A new Gallup poll shows President Obama's proposed "Buffett Rule," which raises the marginal tax rate on those Americans making over a million dollars a year, is widely supported by Americans. A 60 percent majority of Americans polled support the idea, while 37 percent don't. Independents support the measure 63 - 33, Democrats at an even higher rate, while Republicans are the only voting bloc to oppose the idea 43 - 54. From Gallup:
Republican politicians oppose the Buffett Rule, and there is little possibility that it will become law this year. President Obama's intense focus on the policy and his emphasis on bringing it to a vote in Congress is thus mostly a symbolic gesture -- underscoring his general presidential campaign themes this year. An emphasis on millionaires paying higher taxes also helps position the Obama presidential campaign against his very rich GOP opponent, Mitt Romney.
Perhaps more importantly than the fate of this one policy proposal, the expiration of the Bush tax cuts at the end of this year means that unless something is done, taxes will in fact go up for many American taxpayers. Obama is on record as saying that he would let the tax cuts expire for those households making $250,000 a year and up, but would keep them in place for all others.