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Survey Finds Bipartisan Support for Raising Taxes on Ultra-Rich

S.J. Steinhardt
Published Date:
Mar 27, 2024


Significant bipartisan support exists for President Joe Biden’s proposal to raise taxes on the ultra-wealthy, Bloomberg reported.

Sixty-nine percent of registered voters in seven swing states said they are in favor of higher taxes on billionaires, and the same proportion support higher income taxes on people who make more than $400,000 a year, the latest Bloomberg News/Morning Consult poll found.

The support for higher taxes on billionaires transcended party lines; 58 percent of Republicans, 83 percent of Democrats and 66 percent of independents agreed.

“It seems that everybody is for taxing the rich. This is a good populist issue for the Biden campaign,” said Eli Yokley, U.S. politics analyst for Morning Consult. The idea that Trump voters back higher taxes on the wealthy and super-rich, “could give him some leeway with Congress when it comes to extending the Trump tax cuts.”

Despite the widespread agreement on taxes among survey respondents, only 32 percent of them supported letting the tax cuts enacted in the Tax Cuts and Jobs Act of 2017 expire as scheduled at the end of 2025.

One of the provisions in that law capped the state and local tax (SALT) deduction at $10,000. Forty-two percent of respondents approved of increasing the amount of the deduction, even though only about 11 percent of households are eligible to claim the deduction.

The Bloomberg News/Morning Consult poll surveyed 4,932 registered voters in seven swing states: 796 registered voters in Arizona, 788 in Georgia, 698 in Michigan, 447 in Nevada, 699 in North Carolina, 807 in Pennsylvania and 697 in Wisconsin. The surveys were conducted online beginning March 8, and concluded March 14 in Arizona and Wisconsin, March 15 in Nevada, and March 12 in the remaining states. 

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