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Survey | 2019 U.S. Tax Survey

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By David F. Larcker and Brian Tayan
CGRI Survey Series. Corporate Governance Research Initiative, Stanford Rock Center for Corporate Governance, November 2019.

In fall 2019, the Rock Center for Corporate Governance at Stanford University conducted a nationwide survey of In October 2019, the Rock Center for Corporate Governance at Stanford University conducted a nationwide survey of 3,062 individuals—representative by age, race, political affiliation, household income, and state residence—to understand the American population’s views on current and proposed tax policies.

Key findings include:
--Tax rates for high-income earners are about right
--Majority favor a wealth tax … but not if it harms the economy
--Americans do not want to set limits on personal wealth
--Americans do not believe in a right to universal basic income
--Trust in the ability of the U.S. government to spend tax dollars effectively is low
--Americans believe in higher taxes for corporations who pay their CEO large dollar amounts
--Little appetite exists to break up “big tech”

Published in: Business
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Survey | 2019 U.S. Tax Survey

  1. 1. 2019 U.S. TAX SURVEY WWW.GSB.STANFORD.EDU/CGRI
  2. 2. TA B L E O F C O N T E N T S Executive Summary and Key Findings............................ 1 Methodology....................................................................... 3 2019 U.S. Tax Survey.......................................................... 4 Demographic Information...............................................16 Additional Data Tables.................................................... 25 About the Authors............................................................31 Acknowledgments............................................................31 About Stanford Graduate School of Business and the Rock Center for Corporate Governance................ 32 Contact Information....................................................... 32
  3. 3. 2019 U.S. TAX SURVEY 1 EXECUTIVE SUMMARY AND KEY FINDINGS InOctober2019,theRockCenterforCorporateGovernanceatStanfordUniversityconductedanationwidesurveyof3,062individuals— representative by age, race, political affiliation, household income, and state residence—to understand the American population’s views on current and proposed tax policies. Key findings include: TAX RATES FOR HIGH-INCOME EARNERS ARE ABOUT RIGHT. A third of Americans (38 percent) believe that the highest federal tax rate on income should be higher, while a half (51 percent)believe itisaboutrightorshouldbe lower.Democrats are more likely to believe that the highest rate should be higher, while Republicans and Independents are more likely to believe it is right or should be lower. Respondents who believe the highest rate should be higher would set it at the 50 percent level, a level consistent across respondents of all political parties. Responses do not vary by household income levels: Low-, middle-, and high-income households have similar views on the highest income-tax rate. MAJORITY FAVOR A WEALTH TAX … BUT NOT IF IT HARMS THE ECONOMY. Byathree-to-one margin(65percentto23percent),Americans support a wealth tax on individuals who have more than $50 million in assets. A wealth tax is favored across respondents of all political affiliations and across all household income-tax levels. However, when asked if they would support a wealth tax if it led to a decline in the U.S. economy or high levels of unemployment for the average worker, support flips to opposition and respondents oppose a wealth tax by a two- to-one margin (53 percent to 26 percent). Opposition in this case also spans respondents of all political affiliations and all household income-tax levels.
  4. 4. 2019 U.S. TAX SURVEY 2 AMERICANS DO NOT WANT TO SET LIMITS ON PERSONAL WEALTH. Americans reject the notion (21 percent to 67 percent) that there should be a maximum amount of wealth that any U.S. citizen or household should be allowed to have. Respondents from low-income households are more likely than respondents from high-income households to believe in a maximum amount of wealth, but they still overwhelmingly reject the notion (27 percent to 59 percent). AMERICANS DO NOT BELIEVE IN A RIGHT TO UNIVERSAL BASIC INCOME. When asked whether all U.S. citizens over the age of 18 should be paid a universal basic income of $1,000 per month by the United States government, regardless of their employment status, over a half (55 percent) say no and less than a third (29 percent) say yes. By a slight margin, Democratic respondents (44 percent to 39 percent) support the concept of a universal basic income, while Republicans (26 percent to 66 percent) and Independents (29 percent to 55 percent) do not support it. Similarly, respondents from low-income households (45 percentto39percent)are alsomore likelytosupportuniversal basic income. TRUST IN THE ABILITY OF THE U.S. GOVERNMENT TO SPEND TAX DOLLARS EFFECTIVELY IS LOW. A majority of Americans (52 percent) do not trust the U.S. governmenttospendtaxrevenue effectivelytoreduce income inequality. Only 25 percent do. Respondents of all political affiliations and also respondents of all household-income levels hold this view. AMERICANS BELIEVE IN HIGHER TAXES FOR CORPORATIONS WHO PAY THEIR CEO LARGE DOLLAR AMOUNTS. By a three-to-one margin, Americans believe that companies whose CEOs earn more than 50 times the pay of their average worker should pay a higher corporate tax rate than companies whose CEOs do not earn this much money. Responses do not vary by household income-tax levels. LITTLE APPETITE EXISTS TO BREAK UP “BIG TECH.” Less than a third of Americans (31 percent) believe that the United States government should break up the largest technology companies (Amazon, Apple, Google, and Facebook) because they are too large and powerful. Forty- two percent do not believe they should be broken up. Again, only Democratic respondents believe large technology companies should be broken up (39 percent to 35 percent), while Republicans and Independents oppose this proposal.
  5. 5. 2019 U.S. TAX SURVEY 3 Methodology In October 2019, the Rock Center for Corporate Governance at Stanford University conducted a nationwide survey of 3,062 individuals—representative by age, race, political affiliation, household income, and state residence—to understand the American population’s views on current and proposed tax policies. The survey was conducted via Dynata, a first-party data and insight platform.
