It seems like the country is completely divided on who to make president, but when it comes to our personal finances we’re completely united — in our skepticism.
The majority of Hillary Clinton and Donald Trump supporters are not confident that in the next four years, the wealth gap will decrease, unemployment will go down, wages will go up, or homes will get more affordable, according to a survey from GOBankingRates.com.
We really don’t think either major candidate is good enough to fix our economic problems. When it comes to the wealth gap, 83 percent of Clinton supporters and 84 percent of Trump supporters don’t believe the wealth gap will narrow.
There’s some history to back that up. According to the nonprofit research group Urban Institute, from 1963-2013, wealthy families have only gotten richer over the past 50 years — while lower-income families stayed roughly the same or have seen things get worse.
A similar number distrust Clinton and Trump on housing policy. Eighty-one percent of Clinton fans and 76 percent of Trump fans don’t think homeownership will become more affordable any time soon. Again, it’s probably based on what we’ve seen.
“Having endured a massive housing bubble, as well as the worst financial crash since the Great Depression, Americans are skeptical owning a home will be cheaper in the next four years,” the GoBankingRates.com survey says.
We’re somewhat more optimistic about jobs, but still in surprising lockstep: 60 percent of Clinton supporters and 61 percent of Trump supporters aren’t convinced that unemployment levels will decrease.
Both candidates have promised more job creation if they’re elected, but neither candidate’s supporters actually believe it. But here, people seem to be rejecting recent history. When President Barack Obama entered office, the unemployment rate was at nearly 10 percent. As of September 2016, it’s been cut in half to 5 percent, according to the Bureau of Labor Statistics.
There is still plenty of divide
While both parties aren’t so confident about unemployment going down, some groups are more positive than others when it comes to wages. And in fact, this is the financial topic we’re most optimistic about, especially among Democrats.
Forty-six percent of Clinton supporters think employee wages will increase over the next four years, while only 37 percent of Trump supporters do — one of the biggest differences. Clinton has said many times throughout her campaign that she wants the minimum wage increased to $15 an hour.
When the overall numbers between the two camps are fairly close, when each major financial issue is broken down into age, income, and gender, we see bigger gaps. For example, older millennials believe in Hillary Clinton’s $20 billion job plan. But among younger millennials, 64 percent of Clinton supporters and 66 percent of Trump supporters don’t believe the unemployment rate will improve.
Among Trump supporters, 93 percent of those earning $100,000 to $150,000 aren’t confident that the wealth gap will close, while 78 percent of those making between $75,000 and $100,000 aren’t confident.
Still, we’d like to end on a positive note. It turns out that the older the voter, the more confidence they have the income gap between the rich and the poor will shrink.
“The most confident who believe that the wealth gap will decrease in the next four years generally cluster around the ages of 45 to 64 for both candidates’ supporters,” the report says.
Article last modified on August 8, 2017. Published by Debt.com, LLC . Mobile users may also access the AMP Version: What Clinton and Trump Supporters Have In Common - AMP.
Article last modified on August 8, 2017. Published by Debt.com, LLC .