Reminder: a majority of the 1% actually get it, and want their taxes raised
by David Atkins
I've written on this topic based on some previous data, but a new poll demonstrates that the problem isn't the entire 1%. It's a very motivated, morally bankrupt and sociopathic minority of the 1%.
In one of the first surveys of its kind, a CNBC poll has revealed that 51% of millionaires in America believe that inequality is “a major problem”, and nearly two-thirds advocate being taxed at a higher rate.
The CNBC Millionaire Survey polled 514 Americans with investable assets of $1 million or more, which is representative of the top 8% of American households. Respondents represented Democrats, Republicans and Independents.
A range of views were expressed, some of them largely in keeping with traditional views. However the headline statistic was that a massive 64% of America millionaires openly say that they should be taxed at a higher rate to help reduce inequality. Almost the same number, 63%, support a higher minimum wage."
Many of the views expressed in the survey were not surprising. For example, when asked to explain the reason for their success, 23% said hard work, 21% said “smart investment” and 18% said saving wisely. Only 10% ranked education as important, and just 1% said “luck” had anything to do with it. Multimillionaires (those worth $5 million or more) ranked “running my own business” as the main reason for their wealth.
In terms of the gender split, women were three times more likely to rank inheritance as the main reason for their wealth, with 15% ranking it as important compared to just 5% of male respondents. Men ranked saving as more important than women, with 20% ranking it as important, compared to 14% of women.
Now, it's entirely possible that the top tenth of one percent are the ones with the most selfish views. It's hard to know.
But it's important to remember that while it's accurate to say that the 1% has hoovered up and is hoarding all the wealth, it's not even a majority of them that are the direct villains of our political story.
It's less than a third of the top one percent. They're the ones causing almost all the problems.
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