Half think tax, S.S. cuts don't help them

Feb. 14, 2011 at 2:24 AM   |   Comments

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ROCHESTER, N.Y., Feb. 14 (UPI) -- About half of U.S. adults do not think they personally will gain from the Bush tax cut extension and Social Security payroll reduction, a survey indicates.

The 24/7 Wall St./Harris Poll survey involved 2,364 U.S. adults surveyed online from Jan. 27-31 by Harris Interactive indicates 49 percent of Americans say they think they would not receive any additional money, 27 percent say they are not sure and 24 percent say they will receive more money.

When asked how they think they would spend the additional money as a result of the legislation, more than half say they will use the money to pay down their debt. Just under half of Americans who think they will receive additional money say it will go to groceries and other bills. Two in five say they will use any additional money to add to their savings and/or investments. One in five say they would spend the money on a car, home, home renovation or piece of jewelry.

Fifteen percent say they would use the money to take a vacation, 2 percent say they would spend it on something else and 4 percent say they are not sure on how to spend the extra money.

No further survey details were provided.

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