7 in 10 Brace Themselves for Tax Increases


Tax Increases to Support Proposed Legislation
of Americans say the economic stimulus package is not working, according to the latest American Pulse Survey of 5,024 Americans.

Further, the failing economy is seen as the number one threat to American’s rights as citizens (28.5% say so), above proposed healthcare reform (15%), Social Security running out of money (14.7%) and even terrorism (11.3%).

It appears that most are watching the unemployment levels to signal the end of the recession, a sentiment echoed across all political parties. Americans, however, aren’t as likely to view a declaration by either Ben Bernanke or President Obama as a sign that the recession is over.

What sign do you believe will best demonstrate to you that the recession is over?                                      

                                            Adults 18+ Republicans Democrats Independents
The Federal Reserve Chairman,  3.5%       4.0%        4.6%      2.4%
Ben Bernanke, declares it over

Wall Street stock indexes             8.9%       10.5%       8.6%      7.3%
show it’s over

Unemployment levels decline    72.1%      74.7%       72.9%     74.1%

President Obama says it’s over     4.7%       1.8%        6.4%      4.7%

      Other                                          10.7%      9.0%        7.5%      11.5%
Source: BIGresearch, American Pulse – Oct 09

Worries about whether Social Security will be there when they retire and potential tax increases are also weighing on the minds of weary consumers. Almost half (46.5%) of those who qualify believe Social Security will not be there for them when they retire, 16.5% say it will be and 37% aren’t sure. 68.6% think they will see tax hikes in the next 3 years to pay for proposed legislation such as healthcare reform and Cap and Trade, 11.5% say taxes will not increase and 19.9% don’t know.

On the international front, 28.4% of Americans believe directly targeting al-Qaida fighters is the right strategy for Afghanistan, 23.1% say pull troops out completely and 18.4% say send in thousands more. Meanwhile, the dialogue between the U.S. and Iran in Geneva did not lessen concerns about Iran’s nuclear capabilities for 66% of Americans, 12.9% say it did (21.1% weren’t concerned prior to the talks). 72.2% believe it is not very/not at all likely that Iran will suspend their uranium enrichment program.

For the full complimentary report (segments include age, income, gender and political party): http://americanpulse.bigresearch.com.

(source: BIGresearch is a consumer intelligence firm providing analysis of behavior in areas of products and services, retail, financial services, automotive and media. More information is available at http://www.bigresearch.com)