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CV NEWS FEED // Americans’ confidence in the economy and their financial stability has increased in anticipation of Donald Trump’s second term as president, according to RealClearPolling.
“The latest Economist/YouGov poll, conducted after the election Nov. 17-19 with 1,595 U.S. adults, found only 18% of respondents said they are better off financially now than they were a year ago, while 38% said they are worse off. Looking ahead, the numbers reversed: 39% said they expect to be better off financially in a year, while only 18% anticipated being worse off,” RealClearPolling reported.
The shift was largely driven by Republicans. The percentage of Democrats who said they thought they would be better off financially a year from now was roughly the same as the percentage of Democrats who said they were currently better off financially compared with a year ago.
“Among Republicans, only 11% said they improved their financial position over the past year, but 60% predicted improvement in the year ahead,” RealClearPolling reported, noting that the S&P 500 and cryptocurrencies have also seen a rise since the election.
Another poll asked participants how they felt about several of Trump’s financial and economic policies. There was a general balance between supporters and opposers. Thirty-seven percent were in favor of imposing a 60% tariff on Chinese imports, while 42% opposed it. Another 42% supported imposing a 10% on all imported goods, compared to 39% who opposed the measure.
Respondents generally supported a “commission to audit the federal government and cut government spending,” with 65% supporting and 19% opposing it. The respondents also overwhelmingly supported cutting out taxes on tips, with 71% in favor and 17% against it.
