The FINANCIAL — When it comes to job creation and improving the overall economy, voters think tax cuts will work better than government solutions.
A new Rasmussen Reports national telephone survey of Likely U.S. Voters shows that 62% believe cutting taxes is better than increasing government spending when it comes to creating jobs. Twenty percent (20%) say increased government spending does more to create jobs, while nearly the same number (18%) are undecided.
Voters are more narrowly divided on what's better for the economy in the long term. While 38% think government job creation is the better way to go, 49% say tax cuts are a better long-term solution. Twelve percent (12%) are not sure.
These results are not surprising considering voters have consistently said that cutting taxes and reducing government spending are good for the economy.
The partisan differences are predictable. Republicans and voters not affiliated with either party strongly favor tax cuts over increased government spending to create jobs, while Democrats are evenly divided on the question. Most Democrats (60%) view government job creation as better for the economy in the long run, while 77% of Republicans and the plurality (47%) of unaffiliated voters see tax cuts as a better economic move.
The survey of 1,000 Likely Voters was conducted on August 7-8, 2011 by Rasmussen Reports. The margin of sampling error is +/- 3 percentage points with a 95% level of confidence.
At the same time, 75% of voters now feel it is at least somewhat important for the government to launch a new program designed to create jobs. But 64% still believe decisions made by U.S. business leaders to help their own businesses grow will do more to create jobs than decisions made by government officials. They give mixed reviews to President Obama’s new plan to create jobs for military veterans.
The Rasmussen Employment Index, which measures workers’ perceptions of the labor market each month, fell nearly eight points in July to the lowest level since March. Only 18% of working Americans now report that their firms are hiring, while 24% say their firms are laying off workers. It has been nearly three years since the number reporting that their firms are hiring has topped the number reporting layoffs.
The number of Americans who believe the federal government should assume financial responsibility for the long-term unemployed has increased throughout 2011. Most, however, still reject that approach.
According to economists, the last recession lasted from December 2007 to June 2009, and some are wondering if we are on the path to a double dip. But a plurality of American adults believe the country entered a recession in November 2007, and a majority think the country has been in a recession every month from February 2008 until now.
Near the end of a volatile week on Wall Street,investor confidence has fallen to a two-year low, consumer confidence is just above the lowest levels of the past two years, and confidence in the stability of the U.S. banking system is the lowest ever recorded.
www.rasmussenreports.com
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