Poll Results: Do you think the Bush-era tax cuts should be extended?
July 24, 2012
Your answers to this simple question are very helpful to Robert Green for upcoming articles and blogs on tax policy and changes affecting traders and investment managers.
The poll results along with recent comments made on our blog survey show that our trader clients cover the gamut on income and politics. Based on our statistics as tax preparers for traders, as well as industry reports, we know that many traders are either not profitable, or barely profitable. The majority are not in the highest two income tax brackets and they wouldn’t be hurt by President Obama’s proposal to extend the Bush-era tax cuts for people making under $200,000 (single) or $250,000 (couple). One-fourth of our responders voted for that choice.
Fourteen percent of our poll participants voted to have the Bush-era tax cuts expire for everyone as planned. Some commenters on our blog survey mentioned that while traders may want to do the best they can on their personal taxes, they also see the need to fix the deficit with tax hikes or having temporary tax cuts expire.
Sixty-one percent voted to extend the Bush-era tax cuts for everyone. Most traders are sensitive to the health of the economy, financial markets and news of the pending fiscal cliff. They believe pundits who say that tax increases on job creators will soften the economy even more. There are Democrats who want to see the tax cuts extended for everyone, and there are Republicans who can wait to reduce the deficit more down the road.
When Robert writes about tax changes going into year-end, he will address the interests and needs of traders across the income and political divide. Thank you for sharing your thoughts with us.
Posted 11 months, 6 days ago on July 24, 2012
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