[The Viewpoint of Dongki Kim] Trump’s Republican Party Becomes the Party of the Economically Disadvantaged

About 15% of Voters Earning Less Than $50,000 Shifted to Trump
Overwhelming Support for Trump Among Those Facing Economic Hardship
Harris Leads by 7% Among College-Educated White Voters

Donggi Kim, author of The Power of the Dollar and attorney

Trump has returned. Some call this a shock, but it is not that surprising. Since COVID-19, supply chain disruptions have driven up prices, causing many incumbent presidents or ruling parties in various countries to lose elections recently.

One of the few exceptions is Morena, the ruling party in Mexico. Voters worldwide were anxious, frustrated, and desired change. However, it is difficult to attribute Trump’s recent victory solely to COVID-19.

Above all, it is important to note the significant shift in the demographic supporting Trump’s Republican Party. For the first time in history, in this election, the Democratic Party gained a substantial number of votes from wealthier groups. According to exit polls, among those earning over $100,000 annually, more than 15% shifted to the Democratic Party compared to the election four years ago. Conversely, nearly 15% of voters earning less than $50,000 annually moved toward Trump. This group was most concerned about job security recently and pessimistic about their household economic situation.

This election was fundamentally a contest between the economy and democracy, with abortion rights and illegal immigration becoming secondary issues. These four issues operated differently across divided voter groups, ultimately deciding the election outcome. However, economic issues were the most important. About 30% of voters prioritized the economy, among whom Trump’s support was about 80%, while Harris’s was about 20%. Voters experiencing economic hardship overwhelmingly chose Trump.

Meanwhile, the impact of differences in race, gender, and education level on the election also deserves attention. Among college-educated white voters, Trump had a 3% lead in the 2016 election, but this time Harris led by 7%. Among non-college-educated white voters, Trump maintained a lead of over 30% with little change. Among college-educated voters of color, the Democratic Party had a 50% lead in 2016, but Harris only secured a 33% lead this time.

Among non-college-educated voters of color, the Democratic Party had a 56% lead in 2016, but this time it was only 30%. Among college-educated white women, the Democratic Party had a 7% lead in 2016, which expanded to 16% this time. However, these were not large shifts, indicating that the influence of gender and abortion issues was limited. Among non-college-educated white women, Trump maintained about a 27% lead as before.

Regional differences also intensified. In the early 1990s, there was almost no difference in party vote shares in non-urban areas. However, from the mid-1990s, the Republican Party began to gain an advantage, which widened to about 40% by 2024. Compared to 2016, the Democratic lead in urban areas decreased from 30% to 20%, and Democratic support also declined in suburban areas while Republican support slightly increased.

In this election, Trump struggled in areas with many white-collar workers compared to the 2020 election but performed well in areas with many blue-collar workers. Trump was also strong in economically weaker regions. Historically, the Democratic Party has dominated regions producing more than half of the U.S. Gross Domestic Product (GDP). This time, the regions where Harris led accounted for 60% of U.S. GDP production, while Trump’s leading regions accounted for only 40%.

In summary, the Democratic Party failed to secure support from relatively powerless groups. Although it claimed to have focused on and achieved results on issues such as inequality, social issues, and discrimination, voters thought differently. Trump’s Republican Party has now become the party of the economically disadvantaged. It is expected to revive the U.S. economy for their benefit and pursue a foreign policy that prioritizes America. A strong wave of change will also sweep across the Korean Peninsula.

Kim Dong-gi, author of The Power of the Dollar and attorney