More taxing news for the Donald Trump campaign: Americans overwhelmingly prefer Hillary Clinton’s tax plans to Trump’s, according to a new survey released by personal finance platform Wallethub.
With questions about his own tax history dogging the Republican nominee, the 2016 Tax Fairness Survey reveals that nearly three-quarters of Americans – at least, three quarters of an “online survey of a nationally representative sample of 1,040 Americans,” according to Wallethub – prefer the Democratic nominee’s proposals regarding top-bracket personal taxes.
Although her own financial history has also come under fire, Clinton’s proposals regarding taxation of the wealthy – including a 4 percent surcharge on incomes above $5 million, effectively creating a new top income bracket of 43.6 percent – resonated convincingly with respondents.
Clinton’s plans were favored by 67.8 percent of them, compared with 32.1 percent who favored Trump’s plans to cut the top income bracket from its current level of 39.6 percent to 33 percent.
Tellingly, the numbers get worse for Trump when the candidates’ names are taken out of the polling process. When the details of the plans were presented to respondents, but not the names of the candidates proposing them, 70.35 percent favored Clinton’s proposals and only 29.65 percent sided with Trump.
That’s not the only bad news for Trump in the Tax Fairness Survey, which in addition to the presidential candidates’ proposals assesses respondents’ opinions on tax-code complexity, income-tax structure and the “fairness” of current tax laws, among other tax-related topics.
The Republican nominee took another gut-punch regarding his corporate tax proposals, with 71.47 percent of respondents approving Clinton’s plan to keep the current 35 percent corporate tax rate and only 28.53 percent supporting Trump’s proposal to cut the corporate tax rate to 15 percent.
As was the case with the personal-tax proposal, when the candidates’ names were removed from the corporate-tax polling, the numbers skewed further in Clinton’s favor: 72.5 percent supported the Democratic nominee’s proposal, with Trump’s support dropping to 27.5 percent.
Other key findings in the Tax Fairness Survey:
· 90 percent of respondents believe income from investments should be taxed at least as much as wages.
· More than half of respondents (56.74 percent) view “tax fairness” as more important than “whatever is best for the economy” (22.63 percent) and “tax equality” (20.63 percent).
· Respondents view income and corporate taxes as “least fair” and alcohol and tobacco taxes as “most fair.”
· Only about a quarter of respondents (26.27 percent) support a flat income tax.
· More than three-quarters of respondents rate the current tax code as either “complex” or “extremely complex.”
The complete survey results are available here.