SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
People participate in a "March on Billionaires" event on July 17, 2020 in New York City. (Photo: Spencer Platt/Getty Images)
Poll: Two-Thirds of Americans Favor Raising Taxes on Incomes Over $400K
A majority of respondents—regardless of political affiliation—also back tuition-free college for students whose families earn less than $125,000 annually.
Dec 02, 2020
A compelling majority of Americans favor raising taxes on people who make more than $400,000 per year, according to a new poll published Thursday by the New York Times and Survey Monkey.
According to the poll, fully two-thirds of Americans support a tax hike for anyone whose annual income exceeds $400,000, while maintaining current taxation levels for those earning less than that amount.
"Nobody making under 400,000 bucks would have their taxes raised, period, bingo."
--Joe Biden, May 2020
Among people who identify as either Democrats or Democrat-leaning, support for raising taxes on those making more than $400,000 is, at 88%, overwhelming. A solid 70% of self-described independents back such an increase, while nearly half (45%) of people identifying as Republicans or Republican-leaning favor the hike.
Among wealthier Americans--those earning $150,000 or more annually--62% said people making more than $400,000 should pay more tax.
A U.S. worker who is paid $400,000 falls just below the threshold of the top 1%, according to figures from the Economic Policy Institute.
The issue, and the $400,000 figure, made headlines during the 2020 presidential election when Democratic nominee Joe Biden pledged that "nobody making under 400,000 bucks would have their taxes raised, period, bingo."
Since the election, the president-elect has affirmed his plan to raise taxes on the wealthiest Americans, but not on anyone earning less than $400,000. Biden's tax plan would raise the top tax rate for people with the highest incomes to 39.6%.
On related issues of economic inequality, the new survey also found that nearly two-thirds (64%) of respondents favor making four-year public colleges and universities tuition-free for any students whose families earn less than $125,000 annually. There was even a wider ideological gap on this issue, with 87% of Democrats but only 36% of Republicans backing the policy. People without four-year college degrees favored the measure over those with degrees, 65% to 60%.
The poll also found overwhelming support for emergency paid leave for sick gig and seasonal economy workers during the ongoing coronavirus pandemic, with 84% of all respondents backing the move. Almost all--96%--Democrats, 88% of independents, and 73% of Republicans favored this proposal.
The survey comes a day after the Economic Policy Institute released an analysis of new U.S. wage data showing that the yearly income of the top 1% in the U.S.--which averaged nearly $738,000 in 2018--skyrocketed 160% between 1979 and 2019, while wages for the bottom 90% rose just 26% over the same 40-year period. The top 0.1%, those making an average of $2.82 million, enjoyed a staggering 345% gain since 1979.
We are at a crossroads
This country and this world are at a monumental crossroads. US voters have an opportunity to beat back the forces of fascism and confront the billionaires who are rigging the economy, our media system, and our democracy, making it increasingly impossible for ordinary people to get by. We’re not just talking about the election. We’re talking about what must be done once these fascist elements are vanquished from power. We need a bolder set of solutions than what either major party has so far been willing to offer and a working-class movement ready to fight like hell for it. Trump didn't emerge from nowhere. The conditions that fueled MAGA authoritarianism were created by decades of radical neoliberal economic policies and a corrupt political system dominated by corporate interests. They slashed taxes on the super-rich, promising that the benefits would trickle down. They said giveaways to the corporate titans would make life more affordable for the rest of us. It was all bullshit. And when a bitter, betrayed populace searches for someone to blame, right-wing demagogues have little trouble finding scapegoats. People know when they're being lied to, but you won't hear any of this from the corporate media. Only independent journalism—powered and funded by people who believe in building a better world—can deliver truly trustworthy daily news. If you share our vision, please contribute whatever you can to sustain our work. |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
A compelling majority of Americans favor raising taxes on people who make more than $400,000 per year, according to a new poll published Thursday by the New York Times and Survey Monkey.
According to the poll, fully two-thirds of Americans support a tax hike for anyone whose annual income exceeds $400,000, while maintaining current taxation levels for those earning less than that amount.
"Nobody making under 400,000 bucks would have their taxes raised, period, bingo."
