Effectiveness of higher income earners tax cuts at stimulating the economy

Sep 22, 2020

Q. The federal government is considering bringing forward tax cuts currently planned for 2022 which will give higher income earners much bigger tax cuts than those on lower incomes.

Which of these options do you most support?

  Total Gender Age Group Federal Voting Intention
  Male Female 18-34 35-54 55+ Labor Liberal + National Greens TOTAL: Other
The government should bring forward these tax cuts to this year 33% 34% 31% 33% 41% 24% 28% 40% 26% 29%
The government should stick to the existing timetable of 2022 29% 31% 27% 40% 25% 24% 29% 31% 28% 26%
The government should scrap these tax cuts and spend the money on other priorities 38% 35% 42% 27% 34% 52% 43% 29% 46% 45%
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)

The government should bring forward these tax cuts to this year 33% 25% 29% 46%
The government should stick to the existing timetable of 2022 29% 24% 33% 27%
The government should scrap these tax cuts and spend the money on other priorities 38% 50% 37% 27%
Base (n) 1,081 359 318 317
  • 33% would support a decision to fast-track tax cuts for high income earners from 2022 to 2020. 29% think the cuts should keep to the existing timetable of 2022, while 38% think they should be scrapped.
  • Fast-tracking the tax cuts has greatest support among those with a high household income (46%), while only 25% of those in a household with a lower income, and 29% of people in a mid-income household.

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