Americans Support Raising Capital Gains And Corporate Taxes But Oppose Raising The Estate Tax

Americans Support Raising Capital Gains And Corporate Taxes But Oppose Raising The Estate Tax

The article presents findings from an IBD/TIPP Poll on three tax proposals. Sixty-five percent favor a higher capital gains tax rate, and another 54% favor increasing the corporate tax rate to 28%. However, 50% oppose increasing estate taxes.

Raghavan Mayur

65% support higher capital gains tax rate for couples earning more than $1 million annually.  Another 54% favor raising the corporate tax from 21% to 28%. However, 50% oppose increasing the estate taxes on a person's assets after death.

The Investor's Business Daily/TIPP poll in early April included the three proposals that the Biden administration was considering at the time.

IBD released the findings on Wednesday, April 28, to coincide with President Biden's State of the Union address to Congress.

President Biden's tax proposal includes increases in corporate and capital gains taxes to help finance his $1.8 trillion American Families Plan.