We are witnessing one of the most critical presidential elections of all time. What issues impacting personal finances were most important to Americans in the 2020 election?
The survey arm of the financial website, The Motley Fool, recently polled their readers for what financial issues they thought were most important to them in this election.
Here is what they found:
A coronavirus stimulus plan was the most important financial issue to Americans in the 2020 election.
The most divisive finance issue in the 2020 election was economic inequality. 83% of Biden voters said it’s important, and 74% of Trump voters said it’s important.
72.19% of American adults think the result of the election is going to impact their personal finances.
One-third of American adults thought a Biden victory would have been better for their personal finances.
29.20% of American adults thought a Trump victory would have been better for their personal finances.
The percentage of respondents who said that each issue was important or very important in the 2020 election:
- Coronavirus stimulus plans: 81.20%
- Taxes: 80.10%
- Social Security: 79.80%
- Mortgage interest rates: 78.80%
- Economic inequality: 78.60%
- National economy (including jobs): 77.65%
- Cost of healthcare: 76.40%
- Loan and credit card interest rates: 75.90%
- Minimum wage: 72.80%
- Savings interest rates: 71.35%
- Cost of childcare: 62.55%
The respondents of the survey felt that Joe Biden was more likely to have a positive effect on every financial issue, except mortgage interest rates. In that area, Donald Trump received an advantage of 0.35 percentage points.
The largest difference that the researchers saw was in the cost of childcare. 46.95% of respondents felt that Biden was more likely to have a positive effect on these costs, while 29.65% were confident that Trump would have a more positive effect. This was a difference of 17.30 percentage points.
What financial issue was most important to you this election? Please reply using the comments below.