New Tax Survey: Women more likely to support affordable health care, while men want job creation
OMAHA, Neb.–(BUSINESS WIRE)–If Americans could choose how the U.S. government spends their tax dollars, they’d designate affordable health care (38%) and job creation (36%) as top priorities, according to a new Tax Survey released by TD Ameritrade, Inc. (“TD Ameritrade”), a broker-dealer subsidiary of TD Ameritrade Holding Corporation (NYSE:AMTD). The survey also revealed that the desire for more affordable health care increases with age (35% of Gen Y; 38% of Gen X; 44% of Baby Boomers).
“Over the last quarter, slow and steady job growth and improvements in the housing market have Americans feeling more optimistic that the economy is on the rebound+, but they also want the government to focus on the things that impact them most,” said Carrie Braxdale, managing director, investor services at TD Ameritrade. “And as more and more Baby Boomers enter retirement, quality and affordable health care will continue to be a growing concern among Americans.”
Improving the quality of public education (28%) and improving the quality of health care (24%) were also top priorities, while protecting the environment (16%) and investment in U.S. defense (18%) were at the bottom of the list.
Although men and women were relatively aligned on how government should spend the money it gets from taxes, more men said job creation should be the top priority (42% vs. 31% for women) while more women feel affordable health care should be the top focus (43% vs. 33% for men). Further, men were more likely to favor expenditures on defense (23% vs. 12% for women) and job training (20% vs. 14% for women), while more women want tax dollars used to protect the environment (18% vs. 13% for men), resources for homeless people (16% vs. 10% for men) and alleviating world hunger (13% vs. 7%).
According to the Department of Labor, women make approximately 80 percent of the health care decisions for their families. “Women also typically live longer* than men, so it’s not surprising to see that they want their tax dollars being used to improve health care and make it more affordable,” continued Braxdale.
Man or woman, young or old, one thing is clear – taxes are a big concern for Americans. And it’s no wonder when you consider that 85 percent of investors believe their taxes will be higher by the end of 2013, according to a separate Investor Sentiment Survey by TD Ameritrade.
To help investors, TD Ameritrade’s Online Education Center offers a breadth of research, tools and articles, including this article on Five Strategies for Tax-Efficient Investing.
For more information on the surveys, visit the TD Ameritrade Newsroom, which includes a wide selection of past research studies capturing the pulse of retail investors and independent registered investment advisors on topics ranging from retirement and young money to taxes and general market sentiment. For the latest news and information about TD Ameritrade, follow the company on Twitter, @TDAmeritradePR.
TD Ameritrade does not provide tax advice. We suggest you consult with a tax-planning professional with regard to your personal circumstances.
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