Americans Want the Rich to be Taxed More

A recent survey of adult citizens in 18 of the world's largest economies revealed widespread support for tax reforms and broader political and economic changes.

Conducted by Ipsos and commissioned by Earth4All and the Global Commons Alliance, the survey found that a significant majority back increased taxes on the wealthy and large businesses to fund critical economic and lifestyle changes.

According to the survey, 68 percent of citizens in 17 G20 countries support a wealth tax on wealthy individuals, with only 11 percent opposed. Higher-income tax rates for the wealthy garnered 70 percent support, and 69 percent favored higher tax rates on large businesses.

Support for wealth taxes is notably high in Indonesia (86 percent), Turkey (78 percent), the United Kingdom (77 percent), and India (74 percent). Even in countries with the lowest support, such as Saudi Arabia and Argentina, more than half of the respondents are in favor (54 percent).

This shows that more Americans want a wealth tax than in Europe's most socialist countries. In 2020, YouGov conducted a poll on U.S. public views of socialism, revealing that Republicans often use the term to criticize Democrats. When asked which countries they consider most socialist, Republicans cited Venezuela, China, and Russia, while Democrats pointed to Sweden, Denmark, and Norway.

Overall, the U.S. public identified China, Venezuela, and Russia as the most socialist countries. Scandinavian economies were also found not to be as socialist as Americans think.

When it comes to addressing climate change, 71 percent of citizens across 18 G20 countries believe that immediate action is necessary within the next decade to reduce carbon emissions from sectors like electricity, transport, food, industry, and buildings. This sentiment is strongest in Mexico (91 percent), South Africa (83 percent), and Brazil (81 percent), and even in countries with the lowest support, like Saudi Arabia (52 percent) and Japan (53 percent), over half of respondents still agree.

The survey also highlighted broad support for using additional tax revenues to fund green energy initiatives, universal health care, and strengthening workers' rights. Less popular proposals, such as universal basic income and investment in citizens' assemblies, still attracted support from about half of respondents.

"The message to politicians could not be clearer. The vast majority of people we surveyed in the world's largest economies believe major immediate action is needed this decade to tackle climate change and protect nature. At the same time, many feel the economy is not working for them and want political and economic reform. It's possible this may well help explain the rise in populist leaders," Owen Gaffney, co-lead of the Earth4All initiative, said in a statement.

"Our survey results provide a clear mandate from those across the G20 countries surveyed: redistribute wealth. Greater equality will build stronger democracies to drive a fair transformation for a more stable planet."

taxes
File photo of a U.S. tax form with an American flag background. A study found that Americans favor taxing the rich. Evgenia Parajanian via Getty Images/Stock Photo

Trust in government remains low, with only 39 percent of respondents in 17 G20 countries trusting their government to make decisions for the majority's benefit. Just 37 percent believe their government will make long-term decisions beneficial for the majority in 20 or 30 years. There is a notable demand for reform, with 65 percent believing their national political system needs significant changes or a complete overhaul and 67 percent feeling the same about their economic system.

"Science demands a giant leap to address the planetary crisis, climate change and to protect nature. And 71 [percent] of citizens in 18 G20 countries surveyed support immediate action within the next decade to reduce carbon emissions," Jane Madgwick, Executive Director at the Global Commons Alliance, said in a statement.

The survey also asked about optimism for the future. While 62 percent of respondents are optimistic about their future, only 44 percent feel positive about their country's future, and just 38 percent are optimistic about the world's future. Optimism is highest in emerging economies like Indonesia, Mexico, Brazil, and India, along with China and Saudi Arabia, while it tends to be lower in Europe, Japan, and South Korea.

These findings highlight a clear public mandate for wealth redistribution and substantial economic and political reforms as G20 nations prepare to deliberate on these crucial issues.

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About the writer


Robyn White is a Newsweek Nature Reporter based in London, UK. Her focus is reporting on wildlife, science and the ... Read more

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