Sunday, August 23, 2009

Gallup: 68% of Americans expect their income tax

to be higher before the end of Obama's first Term.

PRINCETON, NJ -- A new Gallup Poll finds that 68% of Americans believe their federal income taxes will be higher by the time Barack Obama's first term as president ends. This includes 35% who say their taxes will be "a lot higher."

Obama campaigned on the promise that he would raise income taxes on only the wealthiest Americans. While Americans were not necessarily convinced of that at the time -- in Gallup's final 2008 pre-election poll, 49% thought their income taxes would be higher if Obama were elected -- many more expect a tax hike now than did so during the campaign.

The rise in expectations that taxes will go up probably is a reflection on Obama's ambitious domestic agenda, which began with a $787 billion economic stimulus plan and is now focused on a roughly $1 trillion healthcare reform bill. Still, the Obama administration has made no definite plans to increase income taxes on any but the wealthiest Americans.