Impact of Proposed Policies on Economy
Consumers were asked whether the economic policies debated by the presidential candidates would benefit or harm prospects for future growth in the overall economy. The September 2020 survey repeated questions on trade policies, immigration, and taxing the wealthy to reduce income inequality which were asked prior to the 2016 election. In 2020, a new question on how a Universal Basic Income policy would affect the overall economy was added. The prime takeaway is that policies on trade and immigration moved in the opposite direction from Trump’s policies, especially on immigration. Taxing the wealthy to lower inequality was mainly seen as improving growth prospects, but a Universal Basic Income was more likely to be viewed negatively. Opinions about both income redistribution proposals were mainly driven by partisan ideology.
For more information and to view the current release please visit the Survey of Consumers.