Effectiveness of higher income earners tax cuts at stimulating the economy

Q. Thinking about tax cuts which benefit higher income earners, which of the following statements is closer to your views?

	Total	Gender		Age Group			Federal Voting Intention
		Male	Female	18-34	35-54	55+	Labor	Liberal + National	Greens	TOTAL: Other
Tax cuts for higher income earners are very effective at stimulating the economy because people will spend the additional money	21%	24%	18%	23%	28%	13%	17%	27%	12%	20%
Tax cuts for higher income earners are only moderately effective at stimulating the economy because only some of the additional money will be spent	41%	41%	40%	52%	38%	33%	36%	45%	45%	38%
Tax cuts for higher income earners are not effective at stimulating the economy because people will save and not spend any additional money they receive	38%	35%	42%	25%	34%	54%	47%	28%	43%	42%
Base (n)	1,081	539	542	338	374	369	298	460	115	104

 

	Total	Household Income
		TOTAL: Lower Income (Up to $51,999 per year)	TOTAL: Mid Income ($52,000-$103,999 per year)	TOTAL: Higher Income (More than $104,000 per year)
Tax cuts for higher income earners are very effective at stimulating the economy because people will spend the additional money	21%	18%	24%	23%
Tax cuts for higher income earners are only moderately effective at stimulating the economy because only some of the additional money will be spent	41%	34%	39%	49%
Tax cuts for higher income earners are not effective at stimulating the economy because people will save and not spend any additional money they receive	38%	48%	37%	27%
Base (n)	1,081	359	318	317

• One in five people (21%) believe tax cuts for higher income earners are very effective at stimulating the economy. 41% think they are only moderately effective at stimulating the economy and 38% believe they are not effective.
• Even among living in household with an annual income of over $100k, just 23% think these tax cuts would be very effective at stimulating the economy, while 49% say they would be moderately effective and 27% say they would not be effective