OECD Survey Results: More Taxes on the Wealthy!

OECD Survey Results: More Taxes on the Wealthy!

A recent survey released by the OECD shows that a majority in the twenty-one countries examined would like to see higher taxes levied on their country’s wealthy.
 
As reported by Reuters, “a strong majority of people in wealthy countries want to tax the rich more and there is broad support for building up the welfare state in most countries.”
 
More specifically, the twenty-two thousand people surveyed as part of the 2018 The OECD Risks that Matter survey were posed the question, “Should the government tax the rich more than they currently do in order to support the poor?” with an average of 68 percent responding in the affirmative.


Source: The 2018 OECD Risks That Matter Survey
 
Figures were predominantly higher for both Portugal and Greece, where close to 80 percent of those surveyed supported higher taxes on the rich.

OECD Countries Unhappy with Social Welfare

Furthermore, in most countries, participants expressed their discontent with the amount of social welfare they have access to, including health and housing services.
 
According to the OECD report, “more than half say they do not receive their fair share of benefits given the taxes they pay,” while “nearly three out of four people say they want their government to do more to protect their social and economic security.”  
 
More specifically, the report found that “an average of almost 40% say they would be willing to pay an extra 2% of their own income in taxes for better health care and pensions.”


Source: The 2018 OECD Risks That Matter Survey 

Furthermore, “respondents in Ireland are the most likely to say they would be happy to pay more in tax for better health care (51%), followed by Portugal (49%), Greece and Chile (both 48%),” while “respondents in Israel (49%), Chile (51%) and Lithuania (53%) are the most likely to say they would be prepared to pay an extra 2% more in tax for better pensions.”
 
Referring to the results, OECD Secretary-General Angel Gurría said, “This is a wake-up call for policy makers.”
 
He added: “OECD countries have some of the most advanced and generous social protection systems in the world. They spend, on average, more than one-fifth of their GDP on social policies. Yet, too many people feel they cannot count fully on their government when they need help. A better understanding of the factors driving this perception and why people feel they are struggling is essential to making social protection more effective and efficient. We must restore trust and confidence in government, and promote equality of opportunity.”
 
As described by the OECD, “The OECD Risks That Matter survey is a cross-national survey that examines people’s perceptions of social and economic risks and how well they think government addresses those risks. The survey, conducted for the first time in two waves in the spring and autumn of 2018, draws on a representative sample of 22 000 people aged 18 to 70 years old in 21 OECD countries: Austria, Belgium, Canada, Chile, Denmark, Estonia, Finland, France, Germany, Greece, Israel, Ireland, Italy, Lithuania, Mexico, the Netherlands, Norway, Poland, Portugal, Slovenia and the United States.”
 
You can download the full report HERE.
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