  6. 6. 2019 U.S. TAX SURVEY 4 2019 U.S. Tax Survey 1. The highest income earners in the United States pay a 37% federal tax rate on their income. The average household pays a 12% federal tax rate. What is your opinion of the federal tax rate paid by the highest earners? ALL RESPONDENTS 38% 22% 29% 11% It should be higher It should be lower It is about right No opinion DEMOCRAT 53% It should be higher 17% It should be lower 21% It is about right 9% No opinion REPUBLICAN 24% It should be higher 30% It should be lower 37% It is about right 9% No opinion INDEPENDENT 31% It should be higher 23% It should be lower 33% It is about right 13% No opinion INCOME 3 TOP BRACKETS 38% It should be higher 22% It should be lower 32% It is about right 8% No opinion INCOME 4 MIDDLE BRACKETS 38% It should be higher 23% It should be lower 31% It is about right 8% No opinion INCOME 3 BOTTOM BRACKETS 38% It should be higher 23% It should be lower 24% It is about right 15% No opinion
  7. 7. 2019 U.S. TAX SURVEY 5 1a. [If higher] What should the highest federal tax rate be? ALL RESPONDENTS 50% Median DEMOCRAT 52% Median REPUBLICAN 50% Median INDEPENDENT 50% Median INCOME 3 TOP BRACKETS 50% Median INCOME 4 MIDDLE BRACKETS 50% Median INCOME 3 BOTTOM BRACKETS 53% Median
  8. 8. 2019 U.S. TAX SURVEY 6 2. Do you support a wealth tax on individuals who have more than $50 million in wealth? ALL RESPONDENTS 65% 23% 12% Yes No I don’t know DEMOCRAT 80% Yes 13% No 7% I don’t know REPUBLICAN 54% Yes 36% No 10% I don’t know INDEPENDENT 58% Yes 26% No 16% I don’t know INCOME 3 TOP BRACKETS 61% Yes 28% No 11% I don’t know INCOME 4 MIDDLE BRACKETS 67% Yes 22% No 11% I don’t know INCOME 3 BOTTOM BRACKETS 66% Yes 22% No 11% I don’t know
  9. 9. 2019 U.S. TAX SURVEY 7 2a. [If higher] How much should wealth above $50 million be taxed per year? ALL RESPONDENTS 1% 4% 6% 4% 2% 14% Less than 1% 1% 2% 3% 4% 5% 3% 3% 3% 2% 17% 41% 6% 7% 8% 9% 10% More than 10% DEMOCRAT 1% Less than 1% 4% 1% 7% 2% 4% 3% 2% 4% 13% 5% 4% 6% 2% 7% 3% 8% 2% 9% 17% 10% 41% More than 10% DEMOCRAT 1% Less than 1% 4% 1% 6% 2% 4% 3% 4% 4% 13% 5% 3% 6% 3% 7% 4% 8% 1% 9% 18% 10% 39% More than 10% INDEPENDENT 1% Less than 1% 4% 1% 5% 2% 3% 3% 2% 4% 16% 5% 2% 6% 4% 7% 4% 8% 1% 9% 16% 10% 42% More than 10%
  10. 10. 2019 U.S. TAX SURVEY 8 INCOME 3 TOP BRACKETS 2% Less than 1% 6% 1% 9% 2% 3% 3% 1% 4% 15% 5% 2% 6% 3% 7% 3% 8% 1% 9% 17% 10% 38% More than 10% INCOME 4 MIDDLE BRACKETS 1% Less than 1% 4% 1% 5% 2% 5% 3% 2% 4% 14% 5% 3% 6% 2% 7% 4% 8% 2% 9% 17% 10% 41% More than 10% INCOME 3 BOTTOM BRACKETS 2% Less than 1% 3% 1% 5% 2% 4% 3% 3% 4% 12% 5% 3% 6% 4% 7% 4% 8% 1% 9% 16% 10% 43% More than 10%
  11. 11. 2019 U.S. TAX SURVEY 9 3. If a wealth tax led to a significant decline in the U.S. economy and high levels of unemployment for average workers, would you support a wealth tax? ALL RESPONDENTS 26% 53% 21% Yes No I don’t know DEMOCRAT 34% Yes 42% No 24% I don’t know REPUBLICAN 22% Yes 65% No 13% I don’t know INDEPENDENT 20% Yes 57% No 23% I don’t know INCOME 3 TOP BRACKETS 24% Yes 57% No 19% I don’t know INCOME 4 MIDDLE BRACKETS 28% Yes 53% No 19% I don’t know INCOME 3 BOTTOM BRACKETS 26% Yes 50% No 24% I don’t know
  12. 12. 2019 U.S. TAX SURVEY 10 4. Should companies whose CEOs earn more than 50 times the pay of their average worker pay a higher corporate tax rate than companies whose CEOs do not earn this much money? ALL RESPONDENTS 65% 22% 13% Yes No I don’t know DEMOCRAT 75% Yes 16% No 9% I don’t know REPUBLICAN 58% Yes 29% No 13% I don’t know INDEPENDENT 60% Yes 23% No 17% I don’t know INCOME 3 TOP BRACKETS 62% Yes 26% No 12% I don’t know INCOME 4 MIDDLE BRACKETS 67% Yes 21% No 12% I don’t know INCOME 3 BOTTOM BRACKETS 64% Yes 20% No 16% I don’t know
  13. 13. 2019 U.S. TAX SURVEY 11 5. Should there be a maximum amount of wealth that any U.S. citizen or household is allowed to have? ALL RESPONDENTS 21% 67% 12% Yes No I don’t know DEMOCRAT 27% Yes 60% No 13% I don’t know REPUBLICAN 19% Yes 73% No 8% I don’t know INDEPENDENT 16% Yes 71% No 13% I don’t know INCOME 3 TOP BRACKETS 17% Yes 74% No 9% I don’t know INCOME 4 MIDDLE BRACKETS 20% Yes 69% No 11% I don’t know INCOME 3 BOTTOM BRACKETS 27% Yes 59% No 14% I don’t know
  14. 14. 2019 U.S. TAX SURVEY 12 5a. [If yes] What is the maximum amount of wealth they should be allowed to have? ALL RESPONDENTS 26% 20% 18% 12% 12% 5% 6% 1% $10 million $50 million $100 million $500 million $1 billion $10 billion $100 billion Other DEMOCRAT 26% $10 million 23% $50 million 17% $100 million 12% $500 million 11% $1 billion 4% $10 billion 6% $100 billion 1% Other REPUBLICAN 28% $10 million 20% $50 million 18% $100 million 15% $500 million 8% $1 billion 5% $10 billion 5% $100 billion 1% Other INDEPENDENTS 27% $10 million 17% $50 million 18% $100 million 9% $500 million 16% $1 billion 6% $10 billion 5% $100 billion 2% Other INCOME 3 TOP BRACKETS 17% $10 million 19% $50 million 19% $100 million 19% $500 million 10% $1 billion 4% $10 billion 12% $100 billion 0% Other INCOME 4 MIDDLE BRACKETS 20% $10 million 21% $50 million 24% $100 milliont 11% $500 million 13% $1 billion 5% $10 billion 3% $100 billion 3% Other INCOME 3 BOTTOM BRACKETS 36% $10 million 21% $50 million 12% $100 milliont 9% $500 million 11% $1 billion 5% $10 billion 5% $100 billion 1% Other
