Yahoo Finance More Americans Push For Wealth Tax Compared To Europe's Top Socialist Nations
A recent survey reveals that more Americans support a wealth tax than citizens in some of Europe's most progressive nations. The survey, conducted by Ipsos and commissioned by Earth4All and the Global Commons Alliance, polled adults in most of the world's largest economies, uncovering a strong global desire for tax reforms aimed at the wealthy.
Approximately two-thirds (68%) of people across 17 G20 countries support implementing a wealth tax on the wealthy to fund significant economic and lifestyle changes. Only 11% are opposed. Additionally, 70% favor higher income tax rates on wealthy individuals, while 69% support higher tax rates on large businesses.
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Indonesia (86%), Turkey (78%), the UK (77%), and India (74%) have the strongest support for a wealth tax. Support is lowest in Saudi Arabia and Argentina, with 54% in favor in both countries.
In the United States, support for this idea is surprisingly high — 67% support a wealth tax on the wealthy, matching the levels in France and Germany (67% and 68%, respectively).
Interestingly, nations often labeled as "socialist" for their comprehensive welfare systems — such as Denmark and Sweden — showed lower support for a wealth tax. Only 55% of Danish and 58% of Swedish respondents favored this tax, suggesting that Americans are currently more supportive of this tax reform.
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Climate Change Concerns
The survey also highlights global concerns about climate change. A significant majority (71%) of citizens in the 18 G20 countries believe the world needs to take immediate action within the next decade to reduce carbon emissions.
This urgency is felt most strongly in Mexico (91%), South Africa (83%), and Brazil (81%). The lowest, yet still significant, concern is in Saudi Arabia (52%), Japan (53%), the United States (62%), and Italy (62%).
Economic Priorities and Trust in Government
68% of those surveyed across 17 G20 countries think their country's economy should prioritize the health and well-being of people and nature instead of focusing on profit and increasing wealth.
At the same time, 62% believe a country’s economic success should be measured by the health and well-being of its citizens, not just by how fast the economy is growing.
Trust in government is low. Only 39% of people believe their government can be trusted to make decisions that benefit the majority, and only 37% trust their government to make long-term decisions that will help people 20 or 30 years from now.
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This article More Americans Push For Wealth Tax Compared To Europe's Top Socialist Nations originally appeared on Benzinga.com
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