Perception v. Reality on Tax Rates

Perception v. Reality on Tax Rates

Here’s a conundrum.  A recent poll revealed that 76 percent of Americans support increasing taxes on the “wealthy,” while sixty-one percent support the wealth tax proposed by Senator Elizabeth Warren, which is like an income tax, only at ridiculously high rates.

But polls also show Americans consistently oppose high tax rates, even on the wealthy.  This summer, for example, the Winston Group asked registered voters: “For each of the following, what is the maximum rate at which you think they should be taxed?”  …[T]he average responses were all consistently low, ranging from a high of 31 percent for the wealthy down to just 17 percent for small and family-owned businesses.

First published in The Hill.  Read the entire post here.

2019-09-09T15:44:51+00:00