  15. 15. 2019 U.S. TAX SURVEY 13 6. To what extent do you agree with the following statement: “I trust the United States government to spend tax revenue effectively to reduce income inequality? ALL RESPONDENTS 10% 15% 23% 27% 25% Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree DEMOCRAT 11% Strongly agree 17% Agree 21% Neither agree nor disagree 29% Disagree 22% Strongly disagree REPUBLICAN 12% Strongly agree 17% Agree 22% Neither agree nor disagree 25% Disagree 24% Strongly disagree INDEPENDENTS 5% Strongly agree 12% Agree 25% Neither agree nor disagree 29% Disagree 29% Strongly disagree INCOME 3 TOP BRACKETS 10% Strongly agree 12% Agree 21% Neither agree nor disagree 29% Disagree 28% Strongly disagree INCOME 4 MIDDLE BRACKETS 9% Strongly agree 16% Agree 23% Neither agree nor disagree 29% Disagree 23% Strongly disagree INCOME 3 BOTTOM BRACKETS 11% Strongly agree 17% Agree 25% Neither agree nor disagree 23% Disagree 24% Strongly disagree
  16. 16. 2019 U.S. TAX SURVEY 14 7. Should all U.S. citizens over the age of 18 be paid a universal basic income of $1,000 per month ($12,000 per year) by the United States government, regardless of their employment status? ALL RESPONDENTS 29% 55% 16% Yes No I don’t know DEMOCRAT 44% Yes 39% No 17% I don’t know REPUBLICAN 26% Yes 66% No 8% I don’t know INDEPENDENT 29% Yes 55% No 16% I don’t know INCOME 3 TOP BRACKETS 23% Yes 65% No 12% I don’t know INCOME 4 MIDDLE BRACKETS 31% Yes 55% No 14% I don’t know INCOME 3 BOTTOM BRACKETS 45% Yes 39% No 16% I don’t know
  17. 17. 2019 U.S. TAX SURVEY 15 8. To what extent do you agree with the following statement, “The United States government should break up the largest technology companies (Amazon, Apple, Google, and Facebook) because they are too large and powerful”? ALL RESPONDENTS 14% 17% 27% 27% 15% Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree DEMOCRAT 18% Strongly agree 21% Agree 26% Neither agree nor disagree 25% Disagree 10% Strongly disagree REPUBLICAN 13% Strongly agree 14% Agree 22% Neither agree nor disagree 30% Disagree 21% Strongly disagree INDEPENDENTS 11% Strongly agree 15% Agree 32% Neither agree nor disagree 27% Disagree 15% Strongly disagree INCOME 3 TOP BRACKETS 15% Strongly agree 16% Agree 23% Neither agree nor disagree 29% Disagree 17% Strongly disagree INCOME 4 MIDDLE BRACKETS 13% Strongly agree 17% Agree 26% Neither agree nor disagree 30% Disagree 14% Strongly disagree INCOME 3 BOTTOM BRACKETS 15% Strongly agree 18% Agree 31% Neither agree nor disagree 23% Disagree 13% Strongly disagree
  18. 18. 2019 U.S. TAX SURVEY 16 Demographic Information 1. What is your gender? ALL RESPONDENTS 47% 53% Male Female DEMOCRAT 48% Male 52% Female REPUBLICAN 44% Male 56% Female REPUBLICAN 49% Male 51% Female INCOME 3 TOP BRACKETS 62% Male 38% Female INCOME 4 MIDDLE BRACKETS 46% Male 54% Female INCOME 3 BOTTOM BRACKETS 39% Male 61% Female 2. What is your age? ALL RESPONDENTS 44 45 Mean Median DEMOCRAT 44 Mean 42 Median REPUBLICAN 46 Mean 45 Median REPUBLICAN 46 Mean 45 Median INCOME 3 TOP BRACKETS 49 Mean 49 Median INCOME 4 MIDDLE BRACKETS 45 Mean 43 Median INCOME 3 BOTTOM BRACKETS 42 Mean 41 Median
  19. 19. 2019 U.S. TAX SURVEY 17 3. What state do you live in? ALL RESPONDENTS 1% 0% 2% 1% 12% 2% 1% 0% Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware 7% 3% 0% 1% 4% 2% 1% 1% Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas 1% 1% 0% 2% 2% 3% 2% 1% Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi 2% 0% 1% 1% 0% 3% 1% 6% Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York 3% 0% 4% 1% 1% 4% 1% 2% North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina 0% 2% 8% 1% 0% 3% 3% 1% South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia 2% 0% Wisconsin Wyoming
  20. 20. 2019 U.S. TAX SURVEY 18 DEMOCRAT 1% 0% 2% 1% 13% 2% 2% 0% Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware 7% 3% 0% 0% 4% 2% 1% 1% Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas 1% 1% 0% 2% 2% 3% 2% 1% Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi 2% 1% 1% 1% 0% 3% 1% 6% Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York 3% 0% 4% 1% 1% 4% 1% 2% North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina 0% 2% 8% 1% 0% 2% 2% 1% South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia 2% 0% Wisconsin Wyoming REPUBLICAN 2% 0% 2% 1% 10% 2% 1% 0% Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware 7% 4% 0% 1% 4% 2% 1% 1% Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas 2% 2% 0% 2% 2% 3% 2% 1% Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi 2% 1% 1% 1% 0% 2% 0% 6% Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York 4% 0% 3% 1% 1% 4% 0% 2% North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina 0% 3% 9% 1% 0% 3% 2% 0% South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia 2% 0% Wisconsin Wyoming
