The lines are being drawn in the sand as we speak, Huge Cuts are on the table - presumably to strengthen Social Security and Medicaid programs. But the talks have stalled over "Revenue Increases" or as President Obama and DEM leaders is congress call them "Closing the Tax Loopholes"
There is little doubt HUGE amounts of New Revenues can be realize through closing some of the most egregious Tax Loopholes that encourage outsourcing American Jobs, special breaks and subsidies for some of the most profitable Corporations (foreign and domestic) on the planet, and Hedge Fund managers paying a lower effective tax rate on the many $Millions they earn compared to the meager salary of a Kindergarten Teacher.
Political Fallout will be weighed - trial balloons will be floated - and polling will be watched. Clearly the vocal minority called the TeaFarty will be assessed as a "Lunatic Fringe" not worthy of Political Risk taking.
All that and Rupert Murdock / TeaFarty financier and Head Media Advocate has his own special problems at home and in other parts of the World - Don't look for that horse in this race. He is actively seeking the means to limit his public exposure.
19 Different Polls Show That Americans Support Tax Increases To Cut Deficit
In the June 9
ABC News poll 61% of Americans believe higher taxes will be necessary to reduce the deficit, and 57% of those polled said that deficit reduction should include both tax increases and spending cuts.
A Pew poll found that more people blame the nation’s involvement in wars than tax cuts or spending for the deficit. The poll also found wide support for increasing taxes, as
67% said the more high earners income should be subject to being taxed for Social Security, and 66% support raising taxes on incomes over $250,000, and 62% support closing corporate tax loopholes.
A Bloomberg poll taken in May found that only 33% of those surveyed thought that it would be possible to lower the deficit without raising taxes,
64% expressed the belief that it isn’t possible to lower the deficit without raising taxes.
An April CBS News/NY Times poll showed that
72% of people favored raising taxes on the wealthy in order to reduce the deficit. A March NBC News/Wall Street Journal poll found that 81% of those surveyed would support a tax on millionaires that would be used for deficit reduction, and 68% supported eliminating the Bush tax cuts on those who make over $250,000.
http://www.politicususa.com/en/polls-taxes-deficit