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US voters increasingly tax the rich more



US voters seem to be relatively united in taxing ultra-wealthy citizens.

A new poll by Politico and Morning Consult, involving 1,993 people from February 1, showed that 76% of registered voters considered wealthy Americans should pay more taxes. This comes after a recent Fox News survey of 1,008 registered voters that 70% of Americans – including 54% of Republicans – support tax collection on those who earn more than $ 10 million.

"There is a deep source of conditions for perceiving injustice in the economy that has been drained here that either did not exist five years ago or existed and had not had a chance to be expressed." Michael Cembalest, President of Marketing and Investment Strategy at JPMorgan Asset Management, Politico said. "It's a moment in American economic history, where suddenly in months this thing has exploded."

RELATED: 10 states with the highest income tax

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10 states with the highest income tax

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10. Wisconsin

Personal Income Tax: 7.65%

9. New York

Personal Income Tax: 8.82%

8. Washington D.C.

Personal Income Tax: 8.95%

7. Vermont

Personal Income Tax: 8.95%

6. New Jersey

Personal Income Tax: 8.97%

5. Iowa

Personal Income Tax: 8.98%

4. Minnesota

Personal Income Tax: 9.85%

3. Oregon

Personal Income Tax: 9.9%

2. Hawaii

Personal Income Tax: 11%

1. California

Personal Income Tax Rate: 13.3%




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Some Democrats Call for Taxation of the Rich More

Liberal Democrats and President's hopes recently suggested major tax cuts involving high taxes on the kingdom.

Congressman Alexandria Ocasio-Cortez (D-NY) suggested a 70% tax on those who earn more than $ 10 million. The idea received support from 59% of respondents in a Hill / HarrisX study (in addition to the Fox News survey). In the new Politico study, 45% of the respondents made the plan, while 32% opposed it.

Yahoo Finance's Rick Newman recently argued why it is unlikely that in the near future there will be a tax of 70% for two reasons – Confidence in the government has fallen and the government is bigger than it used to to be.

  Graphic: David Foster / Yahoo Finance)

Democratic presidential candidate Elizabeth Warren (D-Mass) has proposed a 2% with a net worth of over $ 50 million and a 3% tax of over $ 1 billion. In the Politico study, 61% of respondents supported while 20% opposed.

Newman noted the obstacles that Warren will face if she tries to pass on her tax proposal, including the 16th amendment that deprives income tax from the distribution needs but makes [19659000]]

Florida

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States without income tax

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Florida

No Income Tax

Wyoming

No Income Tax

Washington

No Income Tax

Texas

No Income Tax

Texas

] No Income Tax

South Dakota

No Income Tax

Nevada

No Income Tax

Alaska

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Warren told Politico that she was not surprised that there was great support for tax plans like her and added that "Washington has been working so long after the billionaire class that people around here can't imagine crossing them."

  A recent Fox News poll o m tax collection. (Source: Screenshot / Fox News)

Research from Yahoo Finance and others previously indicated many Americans feel the Trump era tax cuts disproportionate businesses and the rich. And a recent study by the 106 National Association of Business Economics members found that 84% of respondents said "2017 Tax Reliefs and Jobs Act has not made their businesses change employment or investment plans."

Sen. Bernie Sanders (I-VT), a likely democratic candidate in the 2020 election, "uncovered a proposal that would extend federal property tax to the richest 0.2% of Americans, involving a top-end of 77% on properties over 1 billion, "CNN reported.

& # 39; It's time for our government to become serious & # 39;

Not everyone agrees to raise taxes on the rich. Larry Kudlow, a top economic adviser to Trump White House, recently told Fox Business that taxation of the rich "never works" and that it is becoming innovation.

On the other hand, billionaire and legendary investor Warren Buffett believe that higher taxes would actually help create more people like themselves.

"I was fortunate enough to be born at a time and place where society values ​​my talent and gave me a good education to develop that talent and establish laws and the financial system to let me do what I love to do – and make a lot of money doing it, "said Buffett according to" The Audacity of Hope "by Barack Obama. "The least I can do is help pay for all that."

Buffett expressed the same mood more bluntly in a 2011 opera in the New York Times and wrote, "My friends and I have been coddled long enough by a billionaire-friendly congress. It is time for our government to become serious about joint sacrifice . "

Adriana is Associate Editor of Yahoo Finance. Follow her on Twitter @adrianambells .

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