  21. 21. 2019 U.S. TAX SURVEY 19 INDEPENDENTS 1% 0% 3% 1% 13% 2% 1% 0% Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware 7% 3% 1% 1% 4% 2% 1% 1% Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas 1% 1% 1% 2% 3% 3% 2% 0% Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi 2% 0% 0% 1% 1% 3% 1% 6% Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York 3% 0% 3% 1% 1% 3% 1% 1% North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina 0% 2% 8% 1% 0% 3% 3% 1% South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia 1% 0% Wisconsin Wyoming INCOME 3 TOP BRACKETS 1% 0% 3% 0% 16% 1% 2% 0% Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware 6% 2% 1% 1% 5% 1% 1% 1% Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas 1% 1% 0% 3% 3% 2% 1% 0% Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi 2% 0% 1% 1% 0% 4% 0% 9% Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York 2% 0% 3% 1% 1% 4% 0% 1% North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina 0% 2% 8% 1% 0% 3% 3% 1% South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia 1% 0% Wisconsin Wyoming
  22. 22. 2019 U.S. TAX SURVEY 20 INCOME 4 MIDDLE BRACKETS 1% 0% 2% 1% 12% 3% 1% 0% Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware 7% 3% 1% 0% 4% 3% 1% 1% Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas 1% 1% 0% 2% 3% 3% 2% 1% Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi 2% 0% 1% 1% 1% 3% 1% 5% Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York 4% 0% 3% 1% 1% 4% 1% 1% North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina 0% 2% 8% 1% 0% 3% 3% 0% South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia 1% 0% Wisconsin Wyoming INCOME 3 BOTTOM BRACKETS 2% 0% 2% 1% 9% 1% 1% 1% Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware 7% 4% 0% 1% 4% 2% 1% 1% Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas 2% 2% 0% 2% 1% 4% 1% 1% Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi 2% 1% 1% 1% 0% 2% 1% 5% Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York 3% 0% 5% 1% 1% 4% 0% 2% North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina 1% 3% 8% 1% 0% 3% 2% 1% South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia 2% 0% Wisconsin Wyoming
  23. 23. 2019 U.S. TAX SURVEY 21 4. How would you describe yourself? (select all that apply) ALL RESPONDENTS 70% 12% 9% 6% 2% 1% White Black or Hispanic Asian or Native American Other African American or Latino Pacific Islander or Alaskan DEMOCRAT 70% White 12% Black or African American 9% Hispanic or Latino 6% Asian or Pacific Islander 2% Native American or Alaskan 1% Other REPUBLICAN 70% White 12% Black or African American 9% Hispanic or Latino 6% Asian or Pacific Islander 2% Native American or Alaskan 1% Other INDEPENDENTS 70% White 12% Black or African American 9% Hispanic or Latino 6% Asian or Pacific Islander 2% Native American or Alaskan 1% Other INCOME 3 TOP BRACKETS 70% White 12% Black or African American 9% Hispanic or Latino 6% Asian or Pacific Islander 2% Native American or Alaskan 1% Other INCOME 4 MIDDLE BRACKETS 70% White 12% Black or African American 9% Hispanic or Latino 6% Asian or Pacific Islander 2% Native American or Alaskan 1% Other INCOME 3 BOTTOM BRACKETS 70% White 12% Black or African American 9% Hispanic or Latino 6% Asian or Pacific Islander 2% Native American or Alaskan 1% Other
  24. 24. 2019 U.S. TAX SURVEY 22 5. Political Affiliation ALL RESPONDENTS 39% 29% 30% 0% 2% Democrat Republican Independent Other, please specify None DEMOCRAT 100% Democrat 0% Republican 0% Independent 0% Other, please specify 0% None REPUBLICAN 0% Democrat 100% Republican 0% Independent 0% Other, please specify 0% None INDEPENDENTS 0% Democrat 0% Republican 100% Independent 0% Other, please specify 0% None INCOME 3 TOP BRACKETS 39% Democrat 29% Republican 30% Independent 0% Other, please specify 2% None INCOME 4 MIDDLE BRACKETS 39% Democrat 30% Republican 29% Independent 0% Other, please specify 2% None INCOME 3 BOTTOM BRACKETS 39% Democrat 27% Republican 29% Independent 1% Other, please specify 4% None
