Stduents at the UTS campus in Sydney. Brendon Thorne/Getty Images Sentiment on social media is running against key measures in the federal budget, according to deep analysis by monitoring group Meltwater.
The key negative sentiments in social media comments are about tax cuts and funding for education and the prospect of higher fees at university.
About 500,000 taxpayers got removed from the 37% second top marginal tax rate by lifting the 32.5% tax level threshold to $87,000 from $80,000. However, those earning more than $87,000 also get the benefit of the bracket creep fix.
Many commented on social media that the cuts were more for the rich than for helping middle income earners.
Turnbull's budget has nothing for the poor and needy but plenty of tax breaks for the rich. There's no new money… https://t.co/xCEFxocJWB
— matte rochford (@matte_rochy) May 4, 2016
#budget2016 fails the homeless, public health, education, age pensioners & the bottom 90%. Biz wins tax cuts to invest in offshore tax haven
— Mike Ballard ⚓️⚓️⚓️⚓ (@MIKEBALLARD4) May 4, 2016
Turnbull says there's no help for young homebuyers in #budget2016 because they should just ask their parents to help pic.twitter.com/T3rNiUPrFy
— Josh Butler (@JoshButler) May 4, 2016
The sentiment was tracked on social media from the day after the budget to today.
For the latest analysis, Meltwater looked at over 8,500 news reports and 105,00 social media mentions leading up to the budget, the night of the budget and the morning after.
Meltwater uses natural language processing to rate words as negative, neutral or positive. Based on which words appear, how often and proximity to one another, the platform automatically generates a sentiment tag.
Issues are tracked using full text from all Australia’s major national, metropolitan and regional publications as well as online news sources. Meltwater also listens to and analyses conversations across social media platforms in Australia, including Twitter, Facebook, YouTube and Instagram.
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