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.
+Source: TD Ameritrade 2013 Outlook Survey
*Source: U.S. Census Bureau
About TD Ameritrade Holding Corporation
Millions of investors and independent registered investment advisors (RIAs) have turned to TD Ameritrade's (NYSE: AMTD) technology, people and education to help make investing and trading easier to understand and do. Online or over the phone. In a branch or with an independent RIA. First-timer or sophisticated trader. Our clients want to take control, and we help them decide how — bringing Wall Street to Main Street for more than 36 years. TD Ameritrade has time and again been recognized as a leader in investment services. Please visit TD Ameritrade's newsroom or www.amtd.com for more information.
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Tax Survey Methodology
An online survey was conducted among N=1,000 Americans 18+ years old from November 16-17, 2012, by Head Research on behalf of TD Ameritrade, Inc. Sample was drawn from major regions in proportion to the U.S. Census. The statistical margin of error for overall survey results in this study is +/- 3% (assumes panelists do not differ from non-panelists, and respondents do not differ from non-respondents). This means that, in 19 out of 20 cases, survey results for questions based on all survey respondents (N=1,000) will differ by no more than 3% in either direction from what would have been obtained by measuring the opinions of all adult Americans. Baby Boomers = born 1946 to 1964; Gen X = born 1965 to 1976; Gen Y = born 1977 to 1989
Investor Sentiment Survey Methodology
1,022 investors participated in an online survey conducted by Research Now on behalf of TD Ameritrade Holding Corporation from Jan. 2-10, 2013 and offered their views on economic conditions and outlook for the market in general. These investors have at least $10,000 in investable assets, own securities in brokerage accounts, are 18 years or older, are involved in managing their portfolios, and have traded securities at least once in the past 12 months. The 1,022 survey respondents represent a random sample of investors selected from a consumer panel of individuals in the U.S. who have access to the Internet. The margin of error in this survey is ±3.0%. This means that in 19 cases out of 20, survey results based on 1,089 respondents will differ by no more than 3.0 percentage points in either direction from what would have been obtained by seeking the opinions of all eligible individuals in the U.S. who are online.
+About the 2013 Outlook Survey
An online survey was conducted among N=1,000 Americans 18+ years old from November 16-17, 2012, by Head Research on behalf of TD Ameritrade, Inc. Sample was drawn from major regions in proportion to the U.S Census. The statistical margin of error for overall survey results in this study is +/- 3% (assumes panelists do not differ from non-panelists, and respondents do not differ from non-respondents). This means that, in 19 out of 20 cases, survey results for questions based on all survey respondents (N=1,000) will differ by no more than 3% in either direction from what would have been obtained by measuring the opinions of all adult Americans.
About Head Research
Head Research is a division of Head Solutions Group (U.S.) Inc., a leading market research partner for Financial Services companies in North America. With offices in New York, Toronto and Montreal, Head delivers the deep customer insights that increase institutional knowledge and propel business action. Head Research is separate from and not affiliated with TD Ameritrade, which is not responsible for its policies and services.
About Research Now
Research Now is the leading global online sampling and online data collection company. With over 6 million panelists in 38 countries worldwide, Research Now enables companies to listen to and interact with real consumers and business decision makers in order to make key business decisions. Research Now and TD Ameritrade Holding Corporation are separate, unaffiliated companies and are not responsible for each other's products and services.
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Source: TD Ameritrade Holding Corporation
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