  25. 25. 2019 U.S. TAX SURVEY 23 6. Household Income. ALL RESPONDENTS 15% 10% 10% 8% 10% 11% 13% 8% 5% 10% Less than $20,000 $30,000 $40,000 $50,000 $60,000 $75,000 $100,000 $125,000 $150,000 $20,000 but less than but less than but less than but less than but less than but less than but less than but less than or more $30,000 $40,000 $50,000 $60,000 $75,000 $100,000 $125,000 $150,000 DEMOCRAT 15% Less than $20,000 10% $20,000 but less than $30,000 10% $30,000 but less than $40,000 8% $40,000 but less than $50,000 10% $50,000 but less than $60,000 11% $60,000 but less than $75,000 13% $75,000 but less than $100,000 8% $100,000 but less than $125,000 5% $125,000 but less than $150,000 10% $150,000 or more DEMOCRAT 15% Less than $20,000 10% $20,000 but less than $30,000 10% $30,000 but less than $40,000 8% $40,000 but less than $50,000 10% $50,000 but less than $60,000 11% $60,000 but less than $75,000 13% $75,000 but less than $100,000 8% $100,000 but less than $125,000 5% $125,000 but less than $150,000 10% $150,000 or more INDEPENDENT 15% Less than $20,000 10% $20,000 but less than $30,000 10% $30,000 but less than $40,000 8% $40,000 but less than $50,000 10% $50,000 but less than $60,000 11% $60,000 but less than $75,000 13% $75,000 but less than $100,000 8% $100,000 but less than $125,000 5% $125,000 but less than $150,000 10% $150,000 or more
  26. 26. 2019 U.S. TAX SURVEY 24 NCOME 3 TOP BRACKETS 0% Less than $20,000 0% $20,000 but less than $30,000 0% $30,000 but less than $40,000 0% $40,000 but less than $50,000 0% $50,000 but less than $60,000 0% $60,000 but less than $75,000 0% $75,000 but less than $100,000 36% $100,000 but less than $125,000 23% $125,000 but less than $150,000 41% $150,000 or more INCOME 4 MIDDLE BRACKETS 0% Less than $20,000 0% $20,000 but less than $30,000 0% $30,000 but less than $40,000 20% $40,000 but less than $50,000 23% $50,000 but less than $60,000 25% $60,000 but less than $75,000 32% $75,000 but less than $100,000 0% $100,000 but less than $125,000 0% $125,000 but less than $150,000 0% $150,000 or more INCOME 3 BOTTOM BRACKETS 43% Less than $20,000 29% $20,000 but less than $30,000 28% $30,000 but less than $40,000 0% $40,000 but less than $50,000 0% $50,000 but less than $60,000 0% $60,000 but less than $75,000 0% $75,000 but less than $100,000 0% $100,000 but less than $125,000 0% $125,000 but less than $150,000 0% $150,000 or more
  27. 27. 2019 U.S. TAX SURVEY 25 Additional Data Tables 1. The highest income earners in the United States pay a 37% federal tax rate on their income. The average household pays a 12% federal tax rate. What is your opinion of the federal tax rate paid by the highest earners? RedStates BlueStates PurpleStates Male Female White Blackor African American Hispanicor Latino AsianorPacific Islander Native Americanor Alaskan OtherRace GenZ18–20 GenYor millenials 21-37 GenXor latchkey38–50 BabyBoomers 51–70 Matureor silentgen 71–89 It should be higher 36% 39% 38% 41% 34% 38% 43% 35% 39% 11% 36% 41% 37% 36% 39% 43% It should be lower 22% 24% 21% 21% 23% 21% 22% 30% 26% 21% 39% 28% 28% 23% 18% 12% It is about right 30% 28% 30% 27% 30% 31% 22% 23% 23% 42% 18% 18% 25% 28% 33% 40% No opinion 12% 9% 11% 11% 13% 10% 13% 12% 12% 26% 7% 13% 10% 13% 10% 5% 1a. [If higher] What should the highest federal tax rate be? RedStates BlueStates PurpleStates Male Female White Blackor African American Hispanicor Latino AsianorPacific Islander Native Americanor Alaskan OtherRace GenZ18–20 GenYor millenials 21-37 GenXor latchkey38–50 BabyBoomers 51–70 Matureor silentgen 71–89 Median 53% 50% 50% 51% 50% 50% 60% 50% 50% 70% 48% 61% 55% 50% 50% 50% 2. Do you support a wealth tax on individuals who have more than $50 million in wealth? RedStates BlueStates PurpleStates Male Female White Blackor African American Hispanicor Latino AsianorPacific Islander Native Americanor Alaskan OtherRace GenZ18–20 GenYor millenials 21-37 GenXor latchkey38–50 BabyBoomers 51–70 Matureor silentgen 71–89 Yes 62% 66% 67% 64% 66% 66% 63% 67% 67% 42% 54% 64% 69% 65% 64% 59% No 26% 23% 21% 26% 21% 23% 26% 22% 21% 42% 36% 24% 21% 22% 25% 29% I don’t know 12% 11% 12% 10% 13% 11% 11% 11% 12% 16% 10% 12% 10% 13% 11% 12%
  28. 28. 2019 U.S. TAX SURVEY 26 2a. [If higher] How much should wealth above $50 million be taxed per year? RedStates BlueStates PurpleStates Male Female White Blackor African American Hispanicor Latino AsianorPacific Islander Native Americanor Alaskan OtherRace GenZ18–20 GenYor millenials 21-37 GenXor latchkey38–50 BabyBoomers 51–70 Matureor silentgen 71–89 Less than 1% 1% 1% 2% 1% 1% 1% 2% 2% 2% 0% 13% 2% 1% 1% 1% 1% 1% 2% 5% 5% 5% 3% 4% 2% 3% 5% 0% 0% 1% 3% 2% 6% 9% 2% 5% 8% 5% 8% 4% 6% 4% 7% 8% 0% 6% 2% 5% 4% 9% 8% 3% 5% 3% 4% 4% 4% 4% 6% 5% 3% 0% 0% 5% 5% 4% 3% 2% 4% 3% 2% 3% 2% 2% 2% 5% 3% 2% 0% 0% 1% 4% 1% 1% 2% 5% 12% 15% 14% 14% 14% 15% 10% 12% 13% 38% 7% 12% 12% 16% 15% 12% 6% 3% 3% 2% 4% 2% 2% 6% 4% 4% 12% 0% 8% 4% 2% 2% 1% 7% 4% 3% 2% 3% 3% 3% 4% 3% 1% 12% 0% 3% 4% 5% 1% 2% 8% 4% 3% 3% 4% 3% 3% 5% 2% 4% 0% 0% 10% 4% 3% 2% 3% 9% 1% 2% 1% 2% 1% 1% 3% 3% 2% 0% 0% 5% 2% 1% 1% 1% 10% 18% 16% 17% 16% 18% 18% 16% 11% 12% 13% 27% 19% 17% 16% 16% 23% More than 10% 42% 39% 42% 37% 45% 41% 37% 45% 44% 25% 47% 32% 39% 45% 43% 36% 3. If a wealth tax led to a significant decline in the