Extensive polling shows that Americans are in favor of taxing the wealthy

Extensive polling shows that Americans are in favor of taxing the wealthy

We examined more than 55 national and state polls on six categories of tax reform: the billionaire tax, the wealth tax, raising the top marginal tax rate, the millionaire surplus tax, the capital gains tax, and the estate tax and related dynasty trust reform.

An income tax for billionaires received the most support among party identifications. On average, two in three (67 percent) Americans supported the tax, including 84 percent of Democrats, 64 percent of Independents and 51 percent of Republicans.

In national opinion polls, a wealth tax received similarly high levels of support. More than three in five Americans supported the tax, including 78 percent of Democrats, 62 percent of Independents and 51 percent of Republicans. State wealth tax polls have looked at more moderate and conservative voters and generally show high levels of support, with slightly less support from independents and Republicans.

If the majority of Americans support a fairer tax code, why haven’t policies changed to reflect what the public wants? There is ample evidence that the disproportionately wealthy exercise their outsized influence to shape policies and public perception to protect their dynastic wealth and increasingly consolidate their power.

We are at a turning point in our country’s history. Every day, more people are making connections between the roadblocks we personally face in achieving the American Dream and the outsized power of the extremely wealthy. We experience the impact of excessive wealth at the grocery store checkout, while our children enroll in higher education, while we receive our paychecks, find housing, and perform some of life’s essential tasks.

The disproportionately wealthy exercise their power to profit in ways that profoundly impact our daily lives, while blaming hardships on new immigrants, Black and brown people, and American families struggling to make ends meet. The facts and public opinion are clear. Excessive wealth cannot continue to grow unchecked. Our democracy and our future depend on making fundamental changes.

Tax reform is the most promising tool we can use to fix the American economy so it works for everyone. Our report makes it clear that raising taxes on the rich is not only necessary – it’s popular! Taxing the wealthy is not a fringe idea, and despite the mantra that major tax reforms do not have enough support, it is actually well supported by the American public.

We must come together and demand that our nation’s leaders make the wealthy pay what they actually owe in taxes so that we can provide quality schools, affordable health care, and good-paying jobs that ensure all our families can thrive.

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