Latest public opinion polling shows that the majority of Americans support raising taxes on the richest people. A new poll by Politico and Morning Consult, involving 1,993 people from February 1 to February 2, 2019, show that more than 70% of registered voters want to increase income tax rates for the country’s richest millionaires and billionaires. Another recent public opinion poll from Fox News shows that 70% of registered voters surveyed want higher taxes on rich people who make more than $10 million dollars, including 54% of Republicans, 85% of Democrats, and 71% of non-partisan independents.
Reasons behind the majority of Americans supporting progressive taxation are likely to come from policy proposals espoused by prominent progressive Democrats. Massachusetts Senator and 2020 presidential contender Elizabeth Warren recently proposed a 2% wealth tax on rich household worth at $50 million. Meanwhile, New York City Congresswoman Alexandria Ocasio-Cortez wants a 70% marginal tax rate for household incomes more than $10 million to fund programs such as Green New Deal, tuition-free and debt free public higher education, and universal healthcare. Vermont Senator and possible 2020 presidential candidate Bernie Sanders recently proposed an expansion of the federal estate tax, imposing a top 77% rate on estates worth more than $1 billion.
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