U.S. economy and high levels of unemployment for average workers, would you support a wealth tax? RedStates BlueStates PurpleStates Male Female White Blackor African American Hispanicor Latino AsianorPacific Islander Native Americanor Alaskan OtherRace GenZ18–20 GenYor millenials 21-37 GenXor latchkey38–50 BabyBoomers 51–70 Matureor silentgen 71–89 Yes 24% 26% 28% 30% 23% 23% 37% 30% 37% 26% 32% 42% 30% 28% 21% 16% No 57% 52% 52% 53% 52% 56% 44% 51% 46% 53% 47% 44% 52% 49% 56% 64% I don’t know 19% 22% 20% 17% 25% 21% 19% 19% 17% 21% 21% 14% 18% 23% 23% 20% 4. Should companies whose CEOs earn more than 50 times the pay of their average worker pay a higher corporate tax rate than companies whose CEOs do not earn this much money? RedStates BlueStates PurpleStates Male Female White Blackor African American Hispanicor Latino AsianorPacific Islander Native Americanor Alaskan OtherRace GenZ18–20 GenYor millenials 21-37 GenXor latchkey38–50 BabyBoomers 51–70 Matureor silentgen 71–89 Yes 63% 65% 66% 64% 65% 65% 66% 66% 68% 42% 57% 63% 68% 62% 64% 62% No 22% 22% 21% 25% 20% 21% 22% 23% 19% 32% 32% 26% 21% 22% 21% 26% I don’t know 15% 13% 13% 11% 15% 14% 12% 11% 13% 26% 11% 11% 11% 16% 15% 12%
  29. 29. 2019 U.S. TAX SURVEY 27 5. Should there be a maximum amount of wealth that any U.S. citizen or household is allowed to have? RedStates BlueStates PurpleStates Male Female White Blackor African American Hispanicor Latino AsianorPacific Islander Native Americanor Alaskan OtherRace GenZ18–20 GenYor millenials 21-37 GenXor latchkey38–50 BabyBoomers 51–70 Matureor silentgen 71–89 Yes 21% 21% 22% 21% 21% 18% 35% 27% 25% 11% 7% 63% 31% 22% 13% 8% No 68% 67% 67% 70% 64% 71% 54% 57% 65% 63% 82% 26% 59% 66% 73% 83% I don’t know 11% 12% 11% 9% 15% 11% 11% 16% 10% 26% 11% 11% 10% 12% 14% 9% 5a. [if yes] What is the maximum amount of wealth they should be allowed to have? RedStates BlueStates PurpleStates Male Female White Blackor African American Hispanicor Latino AsianorPacific Islander Native Americanor Alaskan OtherRace GenZ18–20 GenYor millenials 21-37 GenXor latchkey38–50 BabyBoomers 51–70 Matureor silentgen 71–89 $10 million 30% 24% 27% 28% 26% 25% 28% 31% 30% 0% 0% 17% 25% 28% 33% 21% $50 million 21% 19% 22% 17% 24% 18% 25% 21% 23% 50% 50% 30% 23% 19% 15% 5% $100 million 12% 21% 17% 20% 16% 19% 16% 14% 12% 0% 0% 13% 18% 19% 15% 27% $500 million 13% 13% 9% 12% 12% 14% 12% 9% 9% 0% 0% 11% 12% 11% 12% 26% $1 billion 8% 11% 16% 14% 9% 12% 8% 12% 17% 0% 0% 11% 12% 13% 13% 5% $10 billion 6% 5% 3% 4% 5% 5% 4% 5% 7% 50% 0% 11% 4% 5% 2% 5% $100 billion 8% 5% 5% 4% 7% 5% 6% 6% 2% 0% 50% 7% 5% 5% 7% 0% Other 2% 2% 1% 1% 1% 2% 1% 2% 0% 0% 0% 0% 1% 0% 3% 11% 6. To what extent do you agree with the following statement: “I trust the United States government to spend tax revenue effectively to reduce income inequality? RedStates BlueStates PurpleStates Male Female White Blackor African American Hispanicor Latino AsianorPacific Islander Native Americanor Alaskan OtherRace GenZ18–20 GenYor millenials 21-37 GenXor latchkey38–50 BabyBoomers 51–70 Matureor silentgen 71–89 Strongly agree 8% 10% 11% 12% 8% 8% 20% 12% 10% 16% 14% 9% 12% 10% 9% 3% Agree 15% 16% 15% 15% 15% 13% 18% 20% 15% 16% 14% 16% 18% 15% 13% 16% Neither agree nor disagree 24% 23% 23% 21% 26% 22% 24% 27% 23% 16% 11% 27% 22% 23% 23% 24% Disagree 29% 28% 25% 25% 29% 30% 21% 23% 23% 31% 29% 27% 25% 28% 29% 28% Strongly disagree 24% 23% 26% 27% 22% 27% 17% 18% 29% 21% 32% 21% 23% 24% 26% 29%
  30. 30. 2019 U.S. TAX SURVEY 28 7. Should all U.S. citizens over the age of 18 be paid a universal basic income of $1,000 per month ($12,000 per year) by the United States government, regardless of their employment status? RedStates BlueStates PurpleStates Male Female White Blackor African American Hispanicor Latino AsianorPacific Islander Native Americanor Alaskan OtherRace GenZ18–20 GenYor millenials 21-37 GenXor latchkey38–50 BabyBoomers 51–70 Matureor silentgen 71–89 Yes 34% 34% 34% 34% 34% 30% 50% 43% 33% 21% 14% 56% 47% 34% 22% 12% No 53% 51% 53% 53% 50% 56% 36% 43% 48% 37% 64% 32% 41% 50% 62% 79% I don’t know 13% 15% 13% 13% 16% 14% 14% 14% 19% 42% 22% 12% 12% 16% 16% 9% 8. To what extent do you agree with the following statement, “The United States government should break up the largest technology companies (Amazon, Apple, Google, and Facebook) because they are too large and powerful”? RedStates BlueStates PurpleStates Male Female White Blackor African American Hispanicor Latino AsianorPacific Islander Native Americanor Alaskan OtherRace GenZ18–20 GenYor millenials 21-37 GenXor latchkey38–50 BabyBoomers 51–70 Matureor silentgen 71–89 Strongly agree 13% 15% 15% 18% 11% 13% 20% 17% 14% 5% 18% 23% 19% 13% 10% 10% Agree 16% 18% 15% 18% 16% 15% 20% 17% 24% 26% 18% 19% 19% 14% 16% 16% Neither agree nor disagree 28% 28% 26% 25% 30% 27% 26% 29% 28% 32% 36% 27% 26% 30% 