Many millionaires support a wealth tax — as long as they aren’t getting hit by the tax themselves. Here are the results of our Q4 Millionaire Survey.
A majority of millionaires support a wealth tax on those worth $50 million or more, but their support declines for a tax on those worth $10 million, according to a new poll.
Democratic candidate Elizabeth Warren's tax plan includes a tax of 2% on wealth over $50 million and 6% over $1 billion. Fifty-nine percent of millionaires said they would support a new federal tax on wealth over $50 million, according to the Q4 CNBC Millionaire Survey. Democratic presidential candidateForty-eight percent opposed a wealth tax on those worth over $10 million.
As for their own tax burden, most millionaires feel like they pay enough already. Fully 60% feel they pay their fair share of taxes, and a third believe they pay more than their fair share. Republican millionaires are more likely to feel they pay enough or too much.
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