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Generation Gap: What’s worth our tax dollars?

November 14, 2012 Leave a comment

With the “fiscal cliff” looming and potential tax increases on the horizon, it’s interesting to see where Americans of all ages agree (and where they don’t) when it comes to their hard-earned dough being divvied up by the government.

No big surprise, most Americans (71.2%) would rather shrink the size of government than raise taxes. Members of the Boomer Generation (75.9%), Silent Generation (75.2%), Gen X (70.5%) and Gen Y (61.9%) agree. But where should the government cut back?

Members of Generation Y appear most likely among the age groups to opt for a tax increase instead of cutting public services (police, education) or social programs (welfare, Medicare). The Silent Generation seems to agree, while the middle generations are mixed:

Although all generations appear willing to support education and safety, the majority of Gen X and the Boomers would prefer the budget for social programs like welfare get a trim before their paychecks.

Perhaps Gen Y is more likely to support higher taxes because most prefer to be unemployed! Over half (55.2%) say they would rather be unemployed and happy than be employed and miserable. While happiness is great, older generations are more likely to cope with misery if it means food on the table and shelter for their family:

It seems the Boomer Generation is the most likely to opt for employment even if it means unhappiness—perhaps they are housing some unemployed and happy members of the youngest generation!  🙂

Source: American Pulse™ Survey, October 2012 #1, N = 3529

© 2012, Prosper®

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Generation Gap: Withdrawing Trust

October 9, 2012 1 comment

Do you trust your bank? Or do you stash your cash inside the mattress? We asked Americans how they felt about their personal bank and the federal banking system. Nearly 3 in 4 (73.8%) said they can count on their local bank while fewer (39.4%) put stock in the U.S. banking system as a whole. Interestingly, trust levels vary by generation:

It seems as though older Americans have more trust in their local bank while youngsters are more trusting of the United States banking system as a whole, compared to other generations.

Gen Yers are also more optimistic that recently announced lower interest rates will help the economy. 31.1% of these young adults are more or much more confident in the housing market as a result of the Fed’s interest rate adjustment. 25.3% say the same about the economy overall along with 23.1% who show a boost of confidence in the job market. Members of Gen X, just one generation older, are less likely to be confident in all three areas:

Perhaps Gen Y is more confident because this age segment is the most likely to take advantage of lower interest rates. 61.2% of members of Gen Y plan to make some type of life change as a result of the Fed’s announcement: 22.4% say they are likely to buy a car, 20.9% are in the market for a home and 20.5% plan to go [back] to school. Most members of older generations do not plan to make any life changes at this time.

For more fresh insights on American consumers, including confidence in the economy, expectations for gas prices and even Election 2012 updates, be sure to check out the complimentary American Pulse™ InsightCenter!

Source: American Pulse™ Survey, September 2012 #2, N=3282

© 2012, Prosper®

The Award for Best Portrayal of an Ideal Model Family Goes to…

March 28, 2012 1 comment

I remember watching it on TV like it was just last night. Theo sauntered down the steps with his hat and sunglasses on, lip-syncing “Night and Day” by Ray Charles all while the Huxtable family danced in concert in front of him. And when Little Rudy stole the spotlight (“Baby, Baby!”), the live audience roared.

The Cosby Show was a staple in my household growing up in the ‘80s. My sister and I were allowed to watch it because it featured what my mom considered to be a good, wholesome family. Fast forward 25+ years and it seems that the Huxtables are still viewed as the consummate household… According to a March American Pulse™ Survey, the award for best portrayal of an ideal model family goes to—The Cosby Show. Honorable mentions notably go to Modern Family and Home Improvement.

It’s interesting to look across the generations to see which TV family is perceived to be ideal. Gen Xers, Boomers and the Silent Generation alike all list The Cosby Show as portraying the essence of the American family. (Gen Y votes for Modern Family.) But shows like Father Knows Best and Leave it to Beaver pop up among the Silent folks (admittedly, I’ve never watched a single episode of either). And Home Improvement is a popular choice among Gen X and Boomers, while Gen Y is more likely to list Full House.  I would have to disagree with the latter as I tend to prefer Uncle Jesse John Stamos post-Full House (and post-Beach Boys for that matter).

In the the same American Pulse survey, respondents were asked to vote for which TV show best portrays their group of friends. Not surprisingly, Friends tops the list among Adults 18+ followed closely by one of my friends and Gen X cohort’s favorites, The Golden Girls. (As an aside, I wasn’t allowed to watch The Golden Girls growing up, due to content my mom deemed questionable. And my friend got to know the mature clan via the Lifetime Network in college.)

Friends is also top of the list for members of Gen Y and Gen X as the TV show that most closely resembles their inner circle. Big Bang Theory comes in at #2 for both. Adults that fall into the Boomers and Silent Generations are more likely to say Golden Girls and Cheers. As a card-carrying member of Gen X, I noticed a glaring difference of opinion between “us” and Gen Y… Jersey Shore made their top ten for show that most resembles their friends. Scary Interesting to imagine Snooki as my BFF.

For more information on this data, please contact BIGinsight™.

And for additional info from our latest survey:  Blacks, Asians & Hispanics Say Healthcare Reform Will Benefit Majority; Whites Disagree, According to Latest American Pulse™ Survey

Source: American Pulse™ Survey, Mar-2012, N=3892

© 2012, Prosper®

BIGinsight™ is a trademark of Prosper Business Development Corp.

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