26% 31% Disagree 28% 25% 29% 24% 29% 29% 22% 23% 26% 21% 14% 20% 23% 28% 32% 28% Strongly disagree 15% 14% 15% 15% 14% 16% 12% 14% 8% 16% 14% 11% 13% 15% 16% 15% Demographics 1. Gender RedStates BlueStates PurpleStates Male Female White Blackor African American Hispanicor Latino AsianorPacific Islander Native Americanor Alaskan OtherRace GenZ18–20 GenYor millenials 21-37 GenXor latchkey38–50 BabyBoomers 51–70 Matureor silentgen 71–89 Male 39% 54% 46% 100% 0% 48% 36% 49% 55% 32% 54% 42% 38% 45% 54% 71% Female 61% 46% 54% 0% 100% 52% 64% 51% 45% 68% 46% 58% 62% 55% 46% 29% 2. Age RedStates BlueStates PurpleStates Male Female White Blackor African American Hispanicor Latino AsianorPacific Islander Native Americanor Alaskan OtherRace GenZ18–20 GenYor millenials 21-37 GenXor latchkey38–50 BabyBoomers 51–70 Matureor silentgen 71–89 Mean 43 46 46 48 42 46 39 42 45 45 45 19 29 44 60 75 Median 40 45 54 48 40 46 34 39 44 44 44 19 29 43 60 74
  31. 31. 2019 U.S. TAX SURVEY 29 3. What state do you live in? RedStates BlueStates PurpleStates Male Female White Blackor African American Hispanicor Latino AsianorPacific Islander Native Americanor Alaskan OtherRace GenZ18–20 GenYor millenials 21-37 GenXor latchkey38–50 BabyBoomers 51–70 Matureor silentgen 71–89 Alabama 5% 0% 0% 1% 2% 1% 4% 0% 0% 0% 3% 7% 1% 1% 1% 1% Alaska 1% 0% 0% 0% 0% 0% 0% 0% 0% 5% 0% 1% 0% 0% 0% 0% Arizona NA 0% 7% 3% 2% 2% 1% 4% 2% 16% 4% 1% 2% 3% 3% 4% Arkansas 3% 0% 0% 1% 1% 1% 1% 1% 0% 0% 0% 1% 1% 1% 0% 0% California NA 28% 0% 15% 9% 9% 6% 26% 38% 0% 3% 9% 13% 12% 12% 9% Colorado NA 0% 6% 2% 2% 2% 0% 1% 2% 0% 3% 2% 2% 2% 1% 6% Connecticut NA 3% 0% 2% 1% 1% 2% 3% 1% 0% 3% 2% 2% 1% 1% 2% Delaware NA 1% 0% 0% 0% 0% 1% 0% 0% 0% 0% 1% 0% 1% 0% 1% Florida NA 0% 21% 7% 6% 6% 7% 14% 3% 5% 11% 5% 5% 7% 8% 8% Georgia NA 0% 10% 3% 4% 3% 8% 2% 1% 5% 7% 5% 3% 3% 3% 3% Hawaii NA 1% 0% 1% 0% 0% 0% 0% 6% 0% 0% 0% 0% 1% 1% 1% Idaho 2% 0% 0% 1% 0% 1% 0% 0% 1% 0% 0% 0% 0% 0% 1% 1% Illinois NA 10% 0% 4% 4% 4% 6% 3% 4% 0% 7% 5% 3% 4% 5% 7% Indiana 8% 0% 0% 2% 2% 3% 2% 2% 0% 0% 0% 4% 2% 2% 2% 2% Iowa NA 2% 0% 1% 1% 1% 0% 1% 0% 0% 0% 2% 1% 0% 1% 1% Kansas 3% 0% 0% 1% 1% 1% 0% 0% 0% 0% 0% 0% 1% 1% 1% 1% Kentucky 5% 0% 0% 1% 2% 2% 1% 0% 0% 0% 0% 1% 2% 2% 1% 0% Louisiana 5% 0% 0% 1% 2% 1% 5% 0% 1% 0% 0% 2% 2% 1% 1% 0% Maine NA 0% 1% 0% 0% 0% 0% 0% 1% 0% 0% 0% 0% 1% 0% 0% Maryland NA 4% 0% 2% 1% 2% 3% 2% 2% 0% 4% 4% 2% 1% 2% 3% Massachusetts NA 5% 0% 2% 2% 2% 1% 1% 4% 0% 0% 1% 2% 2% 3% 1% Michigan NA 0% 10% 3% 3% 3% 4% 1% 1% 0% 11% 3% 3% 3% 3% 4% Minnesota NA 4% 5% 2% 1% 2% 0% 0% 0% 0% 0% 1% 1% 3% 2% 2% Mississippi 3% 0% 0% 1% 1% 1% 2% 0% 0% 0% 0% 1% 1% 0% 1% 1% Missouri 7% 0% 0% 1% 3% 2% 1% 0% 1% 0% 0% 0% 2% 2% 2% 2% Montana 2% 0% 0% 0% 1% 1% 0% 0% 0% 0% 11% 1% 1% 0% 0% 0% Nebraska 2% 0% 0% 1% 1% 1% 0% 0% 0% 0% 0% 1% 1% 1% 0% 0% Nevada NA 0% 3% 1% 1% 1% 1% 0% 2% 0% 3% 0% 1% 1% 1% 1% New Hampshire NA 0% 1% 0% 1% 1% 0% 0% 0% 0% 0% 1% 1% 0% 1% 0% New Jersey NA 6% 0% 3% 2% 2% 3% 3% 3% 11% 4% 2% 3% 2% 2% 3% New Mexico NA 1% 0% 1% 1% 1% 1% 2% 0% 0% 3% 0% 1% 0% 1% 1% New York NA 15% 0% 7% 5% 6% 7% 6% 7% 0% 4% 8% 6% 5% 8% 3% North Carolina NA 0% 10% 2% 4% 4% 4% 0% 1% 16% 0% 1% 4% 3% 3% 4% North Dakota 1% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 1% 0% 0% 0% 0% Ohio NA 9% 0% 3% 4% 4% 4% 1% 1% 0% 0% 4% 3% 5% 3% 3% Oklahoma 4% 0% 0% 1% 1% 1% 1% 1% 0% 0% 0% 1% 2% 1% 1% 0% Oregon NA 3% 0% 1% 1% 1% 0% 0% 1% 6% 0% 1% 0% 1% 2% 2% Pennsylvania NA 0% 12% 4% 4% 4% 4% 1% 3% 0% 0% 4% 4% 4% 4% 2% Rhode Island NA 1% 0% 0% 1% 1% 0% 0% 0% 5% 0% 0% 0% 1% 0% 0% South Carolina 6% 0% 0% 1% 2% 1% 4% 1% 0% 0% 0% 2% 2% 2% 1% 2% South Dakota 1% 0% 0% 0% 0% 1% 0% 0% 0% 0% 0% 1% 0% 0% 0% 1% Tennessee 9% 0% 0% 2% 3% 3% 2% 0% 1% 0% 0% 1% 2% 3% 2% 1% Texas 30% 0% 0% 8% 9% 7% 8% 18% 5% 26% 11% 9% 10% 6% 9% 9% Utah 3% 0% 0% 1% 1% 1% 0% 0% 1% 0% 0% 0% 1% 2% 0% 0% Vermont NA 1% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% Virginia NA 0% 8% 2% 3% 3% 4% 1% 3% 0% 4% 1% 2% 3% 2% 3% Washington NA 6% 0% 3% 2% 3% 1% 1% 4% 0% 4% 3% 2% 3% 2% 4% West Virginia NA 0% 0% 0% 1% 1% 0% 1% 0% 0% 0% 0% 1% 1% 1% 0% Wisconsin NA 0% 5% 2% 2% 2% 1% 1% 0% 0% 0% 0% 2% 2% 2% 1% Wyoming NA 0% 0% 0% 0% 0% 0% 1% 0% 5% 0% 0% 0% 0% 0% 0%
