News You Might Have Missed:
Why Americans Vote ‘Against Their Interest’: Partisanship: Working-class Americans who voted for Donald J. Trump continue to approve of him as president, even though he supported a health care bill that would disproportionately hurt them.
Highly educated professionals tend to lean Democratic, even though Republican tax policies would probably leave more money in their pockets. [New York Times, 4/12/17]
Democrats are still ignoring the people who could have helped them defeat Trump, Ohio party leaders say: One by one, members of the Mahoning County Democratic Party poured out their frustrations: Just months after the presidential election, they felt folks like them were being forgotten – again. The party’s comeback strategy was being steered by protesters, consultants and elitists from New York and California who have no idea what voters in middle America care about.
But worst of all, they said, the party hadn’t learned from what they saw as the biggest message from November’s election: Democrats have fallen completely out of touch with America’s blue-collar voters. [Washington Post, 4/5/17]
Top Frustrations With Tax System: Sense That Corporations, Wealthy Don’t Pay Fair Share: A majority of Americans now view the federal tax system as unfair, including similar shares of Republicans and Democrats. But partisans differ in their concerns about the tax system, with Democrats far more likely than Republicans to express frustration that some corporations and wealthy people don’t pay their “fair share.” [Pew Research, 4/14/17]
What in the World Is Causing the Retail Meltdown of 2017?: There have been nine retail bankruptcies in 2017-as many as all of 2016. J.C. Penney, RadioShack, Macy’s, and Sears have each announced more than 100 store closures. Sports Authority has liquidated, and Payless has filed for bankruptcy. Last week, several apparel companies’ stocks hit new multi-year lows, including Lululemon, Urban Outfitters, and American Eagle, and Ralph Lauren announced that it is closing its flagship Polo store on Fifth Avenue, one of several brands to abandon that iconic thoroughfare.
A deep recession might explain an extinction-level event for large retailers. But GDP has been growing for eight straight years, gas prices are low, unemployment is under 5 percent, and the last 18 months have been quietly excellent years for wage growth, particularly for middle- and lower-income Americans. [The Atlantic, 4/10/17]