trust Romney more and 37 percent trust Obama.
There was a statistical tie between Obama and Romney among voters aged 18-39 and those aged 40-64.
Obama says allowing tax rates to rise for higher-income earners is a matter of fairness, as is his call for a surtax on people earning more than $1 million.
Republicans says the president is trying to win reelection by demonizing success.
Rep. Paul Ryan (R-Wis.), chairman of the House Budget Committee, has said Obama is promoting fear, envy and anxiety, and told Fox News last week: He wants to divide the country in order to distract the country to try and win the election.
According to the U.S. Census Bureau, the median household income in the United States was $51,914 between 2006 and 2010. The Internal Revenue Service, in statistics from the 2009 tax year, said it took $343,927 in annual income to be in the top 1 percent of tax filers and $112,124 to be in the top 10 percent.
Barry’s work here is almost done.
Sure. What's the point in becoming rich when you can live on the dole from Barry's stash taken at the point of a gun from the ever decreasing supply of rich people? Typical Lib Logic. A$$hats.
Sounds like Obama is the one holding everyone hostage in order to play politics. Exempting the top one percent is going to reduce the amount of taxes collected and jobs created because the money will be moved to tax free bonds or other tax shelters.
The idea most Americans have is to rise above their conditions on their own and, to do better than their parents. Their is NO moral stigma or legal impediment to doing this.
This is NOT necessarily wanting to be ‘wealthy’... THIS is just a mature, common sense and a wholesome effort toward honorable self-sufficiency. It works for everyone concerned... at least it used to.
Because if you work to take care of yourself and your own family, you are automatically taking care of others. You are paying taxes for gov’t plans and programs for the disabled and out of work...etc.
This ‘etc’ is growing beyond all logical bounds ... so no matter how you approach your work career, the deck is stacked against you!
Striving for tons more than you actually need is not why most people work. But since this IS America, no one will stop you if that is your goal....(Except NOW, “O” wants to penalize you-and that hurts EVERYONE).
I'd received a letter saying I had to show up in person at 8:15 a.m. sharp subject to a $5,000 fine and up to a year in jail. I'd expected to be sent to an office or at least a cubicle to meet with a tax official.
Instead I walked into a big room with 10 or 12 windows made of thick Lexan or whatever strong plastic is used in banks to protect tellers during robberies. Even the receptionist was barricaded behind a similar window with a pass-through slot at the bottom.
At first I wondered what valuables they were protecting in a tax office and then I realized they weren't afraid of being robbed. They're fearful of angry taxpayers like me who are tired of the government/politician/union extortion racket. And it occurred to me that they need to be.
They have not failed; their president has failed them.
Yep...Vote Democrat so we can all be poor together!