The majority of Americans think that the wealthiest among us aren’t taxed at a high enough rate.

A recent poll from FiveThirtyEight shows that 62% of americans believe that the wealthy aren’t taxed enough. Proposals like Elizabeth Warren’s wealth tax of between 1-3% on the ultra wealthy were shown to have more support than a larger tax such as AOC’s 70% wealth tax.

Gallup polls have routinely showed that the majority of Americans believe that the ultra-wealthy don’t pay high enough taxes. For comparison, less than 12% of Americans believe that the wealthy pay too much in taxes. 

Emma Dahl Comments

The general idea here is that the wealthy should be paying their fair share. However, I think a flat increase on them doesn’t account for the amount of economic growth some of them contribute to the economy. If we taxed the transactions they made instead, it wouldn’t feel like a penalty on being wealthy, and could simultaneously curb risky financial behavior.