President Donald Trump gestures toward journalists shouting questions as he departs the White House May 29, 2018 in Washington, DC.<\/p>\n
Win McNamee | Getty Images<\/p>\n
President Donald Trump is the favorite candidate of America's millionaires and his support seems to be strengthening. But there is a catch: in a head-to-head match up he would lose to Democratic candidate Joe Biden in the next Presidential election.<\/p>\n
Asked which candidate they support for president in 2020, 36% of millionaires named Trump, up from 32% in May, according to the Q4 CNBC Millionaire Survey. The second-favorite candidate is former Vice President Joe Biden, with 14%. Sen. Elizabeth Warren came in third, with 8%. The survey was conducted before Michael Bloomberg entered the race.<\/p>\n
Millionaire support for Trump has also grown over the past three years. In mid-2016, Trump trailed Hillary Clinton by 13 points among millionaires. Of millionaires today who have donated to a campaign, the largest number 39% have donated to Trump.<\/p>\n
Still, their support for Trump and their all-important donor dollars depends in large part on who he faces in 2020. When asked who they would support in one-to-one match-ups, Joe Biden beats Trump 48% to 41%, according to the survey. Biden would even get 18% of Republican millionaire votes in a Trump-Biden match-up.<\/p>\n
The only other Democratic candidate who beats Trump among millionaires is Pete Buttigieg, who edges past Trump 46% to 43%. Trump easily beats both Bernie Sanders and Elizabeth Warren among millionaires.<\/p>\n
While the most popular answer from respondents on the question of the issue they will vote on in 2020 was voting Trump out of office, representing 29% of survey takers, that illustrates the extreme partisan divide consistent with past surveys. It was 32% in the Spring 2019 Millionaire Survey. Other issues typically popular with Republican voters split support, including the economy (17%), immigration (10%), \"draining the swamp\" (7%) and taxes\/government spending (6%).<\/p>\n
The main reason millionaires back Trump is the economy. Nearly half say he is good for the economy, versus a third who say Biden would be good for the economy. More than 60% said Sanders and Warren would be bad for the economy.<\/p>\n
\"The race is so fluid right now,\" said George Walper, president of Spectrem Group. \"The only constant is Trump.\"<\/p>\n
Walper said that 20 years ago, millionaires would have been much more predominantly Republican. But today they are more reflective of an evenly divided American public.<\/p>\n
Democratic presidential hopefuls Former Vice President Joe Biden (L) and Massachusetts Senator Elizabeth Warren arrive onstage for the fourth Democratic primary debate of the 2020 presidential campaign season co-hosted by The New York Times and CNN at Otterbein University in Westerville, Ohio on October 15, 2019.<\/p>\n
Nicholas Kamm | AFP | Getty Images<\/p>\n
\"Geography and who they are is more important than wealth when it comes to their political views,\" he said.<\/p>\n
Millionaires remain cautious on the economy and markets for next year. A third think the economy will be the same, while 40% say it will be weaker and 28% say it will be stronger. Democratic millionaires are far more pessimistic, with 62% saying it will be weaker.<\/p>\n
On the stock market, the largest number 38% say the S&P 500 will be up 5% to 10% next year, with 19% predicting it will be even stronger and 20% predicting it will be flat.<\/p>\n
The CNBC Millionaire survey polls more than 700 respondents with investible assets of $1 million or more, including 301 Republicans, 200 Democrats and 247 independents. Respondents had to be the financial decision-maker or share jointly in financial decision-making within the household. The survey is conducted twice a year, in the spring and fall.<\/p>\n
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Trump gains support among millionaires but would lose to Biden in head-to-head, CNBC survey finds - CNBC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" President Donald Trump gestures toward journalists shouting questions as he departs the White House May 29, 2018 in Washington, DC. Continue reading