Tax Law

Tax.com Reader Survey: The People Have Spoken

Thanks to all the Tax.com readers who participated in our recent survey.

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Our first survey question was about the congressional deficit reduction 'super' committee.

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A clear majority of participants, 59%, responded that the committee's plan would not gain Congressional approval, meaning those automatic spending cuts would take effect.

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The majority view sounds reasonable given our political realities. The GOP-controlled House of Representatives seems unlikely to agree to any package containing tax increases. Likewise, the Democratic-controlled Senate seems unlikely to pass any plan consisting solely of spending cuts...

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Our second question involved... [t]he Bush tax cuts...

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35% of you predicted the tax cuts would be renewed for everyone (the GOP position), while 33% said the tax cuts would be extended only for the bottom 98% of wage earners (the Obama position), and 32% think the tax cuts will expire for everyone.

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View TaxAnalysts' Robert Goulder's opinion in its entirety on TAX.com.

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