Nobody likes to pay taxes and most people think they pay too much. But some of us would actually be willing to pay more taxes if we could be assured that the money would be spent on truly valuable programs.
What we are willing to pay more for varies depending on when you were born.
Related: The 10 Best States for Taxes in 2015
Here are three things Americans are willing to pay more for, according to a new Bankrate.com report released Thursday:
Free Education
Forty-three percent of millennials said they are willing to pay higher taxes in exchange for free college tuition for all students.
The average cost of tuition and fees for the 2014-2015 school year was $31,231 at private colleges, $9,139 for state residents at public colleges and $22,958 for out-of-state residents attending public universities, according to the College Board. That does not include room and board.
Related: 26 Most Overlooked Tax Deductions
Better Infrastructure
For senior citizens, the most important thing is infrastructure. They told Bankrate.com they would be willing to pay higher taxes if that money would support repairing and rebuilding roads, bridges and mass transit.
Our infrastructure is indeed in dire need of an upgrade. An estimated $3.6 trillion investment would be needed by 2020 to fix it, according to The American Society of Civil Engineers’ 2013 report card.
Free Health Care
Although our country has made progress on the path to having universal health care because of the Affordable Care Act, we’re still far away from free health care like they have in many European countries.
Still, 22 percent of all Americans surveyed would welcome higher taxes if that would lead to free health care for anyone who needs it.
What about you? For what would you be willing to pay more taxes? Please comment below.
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