- Hollis Johnson/Business Insider
- After Rep. Alexandria Ocasio-Cortez floated a plan to hike marginal tax rates on the super-rich, conservatives said the proposal would be political suicide for Democrats.
- But, according to an INSIDER poll, a plurality of Americans support a 70% tax rate on income over $10 million.
- In fact, support for Ocasio-Cortez’s proposal is higher than support for last year’s Republican tax cuts.
After New York Rep. Alexandria Ocasio-Cortez proposed taxing income over $10 million at a 60% to 70% rate, conservatives characterized the policy as socialism and said it would gain little traction with voters.
But recent polling, including a new INSIDER poll, has found strong support for hiking marginal tax rates on the super-rich.
INSIDER asked respondents how they felt about lifting the tax rate to 70% for all income earned over $10 million, while keeping tax rates for income below the $10 million threshold at the current rates.
Overall, 38.7% supported the tax hike, while 34.4% opposed it – 13.5% of respondents said they didn’t have an opinion.
Americans generally believe that as incomes increase, so should tax rates. A Reuters poll last October found that three-quarters of Americans believe the wealthiest people in society should pay higher tax rates.
So far, Ocasio-Cortez’s proposal is polling better than the 2017 Republican tax cuts.
According to an October Gallup poll, 39% of Americans approved of the tax cuts, while 46% disapproved. And 51% of respondents said the tax cuts hadn’t yet helped them financially.
INSIDER conducted a SurveyMonkey Audience poll on a national sample from January 15 to 16. We had 1,095 respondents and a margin of error of about plus or minus 3.11 percentage points.
Overall, 24% of those surveyed identified as very or somewhat conservative, and 29% identified as very or somewhat liberal. The rest identified as slightly conservative or liberal, neither conservative nor liberal, or said they’d rather not provide their political leanings.
SurveyMonkey Audience polls from a national sample balanced by census data of age and gender. Respondents are incentivized to complete surveys through charitable contributions. Generally speaking, digital polling tends to skew toward people with access to the internet. SurveyMonkey Audience doesn’t try to weight its sample based on race or income. This survey had a total 1,095 respondents, a margin of error plus or minus 3.11 percentage points with a 95% confidence level.