--Joe Biden, May 2020
Among people who identify as either Democrats or Democrat-leaning, support for raising taxes on those making more than $400,000 is, at 88%, overwhelming. A solid 70% of self-described independents back such an increase, while nearly half (45%) of people identifying as Republicans or Republican-leaning favor the hike.
Among wealthier Americans--those earning $150,000 or more annually--62% said people making more than $400,000 should pay more tax.
A U.S. worker who is paid $400,000 falls just below the threshold of the top 1%, according to figures from the Economic Policy Institute.
The issue, and the $400,000 figure, made headlines during the 2020 presidential election when Democratic nominee Joe Biden pledged that "nobody making under 400,000 bucks would have their taxes raised, period, bingo."
Since the election, the president-elect has affirmed his plan to raise taxes on the wealthiest Americans, but not on anyone earning less than $400,000. Biden's tax plan would raise the top tax rate for people with the highest incomes to 39.6%.
On related issues of economic inequality, the new survey also found that nearly two-thirds (64%) of respondents favor making four-year public colleges and universities tuition-free for any students whose families earn less than $125,000 annually. There was even a wider ideological gap on this issue, with 87% of Democrats but only 36% of Republicans backing the policy. People without four-year college degrees favored the measure over those with degrees, 65% to 60%.
The poll also found overwhelming support for emergency paid leave for sick gig and seasonal economy workers during the ongoing coronavirus pandemic, with 84% of all respondents backing the move. Almost all--96%--Democrats, 88% of independents, and 73% of Republicans favored this proposal.
The survey comes a day after the Economic Policy Institute released an analysis of new U.S. wage data showing that the yearly income of the top 1% in the U.S.--which averaged nearly $738,000 in 2018--skyrocketed 160% between 1979 and 2019, while wages for the bottom 90% rose just 26% over the same 40-year period. The top 0.1%, those making an average of $2.82 million, enjoyed a staggering 345% gain since 1979.
A compelling majority of Americans favor raising taxes on people who make more than $400,000 per year, according to a new poll published Thursday by the New York Times and Survey Monkey.
According to the poll, fully two-thirds of Americans support a tax hike for anyone whose annual income exceeds $400,000, while maintaining current taxation levels for those earning less than that amount.
"Nobody making under 400,000 bucks would have their taxes raised, period, bingo."
--Joe Biden, May 2020
Among people who identify as either Democrats or Democrat-leaning, support for raising taxes on those making more than $400,000 is, at 88%, overwhelming. A solid 70% of self-described independents back such an increase, while nearly half (45%) of people identifying as Republicans or Republican-leaning favor the hike.
Among wealthier Americans--those earning $150,000 or more annually--62% said people making more than $400,000 should pay more tax.
A U.S. worker who is paid $400,000 falls just below the threshold of the top 1%, according to figures from the Economic Policy Institute.
The issue, and the $400,000 figure, made headlines during the 2020 presidential election when Democratic nominee Joe Biden pledged that "nobody making under 400,000 bucks would have their taxes raised, period, bingo."
Since the election, the president-elect has affirmed his plan to raise taxes on the wealthiest Americans, but not on anyone earning less than $400,000. Biden's tax plan would raise the top tax rate for people with the highest incomes to 39.6%.
On related issues of economic inequality, the new survey also found that nearly two-thirds (64%) of respondents favor making four-year public colleges and universities tuition-free for any students whose families earn less than $125,000 annually. There was even a wider ideological gap on this issue, with 87% of Democrats but only 36% of Republicans backing the policy. People without four-year college degrees favored the measure over those with degrees, 65% to 60%.
The poll also found overwhelming support for emergency paid leave for sick gig and seasonal economy workers during the ongoing coronavirus pandemic, with 84% of all respondents backing the move. Almost all--96%--Democrats, 88% of independents, and 73% of Republicans favored this proposal.
The survey comes a day after the Economic Policy Institute released an analysis of new U.S. wage data showing that the yearly income of the top 1% in the U.S.--which averaged nearly $738,000 in 2018--skyrocketed 160% between 1979 and 2019, while wages for the bottom 90% rose just 26% over the same 40-year period. The top 0.1%, those making an average of $2.82 million, enjoyed a staggering 345% gain since 1979.
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.
To inform. To inspire. To ignite change for the common good.
News & Opinion
Trending
Common Dreams, Inc. Founded 1997. Registered 501(c3) Non-Profit
Privacy Policy