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40% Of Americans Think Their Finances Won't Be Affected Under President Trump

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40% Of Americans Think Their Finances Won't Be Affected Under President Trump

A survey by Bankrate found that close to 40 percent of Americans believe the results of the U.S. election won't have any impact on their finances.

According to Bankrate's survey, 28 percent of respondents believe a Donald Trump White House would have a positive effect on their finances, while 26 percent believe they will be worse off financially. The remaining 39 percent feel that Trump's presidency will make no difference either way.

Taxes

More than one in three surveyed expect to benefit financially from tax cuts, but one in four surveyed believe changes to the tax code will make them worse off.

Income And Expenses

Aside from taxes, those who believe they will be better off financial cited high income. On the other hand, those surveyed cited higher expenses in the future as another reason for being pessimistic.

Political Bias

Naturally, political bias was a motivating factor in the survey. Almost six out of every 10 Republicans polled are expecting a positive impact to their finances as opposed to fewer than one in 10 Democrats.

"Inherently, there's going to be a certain level of bias based on who I voted for," said Thomas Cooke, professor at Georgetown University's McDonough School of Business. "If I voted for Donald Trump, I'm generally going to express more optimism about my future, whereas if I voted against Mr. Trump, I'm more pessimistic, more skeptical of things going down," he explained.

 

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Posted-In: BankrateEducation Politics Top Stories Economics Media Personal Finance General Best of Benzinga

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