Economy · 12 posts
Brief 8h ago

Trump's Working-Class Numbers Are Bleeding. The Policies Better Be Real.

A CNN/SSRS poll from late March shows Trump's approval among white non-college graduates has flipped underwater — 49 percent approve, 51 percent disapprove. A separate survey of nearly 2,000 Trump voters found one in five won't back a Republican in 2028, and pollsters say that departure is "concentrated among his working-class voters."

The White House answer: a TrumpIRA executive order, "no tax on tips" folded into the One Big Beautiful Bill Act, a proposal to ban mega investors from buying single-family homes, and a credit card rate cap floated in January — and apparently stalled. Said Senator Elizabeth Warren in a letter to bank regulators: "The president's deadline is long past, the big banks have predictably refused to act, and Americans still face average credit card interest rates of roughly 25 percent."

Vanderbilt political scientist Larry Bartels put it plain: "These voters are not reading policy briefs... They will respond to how their lives feel at the time of the election." Housing, groceries, gas — all still climbing. The boardroom hasn't blinked. Working folks are watching.

Source: Newsweek Opinion 2026MidtermsAffordabilityEconomy
Brief 17h ago

California Stuck Its Small Businesses With a $20 Billion Tab

While every other state used federal stimulus money to pay down its unemployment insurance debt, California spent it elsewhere — and now employers are eating the bill. California businesses will pay a 5.2% payroll tax, nearly nine times the rate in debt-free states, according to the California Business Roundtable.

Said State Senate Minority Leader Brian Jones: "Businesses that survived shutdowns, kept employees on payroll, and held their communities together will pay for Gavin Newsom's failures." California's Employment Development Department also paid out an estimated $20 billion in fraudulent unemployment claims during the pandemic — money gone, debt real, nobody held accountable.

Small businesses — 99.8% of all California businesses, supporting 7.6 million jobs — are first in line for the hit. Rob Lapsley of the California Business Roundtable warned the per-employee penalty could eventually top $400 if the debt isn't resolved. The tab got run up in the boardroom of state government. Main Street is being handed the check.

Source: New York Post EconomyAffordabilityFederalism
Brief 17h ago

LA County Wants a Billion More — With Zero Strings Attached

The LA County Board of Supervisors voted 4-1 to put Measure ER on the June 2026 ballot — a half-cent sales tax that would push rates past 10.25% countywide, the highest sales tax burden in the nation. The county projects $1 billion per year in new revenue, all flowing into the general fund with no legally binding restrictions, no independent audits, and no enforceable accountability.

Sound familiar? The city tried this play in 2022 with Measure ULA, the so-called mansion tax. Supporters promised up to $1 billion annually for housing. It pulled in $280–$350 million — and a Harvard, UC San Diego, and UC Irvine study found that between 63 and 138 percent of that revenue was wiped out by lost future property tax receipts. The tax may have cost the city money.

Said Aidan Chao, Chairman of the LA County Taxpayers Association: "You cannot ask families already paying over ten cents on the dollar and facing a cost-of-living crisis to hand another billion dollars annually to a general fund with no strings attached." A March poll put opposition at 47%. The boardroom always wants more. Working folks are done writing blank checks.

Source: New York Post EconomyAffordabilityFederalism
Brief 22h ago

Prices Are Still Crushing Working Families. Who's Cashing In?

Grocery bills, rent, and prescription costs haven't come down for most working families — and the political class is starting to sweat it. According to RealClearPolitics, a stagnant economy and cost-of-living crisis are shaping up as the defining threat to Republican margins heading into 2026.

The pattern is familiar: corporations post record profits while real wages stay flat. The S&P 500 hit all-time highs in 2024 even as the Bureau of Labor Statistics reported that real median weekly earnings for full-time workers were essentially unchanged year-over-year.

Main Street doesn't need a think-tank report to know the score. When the boardroom is winning and the checkout line still hurts, voters remember — and they hold whoever's in charge accountable, regardless of party.

Source: realclearpolitics.com AffordabilityEconomy2026Midterms
Brief 22h ago

Braddock Lost 90 Percent of Its People. The Republic Owes It a Reckoning.

Braddock, Pennsylvania — a steel town that once fed this nation's industrial spine — has shed nine in ten of its residents over the decades, according to a recent account from the town's former mayor. What deindustrialization and neglect built there is a monument to what happens when Washington serves the boardroom and forgets the mill.

The Founders understood that a republic rests on the dignity of its working people, not on the comfort of distant creditors. Lincoln called labor the superior of capital. When whole communities hollow out and stay hollow, the question is not whether the market spoke — it is who rigged the auction.

The long memory of the American experiment does not forget Braddock. Duty demands we ask which policies, which trade deals, which captured regulatory agencies wrote that town's obituary — and whether we have the honor to write something different.

Source: realclearpolitics.com LongMemoryLaborEconomy