Updated Saturday, August 29, 2015 as of 2:57 PM ET

Global Investors Expect Fiscal Cliff to Be Avoided: Poll

Respondents to the Bloomberg poll also back the president’s view that higher taxes will help rather than hurt the economy. Fifty-one percent say returning top marginal tax rates to Clinton administration levels will help the economy by shrinking the deficit while 35 percent say it will damage growth.

Only 35 percent of U.S. investors say higher taxes will help compared with 60 percent of those outside the U.S.

Won’t Hurt

“I don’t think these tax increases will hurt,” says Philippe Giordan, head of investments for KBL Monaco Private Bankers and a professor of finance at the University of Paris Dauphine. “Recovery will first come from real estate and mass consumption, which will not be affected by limiting tax cuts for the 2 percent richest.”

As of Jan. 1, a new 3.8 percent tax on unearned income designed to help pay for the president’s health-care law takes effect. Investors are taking one or more actions in response: 25 percent are taking profits; 13 percent are moving into tax- favored investments such as municipal bonds; 11 percent are selling dividend-paying shares; 9 percent are exercising stock options and 38 percent are standing pat.

Nessan O’Carroll, Mizuho Corporate Bank’s co-head of derivative products in London, says he doesn’t expect “significant reallocation of investment outside the U.S. or a significant hit to entrepreneurial efforts by wealthy people” affected by the tax increases.

The Bloomberg Global Poll was conducted by Selzer & Co., a Des Moines, Iowa-based firm. The poll has a margin of error of plus or minus 3.3 percentage points.

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