42% Willing To Pay More in Taxes to Balance Budget If Real Spending Cuts Are Made

If real spending cuts aren’t enough, voters are evenly divided over whether they’d be willing to pay more in taxes to balance the budget. They’re similarly divided when it comes to cutting income tax deductions for higher-income Americans, but most like the idea of making all income up to $20,000 tax-free.

If the president and Congress agreed to a long-term plan to significantly reduce federal spending and the deficit, 42% of Likely U.S. Voters would be personally willing to pay “a bit more” in taxes to balance the budget if the spending cuts were not enough. But a new Rasmussen Reports national telephone survey finds that another 42% are not willing to pay more even if they were assured that the spending cuts were real. Sixteen percent (16%) are not sure. (To see survey question wording, click here.)

Given the holiday week, there will be no Rasmussen Challenge this week.  The contest will resume on Tuesday, November 27, 2012.

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The survey of 1,000 Likely Voters was conducted on November 15, 2012 by Rasmussen Reports. The margin of sampling error is +/- 3 percentage points with a 95% level of confidence. Field work for all Rasmussen Reports surveys is conducted by Pulse Opinion Research, LLC. See methodology.