Respondents show strong backing for major changes to the tax system aimed at higher‑income earners and wealth accumulation.
A clear majority of the public backs policies that would tax wealth growth and raise rates on high earners, suggesting political appetite for more progressive taxation.
Policymakers could anticipate continued pressure to shift from capital‑gains treatment toward ordinary‑income taxation of asset gains and to consider historical rate structures as a benchmark for future reforms.
The comment proposes taxing the increase in value of stock and other assets as income rather than capital gains, stating that billionaires should not become richer without being taxed. It interprets current capital gains treatment as allowing wealth accumulation without sufficient taxation. The evidence shows agreement levels ranging from 71% to 87%.
Legislators (federal and state) could legislate a tax code that restores the marginal tax rates of the 1950s for high‑income earners, ensuring the wealthy pay a larger share of taxes. A majority of respondents (74‑89%) support returning to historical tax rates for the wealthy.
Legislators (federal and state) could amend tax law to treat the appreciation in value of stocks and other assets as ordinary income each year, thereby taxing billionaires on wealth growth. The observation notes that current capital‑gains treatment is viewed as allowing wealth accumulation without sufficient taxation, providing a normative justification for this policy. A substantial share of respondents (71‑87%) support taxing asset value increases as income.