Americans are receptive to a proposal by President Obama’s bipartisan deficit reduction commission to increase the level of income taxable for Social Security, but most don’t like the idea of raising the retirement age.?
President Obama’s bipartisan deficit reduction commission is considering a radical overhaul of one of the most sacred of sacred cows – the income tax deduction on interest paid on home mortgages. Americans are narrowly divided when asked about possible ways to limit that deduction.
President Obama’s bipartisan deficit reduction commission ultimately will propose tax hikes, spending cuts or a combination of the two to reduce the country's historic high debt, but most Americans feel they - and not Congress - should have the final say on whether the commission's proposals become law.
While President Obama’s bipartisan deficit reduction commission is considering a mix of spending cuts and tax increases to tackle the country’s growing deficit, a slight majority of voters now say it’s possible to balance the budget without raising taxes.
The chairmen of President Obama’s bipartisan deficit reduction commission released draft proposals Wednesday that included plans for tax increases and spending cuts for entitlement programs that drew sharp criticism from both sides of the political aisle.Americans are now a bit less sure as to whether the commission will push more tax hikes or more spending cuts in order to reduce the deficit.
