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Tariffs, Capital Gains Taxes, & the Debate: Where Voters Stand on the Candidates’ Economic Policies

September 11, 2024
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Tariffs, Capital Gains Taxes, & the Debate: Where Voters Stand on the Candidates’ Economic Policies

Last night’s presidential debate, notably, featured jabs and attacks from both sides over immigration, the 2020 election, and abortion. There were also some significant remarks traded between the two candidates on each other’s economic policies, with Kamala Harris criticizing Trump’s policies while he was in office and Trump, in turn, repeatedly tying Harris to President Biden and his unpopular policies. Where do these types of messages leave trust among voters? What do voters believe, and where do they place their trust in the economy? In this blog, we’ll take a look. 

The weeks leading up to the first and only presidential debate have been a whirlwind, with both candidates taking stances on major issues like abortion and immigration and laying out potential policies—particularly on the economy.  

Over the past year, the US economy has weighed heavily on voters’ minds, and not in a good way. The Fall 2024 Resonate Voter Trends Report showed that voters are feeling squeezed by high prices and that concerns over costs and household budgets will directly affect how Americans vote in November. A significant 65% of voters are “moderately to extremely concerned” about the economy, and an even higher percentage—85%—think the economy will take either seven months or longer to get back to where it was or that it simply won’t stabilize at all. The same report also shows that voters increasingly blame the government for the rise in prices, with 34% blaming Joe Biden personally. 

Suffice to say, the finger pointing at Washington DC means Kamala Harris and Donald Trump have their work cut out for them. Trump needs to show he’s the man who can ease the cost burden on Americans. Meanwhile, Harris needs to separate herself from Biden’s unpopular public image. 

As both candidates have tried to achieve these and other goals, the big questions are: Is it working? What do the voters really think?  

Resonate identifies eligible segments of voters using our AI-powered data engine, rAI, which synthesizes information from our continuously updated voter study with behavioral data. In the summer Voter Landscape Report, for instance, we used rAI to pinpoint 10 voter segments—including Gen Z—that will be essential to winning the 2024 presidential election.  

We also have the ability to monitor those segments of voters closely and see how their sentiments change week over week. This is crucial in this election, where, it seems, something new (and often unexpected) happens nearly every day.  

Economic policy will be a key issue that can help shape voter trust. Let’s look at a few key segments from the Voter Landscape Report to learn more about where the opportunities for growth are. 

Cyber Crusaders present the largest opportunity for growth for Democrats. Based on the data, a successful strategy should emphasize digital economy advancements, innovation, and equitable growth policies. You can reinforce trust with this audience by presenting them with concrete plans to expand technology-driven job creation and protect data privacy. 

Cynical Centrists and Money-Minded Undecideds have shown slight positive shifts in the Democratic direction, making them crucial swing groups. Campaigners can address their concerns by focusing on pragmatic, fiscally responsible policies like reducing inflation and supporting small businesses. 

Gen-Z Zealots, however, show some erosion in their trust of the Democratic Party, suggesting a need to address student debt, housing affordability, and future job markets more effectively. Emphasizing opportunities for younger generations in a sustainable economy could regain their confidence. 

Cyber Crusaders and Money-Minded Undecideds offer Republicans opportunities for retention. Trump should highlight his track record on business growth, deregulation, and job creation to maintain momentum with these groups. 

Gen-Z Zealots and National Debt Hawks have slightly decreased trust in the Republican Party. To prevent further losses, a focus on responsible fiscal management, reducing national debt, and ensuring a stable economic future may resonate well. 

To learn more about each of these groups, where they stand on the issues, and how to target them effectively to win their votes, read the Voter Landscape Report now. 

Ready to see the difference partnering with Resonate will make for your campaign? Schedule a consultation today.