The majority of Congress may not support a millionaire’s tax — but the majority of millionaires do.
The Survey of Affluence and Wealth in America, a study conducted in September by the Harrison Group and American Express Publishing, found that 65 percent of Americans with annual incomes over $100,000 supported raising taxes on households with incomes over $1 million. An even greater majority, 73 percent, supported raising taxes on households with incomes over $1.5 million.
And, lest anyone complain that this just represents class warfare within the upper classes — that is, affluent individuals supporting higher taxes only for even more affluent individuals — the level of support for a millionaire’s tax actually increased with income.
“The wealthy who are actually making $1 million are most likely to favor increased taxes at $1 million,” Jim Taylor, vice chairman of the Harrison Group, told IBTimes. “They are least likely to want to penalize the upper middle class.”
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Source: Maggie Astor | International Business Times