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60 Minutes/Vanity Fair Poll

Wealth
January 13-17, 2017

If you had to choose, which would you rather have more spare time, or more money?

Americans would rather have money than time unless theyre already doing well.

Time may be money, but it turns out most Americans would rather just take the cash. When asked
which they would rather have money or spare time 60% say they would rather have money, while
just 38% of Americans would rather have more spare time.

One group disagrees, however: Americans with a relatively significant income to begin with.
Americans value spare time in proportion to the incomes they receive, and a slight majority of those
earning $100,000 a year or more would rather have more spare time (52%) than more money (46%).

Which Would You Rather Have?


Total <$50K $50K-$100K $100K+
Money 60% 67% 55% 46%
Spare Time 38 31 44 52

Which one of the following has the greatest impact on your current financial situation - The free
market economic system, the policies of the government, your own character, your familys
history and values?

Americans tend to think their own character determines their financial situation particularly those with
higher incomes.

Who do you blame if youre not rich? It turns out the top choice of Americans is to blame their own lack
of character. 31% of Americans say that a persons character has the greatest impact on his or her
financial situation, followed by 23% who say its their familys history and values. Fewer pick larger
forces that are harder for one person to control, such as the policies of the government (21%) or the
free market economic system (16%).

Wealthier Americans are more inclined to laud their own character as the secret to their financial
success. 41% of Americans earning $100,000 a year or more say character has the most to do with
wealth or the lack thereof, compared to just 29% of Americans earning less than $50,000 a year.

Which Has the Greatest Impact on Your Finances?


Total <$50K $50K-$100K $100K+
Your own character 31% 29% 32% 41%
Your familys history and values 23 23 22 25
The policies of the government 21 24 23 12
The free market economic system 16 15 19 15
In general, which comes closer to your opinion about wealthy people? Wealthy people are more
likely to be honest and trustworthy because they have no need to cheat and steal, wealthy
people are less likely to be honest and trustworthy because they have less empathy towards
other people, or wealthy people are just as likely to be honest and trustworthy as everyone else.

The rich are just like the rest of us when it comes to honesty.

Though many Americans think that character has a lot to do with financial success, most dont go so far
as to say that wealthy people are more honest and trustworthy than the rest of us. When asked if
wealthy people are more likely to be honest and trustworthy because they have no need to cheat and
steal, just 5% agree, while far more 21% - think instead that they are less likely to be honest and
trustworthy because they have less empathy. 70% of Americans, however, say that wealthy people are
just as likely to be honest and trustworthy as everyone else.

The belief that wealth plays little part in whether or not someone is honest cuts across all income levels,
though Americans earning under $50,000 a year (26%) are more than twice as likely as those earning
$100,000 a year or more (12%) to think wealthy people are less likely to be honest.

Wealthy People Are


Total <$50K $50K-$100K $100K+
Less likely to be honest 21% 26% 18% 12%
More likely to be honest 5 7 4 2
No difference 70 62 77 84

In general, do you think children who inherit great wealth are more likely to lead full and socially
productive lives or are more likely to lack ambition and make bad choices?

Rich kids lack ambition and make bad choices.

What is the effect of inheriting great wealth on the character of children? Most think that effect is
negative. 56% of Americans think that children who inherit great wealth are more likely to lack ambition
and make bad choices, while half as many 28% - think they are more to lead full and socially
productive lives. Income matters little in this evaluation, though Republicans (35%) are a little more
likely to advocate the character advantages of inherited wealth than either Democrats (25%) or
independents (27%).

Children Who Inherit Great Wealth Are More Likely to


Total <$50K $50K-$100K $100K+
Lack ambition & make bad choices 56% 59% 56% 51%
Lead full and productive lives 28 28 29 29
Which one of the following would best help a wealthy person understand someone who was
less fortunate, if they had to experience it at least once in their lives?

Want to understand what it is to be poor? Lower income Americans say give homelessness a try.

If youre wealthy and you want to know what its like to be less fortunate, Americans are divided
between two pieces of advice: try not having a home (41%) or try not having enough food (38%).
Those are the top two choices from a list of four far fewer pick either not having medical care (14%)
or not having clean clothes (2%).

Most Americans are fairly evenly split between these top two options, but Americans with the lowest
annual incomes those earning under $25,000 a year think not having a home (46%) is the best way
to help a wealthy person understand someone who is less fortunate.

Which Would Best Help a Wealthy Person


Understand Someone Less Fortunate?
Total <$25K $25K-$50K $50K-$100K $100K+
Not having a home 41% 46% 39% 40% 43%
Not having enough food 38 28 41 40 46
Not having medical care 14 18 13 13 8
Not having clean clothes 2 1 2 4 *

All other things being equal, which type of person would most likely make the best employee
a struggling single parent who was used to working two minimum-wage jobs, or a young and
ambitious Ivy League graduate fresh out of college.

Americans say an Ivy League degree is no guarantee of a good work ethic.

