Support For Biden Spending Plans Evaporates If It Means Tax Hikes: I&I/TIPP Poll

Support For Biden Spending Plans Evaporates If It Means Tax Hikes: I&I/TIPP Poll

The public does not support President Biden's massive spending proposals if it means raising taxes.

Terry Jones

Amid rising economic anxiety and weakening approval for President Joe Biden’s job performance comes another red flag for Democrats. The public does not approve of the president’s massive spending proposals if it means that taxes will have to go up.

The latest I&I/TIPP Poll asked, “To what extent would you support or oppose President Biden's proposed spending plans if you knew it would result in tax increases?” When asked that way, only 45% support his plans, with 55% saying either they oppose it or aren’t sure.

TIPP Poll Results Americans support of oppose biden spending plans if taxes were to increase

Not surprisingly 71% of Democrats say they support Biden’s spending plans – which in addition to the $1.9 trillion “Recovery Act” already approved, includes the $1.2 trillion infrastructure bill the Senate recently passed, and another $3.5 trillion to fund new entitlements and other programs. The latter includes a host of tax increases that are said to target only the wealthy and large corporations.

In contrast, just 15% of Republicans back Biden’s spending plans, which also isn’t surprising. What is unexpected is that support from independents is virtually nonexistent. Only 34% say they back the extra spending if it means higher taxes, while 49% oppose it and 17% say they aren’t sure.

Also, just 43% of political moderates back the new spending, compared with 69% of liberals and 31% of conservatives.

TIPP Poll Results Americans and raising taxes due to Biden spending plan, party and ideological lines

The I&I/TIPP data come from the monthly I&I/TIPP poll conducted by TechnoMetrica Market Intelligence. The most recent poll was conducted online from July 28 to July 30. The survey includes responses from 1,322 adults, with a margin of error of +/- 2.8 points. It is part of a new collaboration between Issues & Insights and TIPP to gauge public opinion on key current issues of interest to all Americans.

Geographically, support for tax-hike financed spending increases is strongest among urbanites and those in the northeast (61% and 51%, respectively) and weakest among those in rural areas and the Midwest (31% and 37%). Also telling is that only 39% of suburban voters, those instrumental in putting Biden into the White House, say they back the new spending if it means additional taxes.

Another interesting finding is the split between men and women. The I&I/TIPP poll found that men are less concerned about tax hikes than women, with half of the men saying they back Biden’s spending plans if they knew it would result in tax increases. That compares with just 40% of women who’d support it.

Among different age groups, the only one that supports tax-financed new spending is the 25-44 age group (61%). The 18-24 crown is more tax-averse (with 44% opposed to such new spending and 43% supporting it) as are older groups.

Another somewhat surprising finding is that support increases with income, even though the wealthy are targeted for those tax hikes. It goes from 38% for those making $30-$50,000, up to 60% for those making more than $75,000. Support also increases with education, going from 37% for those with high school education to 57% for college graduates.

TIPP Poll Results: Americans support or opposition of biden spending plan if taxes increase

The poll did not detail the taxes included in the $3.5 trillion budget bill or the fact that higher inflation many economists believe will result from excessive spending acts as a tax on the middle class. (The latest report from the Bureau of Labor Statistics finds that wages haven’t been keeping pace with the recent spike in inflation, with real wages dropping over the past several months.)

A question by TIPP in the same poll for Larry Kudlow, the former chief of the National Economic Council under President Donald Trump, found that 43% of those surveyed say Biden’s spending plans will worsen inflation. There’s a sharp partisan split, with only 24% of Democrats saying that, while 72% of Republicans say inflation will result. Among independents, nearly half (46%) say the nearly $5 trillion in new spending will worsen inflation.

I&I/TIPP will create more data from polls in the coming weeks on topics of vital interest to all Americans. TIPP has the distinction of being the most accurate pollster for the past five presidential elections.

Terry Jones is an editor of Issues & Insights, with four decades of journalism experience. He earlier served as the editorial page editor for Investor’s Business Daily.

TIPP Takes

Hong Kong's Largest Protest Group Disbands

Hong Kong Protests

With the group's convener imprisoned over multiple cases and no one to take over the secretariat, the front is no longer able to maintain its operations, it said.

The Civil Human Rights Front, known for organizing mass rallies during the 2019 anti-government protests, said in a statement that the group had decided to dissolve following "unprecedented severe challenges."

The police statement following the announcement stated that the CHRF had been operating illegally and that it would remain criminally liable for any offenses committed, regardless of the group's disbandment or the resignation of its members.

In an interview last week, Hong Kong's police chief Raymond Siu said that the organization may have violated the national security law and that the police could take action against it "at any time."

Canada Election: Trudeau Calls Snap Summer Campaign

Canadian PM Justin Trudeau

Prime Minister Justin Trudeau has called a snap summer general election as Canada enters its fourth pandemic wave.

The leader of the centrist Liberals said a general election was necessary so voters have a voice on the path forward at a "pivotal moment."

Opposition parties criticized the Liberals for calling a five-week-long campaign during the pandemic's latest wave simply for "political gain."

In their recent surveys, about 46% of Canadians say they believe the country is heading in the right direction - the highest it's been in about five years.

The global coronavirus pandemic is sure to dominate the campaign, as it has much of Mr. Trudeau's second term. Over 25.000 Canadians have died from Covid, but the country fared better than others, such as the U.S.

Polls indicate that Trudeau's minority Liberal government looks within reach of forming a majority.

75th Independence Day - PM Emphasises Energy Security, Infrastructure Growth In Speech

President Nahendra Modi

As the nation celebrates its 75th Independence Day, Prime Minister Narendra Modi unfurled the national flag and addressed the country on COVID-19, climate change, national education policy, agricultural reforms, and many more issues.

PM Modi says that in the 21st century, no one can stop the development of India, and our strength lies in our striving, unity, keeping the country above all.

PM Modi said that new start-ups are coming up in tier 2 and tier 3 cities, and the government is supportive of them in terms of policy and other issues. He said, "During COVID-19, 1000s of start-ups began, and many have become unicorns. They are a new kind of wealth creators."

Mr. Modi said that a green hydrogen sector will give India a quantum jump in climate goals. He declared a National Hydrogen Mission for making India a hub for the production and export of green hydrogen.

Farmers Reap Double Benefits With Solar Power In Fields

Solar panels generate electricity in the fields, helping both farmers and climate protection.

Some berry farmers in the Netherlands are swapping traditional roofs of plastic for solar panels
Some berry farmers in the Netherlands are swapping traditional roofs of plastic for solar panels

Agrivoltaics is the exciting approach of using agricultural areas to produce food and generate photovoltaic electricity simultaneously.

In Germany, this cultivation method works well for soft fruits, apples, cherries, potatoes, and produce such as tomatoes and cucumbers. In other regions of the world, differing plants and module designs might be more suitable.

The world's largest plant, with a capacity of around 1,000 megawatts and covering about 8 square miles, is located on the edge of the Gobi Desert in China. The cultivation of goji berries under the module roofs is intended to make the dry earth fertile again.

And in Japan, farmers are already harvesting from more than 2,000 agrivoltaics systems.


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