Wealthy Conservatives Quickly Losing Faith In Donald Trump, Many Rich Republicans Won’t Re-Elect Him

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Donald Trump had promised to drain the swamp, but one of the biggest criticisms against him has been that far from draining it, Trump has reinforced the establishment in Washington. His staff is full of people from Wall Street while traditionally powerful lobbyists continue to have a major say on American policy. This has led to a widespread belief that the Trump administration is catering primarily to the American elite, but a new CNBC millionaire survey shows that he is fast losing support where it matters the most.

According to the survey, which is conducted by Spectrem Group and aims to analyze how the affluent think in America, nearly forty percent of American millionaires who voted for Trump in 2016 say that they won’t re-elect him now. Just 34 percent of all American millionaires say they will vote for Trump if the election was held today. Twenty percent of survey takers said they think that the Republicans will not even field Trump in 2020 and appeared to instead place more faith in vice president Mike Pence, while eight percent respondents even claimed that Ohio Governor John Kasich will be the next Republican nominee.

This is the first-of-its-kind evidence showing Trump losing supporters among people who are most likely to fund his re-election campaign. It will come as bad news for the president, especially as one of the first things he did after entering the White House was to give the ultra-rich massive tax cuts.

The CNBC survey was conducted by analyzing the investment attitudes and behaviors of 750 investors with $1 million or more of investable assets. Among the survey takers, nearly 40 percent of the people identified themselves as Republicans, 25 percent as Democrats and the rest as Independents. Trump, as much as he likes to boast about his support among the poor, uneducated people, is mostly dependent on rich Republicans donating to the GOP as well as his campaign for the 2020 election. But it appears that despite Trump’s decisions on immigration, foreign policy and healthcare, rich Republicans are quickly losing faith in Trump leading the 2020 GOP presidential campaign.

Among Democrats, the field seems to be as divided when it comes to choosing a leader. Democratic millionaires seem to have reached no consensus on who could represent them in the next election, but former vice president Joe Biden garnered the most support, with nearly 38 percent millionaires who identify as Democrats saying that they would vote for him if he contests in 2020.