Who’s Better for the Middle Class?
Bubba
17 Sep
Kamala Harris is seen as more of a champion of the middle class than Donald Trump, per a new survey. (Financial Times)
Chart: Financial Times
The latest FT-Michigan Ross poll: 49% of voters said Harris is a better representative for middle class interests, compared to 36% who said the same about Trump.
Harris was also deemed as the better advocate for small businesses (48% to 37%), union members (45% to 35%) and blue-collar workers (43% to 36%).
Trump is viewed as better for large corporations (64% to 20%) and the wealthy (67% to 19%).
When it comes to who voters trust more on the economy, 44% support Harris and 42% back Trump.
Ok, but: 40% of voters think they'd be better off financially with Trump, compared to 35% for Harris.
17% of voters feel financially better under Biden, while 53% say they are worse off.
The plans: There’s been some overlap on Trump and Harris’ economic proposals, as both candidates explicitly target middle class families and workers.
Neither candidate seemed particularly concerned with the sky-high national debt — as Axios’ Zachary Basu noted, “Left unsaid in both Harris and Trump's economic plans is how they will pay for them — a signature characteristic of populism that reflects how both parties treat the deficit while in power.”
Related: A new meta-review found Trump’s economic agenda would increase the net deficit by an estimated $1.9 to $3.2 trillion, while Harris’ plan would reduce it by $2.5 trillion, largely on the back of tax hikes.
American Enterprise Institute senior fellow James Capretta:
The reality for Harris is likely to be challenging, of course. The tax hikes she explicitly and implicitly supports are substantial, and there has been no noticeable enthusiasm for passing them among congressional Democrats. The risk is that, with a Harris win, Congress will expand spending with offsets that fail to prevent a widening of annual budget deficits. It is noteworthy that President Biden had more success securing his spending plans than tax increases.
Trump is more boxed in than Harris because the GOP is institutionally opposed to tax hikes and Trump himself is not interested in spending reforms. He is left with suggesting substantial tariffs and cuts to the Biden administration’s clean energy subsidies as offsets, which are insufficient to cover the full costs of his tax plans.
Bubba’s Two Cents
There's a disconnect between voters seeing Harris as a better advocate for average Americans but still thinking they'd be better off with Trump. Maybe they're buying into her "greedy corporations" rhetoric but doubting she can deliver on her promises. It’s kind of like the recent analyses that show Kamala’s plan would reduce deficits—if she can pass her tax hikes. But as Carpetta points out, it's more likely she'll get the spending through without the taxes, ultimately leaving the country with more debt.