American optimism on the economy is usually reaching brand new heights along with also President Donald Trump’s approval ratings look to be benefiting, at least somewhat.
The CNBC All-American Economic Survey found of which for the 1st time in at least 11 years, more than half of respondents to the survey rated the economy as not bad or excellent, while a near record 41 percent expected the economy to improve from the next year.
“We’re not measuring a marginal change from the economy, we’re measuring a different economy,” said Public Opinion Strategies’ Micah Roberts, the Republican pollster for the survey. The poll of 800 adults across the nation, which has a margin of error of 3.5 percentage points, was conducted Dec. 10-13 by of which firm along with also Democratic pollster Hart Research.
The survey found of which 42 percent of Americans expect their wages to rise from the next year, along with also 41 percent of homeowners see their home values going up, the highest level recorded since 2007. In 2011, while the country remained in an economic funk by the financial crisis, just 15 percent of homeowners thought their home prices would likely rise.
“2017 is usually the year of which Americans finally put the recession behind them in terms of their attitudes about the economy, along with also the item took a change in leadership” to make the item happen, said Roberts.
Trump’s approval rating has mostly been disconnected by the better economic data although of which could be changing. With gross domestic product rising strongly the past two quarters along with also the unemployment rate remaining low, Trump’s approval rating has jumped.
Forty-two percent from the poll approve of the job Trump is usually doing as president, up 4 points by the September survey, while 49 percent disapprove, down 3 points. The president’s net negative rating of minus 7 (approval minus disapproval) is usually half of what the item was from the summer along with also his best showing since taking office although still weak for such a strong economy.
The president has made the best strides with members of his own party, up 10 points by last quarter to an 83 percent approval rating. White men along with also women along with also people from the South along with also Midwest give the president net positive approval ratings, although he is usually underwater with every major income along with also educational demographic from the poll.
“Whether the item is usually due to the Russia investigation, the gangbusters economy, his talk of tax cuts … or some combination of these along with also additional factors, his base is usually digging in,” said Jay Campbell of Hart research.
The president’s approval numbers are substantially better on the economy. Forty-seven percent approve of his handling of the economy, up 4 points by September, while 43 percent disapprove, up 2 points. For the 1st time during the Trump presidency, more than half of independents approved of the president’s economic stewardship. The president also enhanced his standing with women along with also blue- along with also white-collar workers.
What could still be hurting the president is usually his signature tax plan, which is usually widely unpopular. The GOP tax plan polls poorly across nearly every demographic, with even support by Republicans tepid at best at 56 percent.
Only 26 percent of Americans approve of the plan while 38 percent disapprove. although 36 percent — more than the percentage who support the bill — say they actually don’t know enough about the item, suggesting some possibility for Republicans to grow support. One place to start would likely be their own party: 34 percent of Republicans say they don’t know enough to give the plan a thumbs up or down. Every income group shows net disapproval of the bill although also large numbers of “don’t knows.”
Campbell says the confusion stems by the complexity of the tax bill along with also the frequent amendments. The result: An increasing number of Americans don’t believe they’ll even get a tax cut. In fact, 70 percent of the public believe their taxes from the next couple of years will either stay the same or increase. The 35 percent who believe their taxes will go up represents an 8-point increase by last quarter.
A net 33 percent of Democrats believe their taxes will rise, along which has a net 16 percent of independents. By an 11 point margin, Republicans believe their taxes will go down. Still, 20 percent of Republicans believe higher tax bills are in their future along with also 39 percent believe they will stay the same. So roughly 60 percent of even Republicans don’t believe they are getting a tax cut.