When it comes to being a good employee, most Americans think being poor and struggling may have
its merits. When asked who would make the best employee a struggling single parent used to
working two minimum wage jobs, or a young Ivy League graduate fresh out of college seven in ten
pick the struggling parent. Even a slight majority of college grads agree with this sentiment (58%),
though they are more likely to see the value in a recent Ivy League graduate (25%) than are those
without a college diploma (17%).

Who Would Make the Best Employee?


Total No Degree College Degree+
A struggling single parent 71% 77% 58%
A young Ivy Leaguer 19 17 25
If you were suddenly given a million dollars that you had to spend within a week, whats the first
thing you would do with the money?

If they got a financial windfall, Americans are most likely to pay off debts or give it away.

What would you do if you were suddenly given a million dollars that you had to spend in a week?
When Americans are asked that question, the top two answers are to donate it, give it away, or use it in
some way to help others (26%), and using to pay off debts including student loans and mortgages
(26%). Another 16% would use it to buy a house or other property (16%).

Younger adults are pretty evenly divided between these three options, while Americans 45 and older
and particularly those 65 and older are increasingly likely to give it away. And when it comes to
income, Americans earning the least are the most likely to donate or give their money to others.

What Would You Do with $1 Million if You Had to Spend it?


Total <$50K $50K-$100K $100K+
Pay off debts/student loans/mortgage 26% 20% 38% 34%
Donate/give it away/help friends & family 26 29 18 21
Buy a house/property 16 21 14 11

_________________________________________________________________________________
This poll was conducted by telephone from January 13-17, 2017 among a random sample of 1,014 adults
nationwide. Data collection was conducted on behalf of CBS News by SSRS of Media, PA. Phone numbers were
dialed from samples of both standard land-line and cell phones.

The poll employed a random digit dial methodology. For the landline sample, a respondent was randomly selected
from all adults in the household. For the cell sample, interviews were conducted with the person who answered
the phone.

Interviews were conducted in English and Spanish using live interviewers. The data have been weighted to
reflect U.S. Census figures on demographic variables.

The error due to sampling for results based on the entire sample could be plus or minus three percentage points.
The error for subgroups may be higher and is available by request. The margin of error includes the effects of
standard weighting procedures which enlarge sampling error slightly.

This poll release conforms to the Standards of Disclosure of the National Council on Public Polls.
60 Minutes/Vanity Fair Poll
Wealth
January 13-17, 2017

VF-01. If you had to choose, which would you rather have more spare time, or more money?

***************** TOTAL RESPONDENTS *****************


****************** Income *****************
Total <$50K $50K-$100K $100K+
% % % %

Money 60 67 55 46
Spare time 38 31 44 52
Dont know/no answer 2 2 2 2

VF-02. Which one of the following has the greatest impact on your current financial situation?

Your own character 31 29 32 41


Your familys history and values 23 23 22 25
The policies of the government 21 24 23 12
The free market economic system 16 15 19 15
Dont know/none of them 8 9 4 8

VF-03. In general, which comes closer to your opinion about wealthy people? Wealthy people are more likely to
be honest and trustworthy because they have no need to cheat and steal, wealthy people are less likely to be
honest and trustworthy because they have less empathy towards other people, or wealthy people are just as likely
to be honest and trustworthy as everyone else.

More likely to be honest and trustworthy 5 7 4 2


Less likely to be honest and trustworthy 21 26 18 12
Just as likely to be honest and trustworthy 70 62 77 84
Depends (vol.) 2 3 1 1
Dont know/none of them 2 3 1 1

VF-04. In general, do you think children who inherit great wealth are more likely to lead full and socially productive
lives or are more likely to lack ambition and make bad choices?

Lead full and socially productive lives 28 28 29 29


Lack ambition and make bad choices 56 59 56 51
Depends (vol.) 10 9 10 13
Dont know/no answer 6 3 5 7

VF-05. Which one of the following would best help a wealthy person understand someone who was less fortunate,
if they had to experience it at least once in their lives?

Not having enough food 38 34 40 46


Not having a home 41 44 40 43
Not having clean clothes 2 2 4 *
Not having medical care 14 15 13 8
Dont know/no answer 5 5 2 3
VF-06. All other things being equal, which type of person would most likely make the best employee a struggling
single parent who was used to working two minimum-wage jobs, or a young and ambitious Ivy League graduate
fresh out of college.

***************** TOTAL RESPONDENTS *****************


****************** Income *****************
Total <$50K $50K-$100K $100K+
% % % %
Struggling single parent 71 76 77 53
Young Ivy Leaguer 19 18 13 27
Depends/no difference (vol.) 7 4 8 14
Dont know/no answer 3 2 2 6

VF-07. If you were suddenly given a million dollars that you had to spend within a week, whats the first thing you
would do with the money?

Donate/give it away /help family 26 29 18 21


Pay off debts/bills/college/mortgage 26 20 38 34
Buy a house/property/new home/second home 16 21 14 11
Invest/invest in business 9 8 10 10
Tithe/give to Church 6 5 6 6
Buy a new car/truck/boat 3 4 2 3
Travel/vacation 3 3 3 4
Set up college fund/scholarship 2 1 3 2
Save/bank 2 3 2 2

Other 6 6 6 7
Dont know/no answer 1 1 1 *

Total respondents: 1,014