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Generational Differences In Attitudes Toward Deficit Reduction Policy

Author

Listed:
  • Monique O. Durant
  • Mary McCarthy
Abstract
In an effort to understand the generation gap as it is manifested in attitudes toward current tax policy, this study compares survey responses from experienced tax professionals and inexperienced undergraduate tax students applied to the most effective tax and budgetary changes to reduce the federal deficit. The authors created the survey from tax students’ suggestions after a semester (Spring 2011) of reading tax-related articles in an international business journal. At the end of that semester, the authors requested suggestions from students for changes to the federal tax code (revenue) and budget (spending) and incorporated them into a survey to which students during that semester and the next two semesters responded. In July 2012, the authors asked a group of experienced tax professionals to respond to the survey. The authors found significant variation in a few predictable areas. Results include findings that the Millennial generation is less conservative on social issues, and favors Social Security reform and reduced defense spending.

Suggested Citation

  • Monique O. Durant & Mary McCarthy, 2013. "Generational Differences In Attitudes Toward Deficit Reduction Policy," Accounting & Taxation, The Institute for Business and Finance Research, vol. 5(1), pages 71-84.
    • Handle: RePEc:ibf:acttax:v:5:y:2013:i:1:p:71-84
    as

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    References listed on IDEAS

    as
    1. Gilens, Martin, 2001. "Political Ignorance and Collective Policy Preferences," American Political Science Review, Cambridge University Press, vol. 95(2), pages 379-396, June.
    2. Michael B. Berkman & Eric Plutzer, 2004. "Gray Peril or Loyal Support? The Effects of the Elderly on Educational Expenditures," Social Science Quarterly, Southwestern Social Science Association, vol. 85(5), pages 1178-1192, December.
    3. James M. Poterba, 1997. "Demographic structure and the political economy of public education," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 16(1), pages 48-66.
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    More about this item

    Keywords

    Federal Tax Policy; Age Gap; Generation Gap; Millennials; Tax Code; Federal Budget;
    All these keywords.

    JEL classification:

    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus

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