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Home » Survey on fixed-amount tax cuts Are fixed-amount tax cuts really effective as a measure against rising prices? The number one way to use extra income is for living expenses

Survey on fixed-amount tax cuts Are fixed-amount tax cuts really effective as a measure against rising prices? The number one way to use extra income is for living expenses

[Survey on fixed-amount tax cuts] Are fixed-amount tax cuts really effective as a measure against rising prices? The number one way to use extra income is for living expenses
*Web Crew Co., Ltd.*
Press release: July 9, 2024
**
[Survey on fixed-amount tax cuts] Are fixed-amount tax cuts really effective as a measure against rising prices? The number one way to use extra income is for living expenses
Webcrew Co., Ltd. (Headquarters: Setagaya-ku, Tokyo, President and CEO: Yoshitaku Fujishima), which operates “MoneyFix,” conducted a “survey regarding flat tax reductions” targeting “friends of MoneyFix’s official LINE account.” did.

Investigation background
A fixed amount tax reduction was implemented in June 2024. According to the government, this was implemented as a “temporary measure to overcome deflation in order to ease the burden on the people whose wage increases have not kept up with price increases,” but what is actually going on?

This fixed tax reduction will provide a flat tax reduction of 40,000 yen per person, including 30,000 yen in income tax and 10,000 yen in resident tax. However, if your annual income exceeds 20 million yen (income 18.05 million yen), you will not be eligible for the fixed tax reduction. Additionally, if there are dependent relatives in the household, an additional 40,000 yen per person will be reduced in tax.

At MoneyFix, we investigated how to use the increased income from fixed tax cuts and whether people think fixed tax cuts are useful as a countermeasure against inflation.

Survey results topics
・The number one way to use temporary income from fixed tax reduction is “living expenses” at 41.6%
・11.9% think it is effective as a measure against inflation, 18.0% feel it is insufficient
・82.6% of those who want the fixed tax reduction to continue next year

→ Click here for detailed survey results
https://moneyfix.jp/media/article-20240706-2/

[Details of survey results] How can I use the fixed amount tax reduction?

Regarding how to use the temporary income from the fixed tax reduction, the most common answer was “use it for living expenses” (41.6%), followed by “save savings” (29.2%) and “I haven’t decided in particular” (26.6%).

[Details of survey results] Are flat tax cuts useful as a measure against inflation?
When asked whether they ever feel inflation, the majority of respondents answered “yes” (82.7%).

Regarding whether they think fixed tax cuts are effective in combating inflation, approximately 60% of respondents had a positive opinion, with 11.9% saying “I think it is effective” and 46.0% saying “I think it is better than nothing.”

Negative opinions included “I feel it’s not enough” (18.0%) and “Cash payments are better than tax cuts” (24.1%).

[Details of survey results] Do you want the fixed tax reduction to continue next year and beyond?

When asked whether they would like the fixed tax reduction to continue beyond next year, the majority of respondents answered “yes” (82.6%).

Although the fixed tax reduction was implemented as a temporary measure, there are strong calls for continued tax reduction in anticipation of continued high prices.

[Details of survey results] What is everyone’s opinion on the fixed amount tax reduction?
We asked respondents in an open-ended question about their thoughts on fixed-amount tax cuts. I will introduce both positive and negative opinions.

* [Positive opinion] *
・I’m sure there are many different opinions, but I think it’s better than nothing. I’m sure there will be some complaints about any proposal, so I think it’s important to give it a try, see the situation again, and make changes.
・I am grateful because we are a family of five. I hope it continues. I would like to see measures taken to make the world a better place and make everyone happy.
・This was a good opportunity to seriously think about taxes, and I think this fixed tax reduction is very effective when thinking about politics.

* [Negative opinion] *
・I feel that the lower the income, the more difficult it becomes. I am a little dissatisfied with the fact that the tax reduction amount is the same as those with salary income of 10 million yen or more. ・I think it’s better than nothing, but I don’t think this tax cut will change our lives. I don’t really understand what the purpose of this measure is, other than to increase the annual savings or investment amount a little.
・I appreciate the tax reduction, but I think that measures such as requiring companies to fill out their pay slips do not take into account the effort on the company’s part at all. Instead, I feel it would be more effective to clarify how members of Congress use their money and ask them to reduce wasteful spending.
-I work in accounting, and considering the burden on the company due to one-off policies, I think it would be better to distribute benefits to individuals.

Survey overview
Questionnaire regarding fixed amount tax reduction
[Survey implementation company] Web Crew Co., Ltd.
[Survey period] June 14, 2024 (Friday) to June 20, 2024 (Thursday) [Survey method] Survey on MoneyFix’s LINE official account
[Number of people surveyed] 1,297 people

■Terms of use
You may freely reproduce the figures, tables, and text in this article, but only if you meet all of the usage conditions below. -Please clearly indicate the name “MoneyFix” as the source of the information. ・When using on a website, please place a link to the MoneyFix top page as the source.
URL: https://moneyfix.jp/

About “MoneyFix”
“MoneyFix” is a media that supports various financial decisions in life. We back up people’s decisions by providing the latest
money-related news and unique data that shows the choices people in similar situations are making.
We are entering an era in which individuals can create their own personal assets. However, when it comes to building assets, decisions about money are often difficult, such as “What kind of financial product is right for me?” and “How should I save for education expenses?” MoneyFix provides the latest financial information, information that shows what kind of people are building their assets, what kind of financial products they choose, and other people’s choices. , to help you make difficult financial decisions.
URL: https://moneyfix.jp/concept/

About MoneyFix’s LINE official account
MoneyFix’s official LINE account provides money information that Yasuko Manei, the mother of the Manei family, who is the official character of MoneyFix, has learned.
We also conducted a survey campaign with special benefits for those who became friends on LINE.
→Click here to add friends to MoneyFix’s LINE official account (https://lin.ee/0iMLahP)
*About details about this release*
https://prtimes.jp/main/html/rd/p/000000381.000002830.html

*Download press release materials*
https://prtimes.jp/im/action.php?run=html&page=releaseimage&company_id=2830&release_id=381


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