  32. 32. 2019 U.S. TAX SURVEY 30 4. How would you describe yourself? (select all that apply) RedStates BlueStates PurpleStates Male Female White Blackor African American Hispanicor Latino AsianorPacific Islander Native Americanor Alaskan OtherRace GenZ18–20 GenYor millenials 21-37 GenXor latchkey38–50 BabyBoomers 51–70 Matureor silentgen 71–89 White 70% 70% 70% 70% 70% 100% 0% 0% 0% 0% 0% 58% 68% 78% 79% 85% Black or African American 12% 12% 12% 12% 12% 0% 100% 0% 0% 0% 0% 28% 17% 7% 9% 5% Hispanic or Latino 9% 9% 9% 9% 9% 0% 0% 100% 0% 0% 0% 13% 9% 6% 6% 4% Asian or Pacific Islander 6% 6% 6% 6% 6% 0% 0% 0% 100% 0% 0% 1% 6% 7% 5% 4% Native American or Alaskan 2% 2% 2% 2% 2% 0% 0% 0% 0% 100% 0% 0% 0% 1% 1% 0% Other 1% 1% 1% 1% 1% 0% 0% 0% 0% 0% 100% 0% 0% 1% 0% 2% 5. Political Affiliation RedStates BlueStates PurpleStates Male Female White Blackor African American Hispanicor Latino AsianorPacific Islander Native Americanor Alaskan OtherRace GenZ18–20 GenYor millenials 21-37 GenXor latchkey38–50 BabyBoomers 51–70 Matureor silentgen 71–89 Democrat 37% 41% 38% 40% 38% 35% 58% 47% 39% 27% 36% 43% 41% 38% 38% 36% Republican 33% 25% 29% 27% 31% 33% 11% 22% 25% 42% 11% 26% 27% 31% 30% 30% Independent 26% 31% 31% 31% 28% 29% 28% 29% 34% 26% 43% 25% 29% 29% 30% 32% Other, please specify 1% 1% 0% 0% 0% 1% 0% 0% 0% 0% 7% 6% 0% 0% 0% 1% None 3% 2% 2% 2% 3% 2% 3% 2% 2% 5% 3% 0% 3% 2% 2% 1% 6. Household Income RedStates BlueStates PurpleStates Male Female White Blackor African American Hispanicor Latino AsianorPacific Islander Native Americanor Alaskan OtherRace GenZ18–20 GenYor millenials 21-37 GenXor latchkey38–50 BabyBoomers 51–70 Matureor silentgen 71–89 Less than $20,000 15% 15% 15% 15% 15% 13% 29% 16% 7% 16% 15% 29% 17% 12% 15% 7% $20,000 but less than $30,000 10% 10% 10% 10% 10% 10% 16% 12% 5% 26% 7% 22% 11% 9% 10% 6% $30,000 but less than $40,000 10% 10% 10% 10% 10% 10% 9% 14% 3% 0% 7% 11% 10% 10% 9% 9% $40,000 but less than $50,000 8% 8% 8% 8% 8% 8% 8% 10% 6% 10% 19% 8% 11% 8% 6% 9% $50,000 but less than $60,000 10% 10% 10% 10% 10% 10% 8% 10% 6% 11% 19% 11% 11% 8% 10% 10% $60,000 but less than $75,000 11% 11% 10% 11% 11% 11% 8% 11% 11% 5% 4% 5% 11% 10% 10% 13% $75,000 but less than $100,000 13% 13% 13% 13% 13% 14% 9% 9% 23% 11% 11% 6% 13% 14% 13% 17% $100,000 but less than $125,000 8% 8% 8% 8% 8% 9% 4% 9% 9% 5% 7% 4% 7% 8% 10% 9% $125,000 but less than $150,000 5% 5% 6% 5% 5% 6% 3% 4% 10% 0% 7% 2% 3% 9% 6% 7% $150,000 or more 10% 10% 10% 10% 10% 9% 6% 5% 20% 16% 4% 2% 6% 12% 11% 13%
  33. 33. 2019 U.S. TAX SURVEY 31 ABOUT THE AUTHORS DAVID F. LARCKER David F. Larcker is the James Irvin Miller Professor of Accounting at Stanford Graduate School of Business, director of the Corporate Governance Research Initiative, and senior faculty of the Arthur and Toni Rembe Rock Center for Corporate Governance. His research focuses on executive compensation and corporate governance. Professor Larcker presently serves on the Board of Trustees for Wells Fargo Advantage Funds. He is coauthor of the books A Real Look at Real World Corporate Governance and Corporate Governance Matters. Email: dlarcker@stanford.edu Twitter: @stanfordcorpgov Full Bio: http://www.gsb.stanford.edu/faculty-research/faculty/david-f-larcker BRIAN TAYAN Brian Tayan is a member of the Corporate Governance Research Initiative at Stanford Graduate School of Business. He has written broadly on the subject of corporate governance, including boards of directors, succession planning, compensation, financial accounting, and shareholder relations. He is coauthor with David Larcker of the books A Real Look at Real World Corporate Governance and Corporate Governance Matters. Email: btayan@stanford.edu Full Bio: http://www.gsb.stanford.edu/contact/brian-tayan Acknowledgments THE AUTHORS WOULD LIKE TO THANK MICHELLE E. GUTMAN OF THE CORPORATE GOVERNANCE RESEARCH INITIATIVE AT STANFORD GRADUATE SCHOOL OF BUSINESS FOR HER RESEARCH ASSISTANCE ON THIS STUDY.
  34. 34. 2019 U.S. TAX SURVEY 32 About Stanford Graduate School of Business and the Rock Center for Corporate Governance CORPORATE GOVERNANCE RESEARCH INITIATIVE The Corporate Governance Research Initiative at Stanford Graduate School of Business focuses on research to advance theintellectualunderstandingofcorporategovernance,both domestically and abroad. By collaborating with academics and practitioners from the public and private sectors, we seek to generate insights into critical issues and bridge the gap between theory and practice. Our research covers a broad range of topics that include executive compensation, board governance, CEO succession, and proxy voting. gsb.stanford.edu/cgri THE ROCK CENTER FOR CORPORATE GOVERNANCE The Arthur and Toni Rembe Rock Center for Corporate Governance is a joint initiative of Stanford Law School and Stanford Graduate School of Business. The center was created to advance the understanding and practice of corporate governance in a cross-disciplinary environment where leading academics, business leaders, policymakers, practitioners, and regulators can meet and work together. rockcenter.stanford.edu Contact Information FOR MORE INFORMATION ON THIS REPORT, PLEASE CONTACT: CATHERINE FALGE PUBLIC RELATIONS MANAGER Stanford Graduate School of Business Knight Management Center Stanford University 655 Knight Way Stanford, CA 94305-7298 Telephone: +1.650.723.0887 cfalge@stanford.edu Copyright ©2019 Stanford Graduate School of Business and the Rock Center for Corporate Governance

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