Accounting Education, Economics Education, and Opinions on Taxing the Wealthy

Determining the appropriate tax rate for the wealthiest citizens is a topic of much debate in the political, social, and economic spheres. Opinions vary considerably. Arguably, accounting and economics are the two collegiate majors of study where the theory of taxation and tax law are most often discussed. Due to higher focus on the topic, students graduating with accounting or economics degrees may have differing views of taxation compared to other graduates. An understanding of these differences has potential implications for policy, pedagogy, and the professions of accounting and economics. Using longitudinal survey data on students from 619 American colleges and universities, the differences in opinions on taxing the wealthy for accounting and economics majors, compared to others, are examined. Accounting and economics majors are found to both begin and end their collegiate tenure with statistically different tax opinions than other majors. Evidence is uncovered that, on average, both programs of study make students somewhat less likely to favor a policy which would increase the taxes paid by the wealthy. Within accounting education, opinion change is more prominent for students from high-earning families, males, non-minorities, and at right-leaning institutions, while the estimated impact of economics education is relatively universal.