Trump’s millionaire voters are losing faith: CNBC’s Millionaire Survey
/ Published on Tuesday, 27 Jun 2017 16:51 PM
President Donald Trump is losing support among millionaires, who increasingly worry about government dysfunction.
CNBC’s Millionaire Survey found that 45 percent of millionaire respondents voted for Trump, compared with 41 percent for Hillary Clinton. (The survey respondents were 39 percent Republican, 24 percent Democrat and 35 percent independent).
Yet when asked to rate Trump’s first 100 days, Trump ranked 38 overall on a scale of 1 to 100.
And when analyzed by “pro-Trump” and “anti-Trump” attitudes, 50 percent of millionaires are now anti-Trump, while only 29 percent are pro-Trump, according to the poll. Only 21 percent have mixed views. That means that some of the millionaire voters who voted for Trump have become “anti-Trump.”
“He’s an unconventional president, and I think many of these voters are still getting used to that,” said George Walper, president of Spectrem Group, which conducts the survey. “And I think that the hopes for tax reform and health-care reform faded a bit.”
When asked about the biggest risk to the economy over the next 12 months, government dysfunction ranked first, at 38 percent. Millionaires also said government dysfunction is the biggest threat to their personal wealth.
They said the most important issue Trump should address is health-care reform, which was tied with government dysfunction.
Trump’s election has spurred wealthier Democrats to put their money where their politics is. More than 1 in 4 Democratic millionaires have donated to a political PAC or candidate or party as a result of the election. One in 5 has participated in a political march, while 19 percent have given more to charity.
Millionaires gave Trump good grades on national defense and business deregulation and terrorism. They gave him the lowest marks on health-care reform, government dysfunction and national debt.
The survey was done in May and polled 750 respondents with investible assets of $1 million or more nationwide.