Many higher-earning and better educated Americans believe that a President Joe Biden would be better for the U.S. economy but worse for their wallets. The question is: How will they vote in November?
According to a new survey conducted as part of the University of Michigan’s Survey of Consumers, half of all Americans in the top 10% of the income distribution (households taking home at least $185,000) believe that Biden would be better for the economy than President Donald Trump, compared with 30% who think the incumbent would be better and 20% who think it makes no difference.
Most Americans lower down the income scale say that Trump would be slightly better for the economy, or that there isn’t a meaningful difference between the two candidates. Overall, 37% think Trump would be better, 33% think Biden would be better, and 29% are indifferent.
Similarly, a slim