A new paper on wealth inequality from economists Emmanuel Saez and Gabriel Zucman – who have written frequently on the subject – was released earlier this month. This paper is far better than previous attempts to measure...
- What Does America Think About Taxes? The 2007 Annual Surv...
What Does America Think About Taxes? The 2007 Annual Survey of U.S. Attitudes on Taxes and Wealth
Special Report No. 154
While foreign policy continues to dominate politics in Washington, the 2007 Annual Survey of U.S. Attitudes on Taxes and Wealth shows that the domestic issues of tax complexity, fairness and burdens continue to weigh heavily on the minds of the American people. For the third consecutive year, we find that a majority of U.S. adults say the federal income taxes they pay are "too high," that the federal tax code is complex, and that the U.S. tax system is in need of major changes or a complete overhaul.
This report summarizes the findings of our third annual survey of U.S. opinions on taxes. All results are based on a Harris Interactive® survey conducted on behalf of the Tax Foundation between March 5 and 12, 2007. The survey covers a nationwide cross section of 2,012 U.S. adults aged 18 or older. All data from this and previous years' surveys are available for download free of charge at www.taxfoundation.org under "Public Opinion Surveys on Taxes."
- A new 2007 poll of tax attitudes finds a majority of U.S. adults believe the federal tax code is complex, that the federal income taxes they pay are "too high," and the federal tax system needs major changes or a complete overhaul.
- Just one in ten (10 percent) say they are willing to pay higher taxes to eliminate 2007's projected $244 billion federal budget deficit.
- Two-thirds (66 percent) favor a complete elimination of the controversial federal estate tax.
- Roughly half (48 percent) say they are willing to give up some federal tax deductions if such broadening of the tax base were coupled with an across-the-board cut in tax rates.
- The estate tax is seen as the most "unfair" federal tax, followed by gasoline taxes and personal income taxes. At the state and local level, gasoline taxes are seen as the most "unfair" tax, followed by local property taxes and motor vehicle taxes.
In his bestseller Capital in the Twenty-First Century, Thomas Piketty recommends a wealth tax as a remedy to inequality. The basic version of Piketty’s wealth tax would impose a tax rate of 1...
- The United States is not the only country to experience the phenomenon of corporate tax inversions.
- Despite cutting the corporate tax rate from 52 percent in 1980 to...
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