Are Independent Voters Prepared to Ride Out Tariff Uncertainty?

People shopping
Photo by Getty Images on Unsplash. Unsplash+ License obtained by editor.
Created: 07 May, 2025
2 min read

Editor's Note: This piece originally published on The Independent Center's website and has been republished on IVN with permission from the organization.

 

The stock market has been extremely volatile following President Trump’s new tariff regime. As Wall Street reacts with sharp declines, the administration defends the move as a necessary step to address what it calls a trade deficit “emergency.” Prominent Republicans have echoed this justification, framing the turmoil as a temporary setback in pursuit of long-term economic benefits.

Zooming In

But for millions of independent voters, short-term pain isn’t just uncomfortable—it’s unsustainable. A 2024 survey found that nearly half of all Americans agree or somewhat agree with the statement: “I am living paycheck to paycheck.” Surprisingly, this includes about 20% of households earning more than $150,000 annually. That statistic reveals a deeper issue: financial precarity is now a reality for a significant slice of the population, not just lower-income earners.

In the words of the late economist John Maynard Keynes, “In the long run, we are all dead.” Waiting for long-term gains may not be a viable option for those already struggling to get through the month.

Key Facts

  • The new tariffs are projected to raise the prices of essential goods, from groceries to household items.
  • CNBC estimates show price hikes across items Americans rely on daily, tightening the squeeze on already stretched budgets.

Projected cost hikes under tariffs.

  • Small businesses, which account for a large portion of U.S. employment, often lack the cash reserves to weather economic turbulence. When market uncertainty rises, they suffer from delayed contracts and hesitant customers.
  • The 2024 survey underscores the fragility of American household finances, even among high earners.

Independent Lens

The irony is hard to ignore: the GOP’s electoral success was built in part on promises to fix affordability issues. Americans voted for a government they believed would ease the cost of living, not exacerbate it.

The domestic fallout from tariffs is already being felt in wallets and balance sheets across the country. For a population where a significant share lives on the financial edge, the promise of “long-term gain” feels like a gamble they simply cannot afford.

How long Americans are willing—or able—to wait for that promised payoff is the real question. For many, the answer may be not long at all.

IVP Donate

Related articles

Person holding up a cannabis plant.
On Top of New Tariffs and Proposed Vape Ban, Calif. Cannabis Retailers Also Face an Excise Tax Hike
SACRAMENTO, CALIF. - As California’s legal cannabis industry heads into the second half of 2025, sto...
16 Apr, 2025
-
3 min read
Cargo ship and harbor with a picture of the globe in the water.
Trump's Trade War: When Bad Economics Makes Good Politics
Last week, Americans ...
14 Apr, 2025
-
1 min read
cannabis plant
Tariffs and Vape Ban Could Push California’s Cannabis Market Further Underground
California’s legal cannabis industry, long weighed down by high taxes and regulation, is facing new ...
11 Apr, 2025
-
3 min read

Latest articles

Gavel on judge's desk.
Lawsuit Challenges Independent Voter Suppression under Closed Primaries in Maryland
A new lawsuit filed Wednesday by the Open Primaries Education Fund along with the law firm, Angor, Rapaport, & Skainy (DATRS), asserts that Maryland is violating its own constitution and the voting rights of nearly 1 million independent voters in the state by denying them access to taxpayer-funded primary elections....
28 May, 2025
-
3 min read
Time Square in the background with should you have to join a party to vote in caption.
Want Fair Elections in New York City? Ranked Choice Isn’t Enough Without Open Primaries
A lot of people are talking about democracy reform in New York City, especially since the implementation of ranked choice voting. But while ranked choice voting in party primaries is novel, let’s be honest: it’s not “small-d” democratic. The fact is, the general election still uses a plurality voting system, which means candidates don’t need to win a majority, they just need more votes than anyone else....
28 May, 2025
-
4 min read
Picture of the Texas State Capitol Building in Austin.
Texas Legislature Passes Statewide Ban on Hemp-Derived THC; Bill Heads to Governor Abbott
A sweeping bill to ban hemp-derived THC products in Texas is now headed to Governor Greg Abbott’s desk after final legislative approval. On May 26, the Texas Senate voted 25–6 to concur with House amendments to Senate Bill 3 (SB3), clearing the last procedural hurdle for the legislation....
27 May, 2025
-
4 min read