Voters in swing states strongly favor the idea of taxing billionaires to help fund Social Security benefits, as per a new survey.
A majority of voters in seven crucial swing states, amounting to 77 percent, agreed with the concept of increasing taxes for billionaires in order to prolong the existence of Social Security, based on the Bloomberg News/Morning Consult survey. The survey released on Wednesday revealed that 57 percent of those surveyed wholeheartedly approved of raising taxes on billionaires, while 20 percent somewhat supported the notion. Only 15 percent of respondents opposed the idea, and 7 percent were unsure..
The survey was carried out among registered voters in Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania, and Wisconsin.
Furthermore, 56 percent of voters were in favor of implementing a social security tax on earnings beyond the initial $168,600 annually, which would result in higher taxes for those earning more than that amount.
Moreover, voters across surveyed swing states also favored reducing benefits for individuals with higher incomes, with 28 percent of respondents wholeheartedly supporting the idea and 29 percent somewhat supporting it.
According to the survey, Social Security and Medicare rank fifth in importance for voters prior to the 2024 presidential election, following the economy, immigration, abortion, and democracy.
Survey participants indicated that they believe President Biden is more dependable in handling senior services than former President Trump, with 44 percent expressing trust in Biden, 39 percent in Trump, and 16 percent distrusting either candidate's ability to manage senior services.
Biden presented his budget proposal in early March for the upcoming fiscal year, featuring tax reductions for low- and middle-income families, reforms to fortify Medicare and Social Security, and increased taxes on billionaires and individuals earning over $400,000 annually.
Biden unveiled his budget proposal in early March for the coming fiscal year. It called for cutting taxes for low- and middle-income families, reforms to strengthen Medicare and Social Security, and increased taxes on billionaires and individuals who make more than $400,000 a year.
The survey was conducted April 8-15 among 4,969 registered voters in swing states and has a margin of error of 1 percentage point.
