Most Americans favour more equitable distribution of wealth
Thursday, 27 October 2011
Fazle Rashid
NEW YORK, Oct 26: Seven in ten Americans think that the Republican policies favour the rich. Two-thirds object to tax cut for corporations and similar number prefer increasing income taxes on millionaires. A deep sense of anxiety and doubt about the future hangs over the nation, these were the outcome of a poll conducted by the New York Times (NYT) and the CBS TV network.
With all Americans remaining fearful that the economy is stagnating, two-thirds of the respondents said wealth should be distributed more evenly. The NYTCBS findings matched the findings of the Congressional Budget Office which said that income distribution had widened in the last three decades in the US.
The protest and siege on the Wall Street reflect the opinion of the overwhelming section of the Americans. Americans distrust for the government has reached its highest ever. The 74 per cent say the country is on the wrong track, 84 per cent disapprove the way the Congress is working and 89 per cent distrust the government.
The Republican voters remain unenthused about their options to challenge President Obama in the presidential elections. President Obama's approval rating has improved after the killing of Gaddafi.
With the nation's unemployment rate at 9.1 per cent, income inequality remains a palpable issue. Nearly nine out of ten Democrats, two-thirds of independent and one-third of the Republicans say the distribution of wealth in the country should be more equitable.
The distrust for the Republicans is 71 per cent. They think the Republicans do not have a clear plan to improve the economy. Nearly all Americans think that nation's economy is in the dark. Three quarters of the public lack confidence that the Congress will be able to reach agreement on creating new jobs.
Top one per cent of the wealthiest Americans have doubled their income in the last three decades. The government policy since 1970 has been less distributive to reduce concentration of wealth the Congressional Budget Office (CBO) said.