70% Believe Higher Corporate Taxes Will Lead to Higher Consumer Prices

If taxes on companies are raised, 70% of voters believe that the businesses will pass on the higher costs to consumers by raising prices on their products. A Job Creators Network/ ScottRasmussen.com poll found that just 10% would accept lower profit margins and 20% are not sure.

The expectation that higher taxes on business would lead to higher prices is shared by 60% of voters under 50 and 79% of older voters (see question wording and crosstab results).

The survey also found that 64% believe that higher taxes would make companies more likely to lay off workers rather than expand their workforce. Fifty-one percent (51%) think companies would likely reduce their investment in future growth to compensate for the higher taxes. Just 24% disagree.

Overall, 19% believe that higher taxes on businesses would be good for the economy while 51% believe the tax hikes would be bad for the economy. Sixty percent (60%) of Republicans believe the tax hikes would hurt the economy. So do 56% of Independent voters and 44% of Democrats.

The national survey of 1,124 Adults was conducted November 12-13, 2018 by ScottRasmussen.com and HarrisX, a polling company specializing in online surveys (see Methodology and the demographic profile of our sample). It has a 3.1 percentage point Margin of Error with a 95% level of confidence.

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Neither Scott Rasmussen nor ScottRasmussen.com has any relationship with Rasmussen Reports® (see About Us).

Posted in Poll Results

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