Americans' Preferences for Tax Increases and Spending Cuts
9 Pages Posted: 18 Jul 2013 Last revised: 26 Sep 2013
Date Written: April 8, 2013
We conducted a survey to assess Americans’ preferences for revenue increases and spending cuts. A representative sample of 1,000 Americans completed the survey in December 2012. Respondents had a specific deficit reduction goal: cut the projected 2022 deficit by $900 billion, or by two-thirds. Approximately $2.1 trillion in savings were available. Our results suggest that Americans are willing to accept higher taxes and significant cuts to military and non-defense discretionary spending but are much more protective of Social Security and Medicare. This article explains the design of the survey, discusses the results, and compares those results with current deficit reduction proposals.
Keywords: Budget Survey, Fiscal Policy, Tax Policy, Deficit Reduction
JEL Classification: K00, K34
Suggested Citation: Suggested Citation