Majority of Americans says tax increases will hurt the economy

A majority of Americans (52 percent) believes that tax increases will hurt the economy just as it starts to recover from a historic downturn, finds a new poll by Rasmussen Reports.

The survey comes as the Senate pushes to pass a so-called tax extender package that includes tax increases on U.S. multinational companies, principals of S corporations and investment managers. The House also seeks to pass legislation later this week that is aimed at helping small businesses and also includes tax increases.

The poll found 55 percent of respondents say tax cuts will help the economy, while 15 percent feel tax cuts will have no impact on the recovery.

Similarly, respondents favor cuts in government spending when it comes to helping the economy. A majority (56 percent) of respondents say increases in government spending will hurt the economy. Just 24 percent say increases will help the recovery.

Both bills in the House and Senate that are expected to be voted on this week increase government spending, some of which is not offset.

Later this year, both chambers are expected to extend tax cuts enacted under President George W. Bush that benefit the middle class. Leaders in the House have said this extension would occur before November's election.

The Rassmussen report found that 45 percent of voters would rather vote for a candidate who promises to oppose all tax increases than one who will raise taxes only on the rich.

The survey was conducted between June 9-10 and tapped the opinions of 1,000 probable voters.