Reason-Rupe has a new survey and report out on
millennials—find the report
here.
Millennials believe that governmentshould
help those in need and aredivided
over income redistribution. However, millennials’ support for
redistribution and social welfare spending decline as they age,
make more money (pay more in taxes), and take on more
responsibilities. Here are several findings from a new
Reason-Rupe report of millennials:
First, millennials’ become more opposed to income
redistribution as their income raises. For instance, among
those making less than $20,000 a year, 53 percent support reducing
income differences while 39 percent oppose. In contrast, once
millennials start making $40,000 a year or more, then support flips
and instead 54 percent oppose redistribution and 40 percent
support. Similarly, those who are employed full-time oppose income
redistribution 54 to 40 percent, while the unemployed favor it 51
to 40 percent.
In similar fashion, support for paying higher taxes
to increase
financial assistance to the poor declines with income and
education. Seventy-one percent of those making less than $20,000 a
year support raising taxes to increase financial assistance to the
poor; this number drops to 47 percent among those making over
$60,000 annually. Likewise, two-thirds of those with high school
diplomas or less support high taxes to expand the safety net,
compared to 50 percent of college graduates.
Intensity of support for
government guarantees also declines with income. For instance, 46
percent of millennials making less than $20,000 a year say the
government “definitely” should guarantee a living wage, compared to
22 percent among those making more than $60,000 a year.
Second, millennials’ support
for large government flips once they learn it requires
high taxes. When tax rates are not explicit, 54% of millennials
favor “larger government providing more services” and 43% prefer
“smaller government providing fewer services.” But once tax rates
are mentioned, support flips. Instead, 57% favor “smaller
government, providing fewer services, with low taxes” and 41% want
“larger government, providing more services, with high taxes.”
(Read more here).
Third, as millennials roll off their parents’ health insurance
plans and begin paying for their own policies, they begin to
solidly oppose paying high premiums to provide for the uninsured
(39% favor and 59% oppose). However, millennials’ whose parents’
pay say they favor the idea of paying more to subsidize covered for
the uninsured (57% favor, 42% oppose). (Read more here.)
Fourth, when millennials learn they may get back less from
Social Security than they contribute, they support changing the
program so younger workers can invest their Social Security taxes
in private retirement accounts. In fact, a majority (51%) would
favor private retirement accounts even if it required reducing
benefits to current seniors, while 45 percent would oppose. (Read
more here).
These data indicate that as millennials find employment, get
promoted, make more money, and pay higher taxes, their support for
activist government may recede. The fact that today a third are
under- or unemployed and a third are living at home indicates
stalled upward mobility, which may in turn bolster support
for increased government action.
To
learn more about millennials, check
out Reason-Rupe’s new report.
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