According to the latest USA Today / Gallup poll, public approval of President Obama’s handling of the economy sits at just 35 percent, an all-time low for the president. Obama’s overall approval rating is 42 percent, just one point up from its historic low.
But Americans are split on who should take the lead on policy in January:
In a survey taken Friday through Sunday, 28% say Obama should have the most influence on government policy next year while 27% say the Tea Party standard-bearers should. GOP congressional leaders are chosen by 23%, Democratic congressional leaders by 16%.
And respondents are similarly fractured on tax policy. 56 percent say keeping the estate tax from spiking is a priority, but on the broader Bush tax cuts, there is no consensus:
Half say it’s very important to continue the Bush-era tax cuts, though there is a division on whether the lower rates should be extended for the wealthy. Forty percent say they should be extended for everyone; 44% support limits for the affluent. Thirteen percent say all the tax cuts should be allowed to expire.
Those surveyed are inclined to say the extension should be temporary rather than permanent, 45%-37%.
Most of those who want to limit the tax cuts to the middle class support setting the limit at household incomes above $250,000 a year, which has been the White House proposal. That is backed by 26%, while 12% would draw the line at $500,000 and 5% at $1 million a year.