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Defying the Odds

Defying the Odds
New book about the 2016 election.

Thursday, January 26, 2012

Republicans Like a Lower Rate on Capital Gains

A New York Times poll shows that Americans tend to disapprove of the lower tax rate on capital gains, which allowed Mitt Romney to pay less tax than other millionaires.  Other data suggest why the issue may not be fatal in the nomination race:
But there’s a partisan divide, with just more than half of Republicans approving of the lower tax rate on capital gains, but about two-thirds of Democrats saying capital gains and dividends should be taxed at the same rate as income from work. More than half of independents – an important swing group in the presidential election — also say the tax rates should be similar. And most Americans say that what they themselves pay in taxes is about right, but that people with high incomes pay too little in taxes.
A little more than half say the tax rate they pay is about right, while about 4 in 10 say they pay more than their fair share. Seven in 10 Democrats say wealthy Americans pay less than their fair share in taxes, while Republicans are divided.
Nearly 4 in 10 Republicans say that the rich pay less than their fair share, and about the same number say the amount wealthy people pay is about right. Nearly 2 in 10 Republicans say the rich pay more than their fair share.
And 58 percent of independents also say the rich are not contributing their fair share to the nation’s coffers.