Barack Obama Gallup Poll … 50% Job Approval, Will Healthcare, Tax Increases and Deficits Drop Obama into the 40′s?

The once 70% Gallup Job approval rating for Barack Obama is a distant memory in just eight short months. Obama finds himself with a 50% job approval rating and trending downwards.

The Rasmussen Report also has Obama hovering at the 50% mark. What will make Obama’s numbers tank altogether? When the CBO states that Obamacare will be so costly that tax increases will be required. Taxes on those who make less than $250K. Presently 59% of voters favor putting a provision in the health care reform plan that would prohibit any new taxes, fees or penalties on families who make less than $250,000 a year.

During the presidential campaign, Barack Obama said, “No family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.” But 72% of voters say it is at least somewhat likely that taxes will be increased on those earning less than $250,000 during President Obama’s time in office. Fifty-two percent (52%) say it is very likely.

Only 20% say such a tax increase is not likely.

Republicans contend that the health care plan as crafted by the Senate Finance Committee with a $900 billion price tag for 10 years will violate Obama’s pledge of no new taxes for those earning up to $250,000. The unsuccessful GOP effort to add the tax increase prohibition attracted the support of one moderate Democratic senator and a key moderate Republican, “suggesting that the issue could resurface as the debate continues,” The Washington Post said.