April’s media coverage paints a grim picture of the American economy. Axios reports an 11% drop in the University of Michigan’s consumer sentiment index—the fourth straight month of decline. CNN echoes, citing inflation expectations at a 40-year high and widespread economic despair cutting across demographics. According to the establishment narrative, President Trump’s tariff policy is responsible for crushed confidence, rattled markets, and spooked consumers.

But MIG Reports data shows real-time voter conversations are telling a more layered story. Online discourse shows frustration but also resolve, adaptation, and even pockets of optimism. In contrast to the media’s portrayal of national helplessness, voters are split in their fundamental view of what drives economic security.

Media Narrative: A Disastrous “Confidence Collapse”

Mainstream outlets have tethered April’s consumer confidence plunge directly to Trump’s tariff policies. Axios suggests these moves are pushing the U.S. toward “historic inflation,” while CNN frames the response as universal panic.

The headlines are creating a unified narrative that consumers are worried, inflation is spiraling, and Trump’s economic unpredictability is to blame. There’s no recognition of voter nuance, policy debate, or the deeper roots of economic anxiety. The public is cast not as participants, but as casualties of a reckless experiment.

Online Discourse is Polarized but Purposeful

MIG Reports analysis shows recent online comments are far more complex in their reactions:

• 35% express hope: They view tariffs as leverage to force fairer global trade terms and restore U.S. manufacturing.
• 30% maintain a neutral stance: They focus on real-time data without clear emotional framing.
• 35% are in despair: They see Trump's economy as driven by malpractice, raising costs and eroding middle-class security.

This is not uniform gloom. It’s a contested terrain, where nationalism, economic survival, and distrust of elite narratives intersect. MIG Reports analysis prior to the election showed negativity, particularly among younger voters. According to online sentiment, Americans are worried but not significantly more than they have been in recent months.

Strategic Tariffs vs. Regressive Tax

Supporters frame Trump’s 90-day tariff pause (excluding China) as a calibrated move. They cite market rebound as proof of strategy, not chaos. Meanwhile, Democrats accuse Trump of insider trading.

Critics say Trump's tariff policies function as a backdoor sales tax. Price hikes on essentials—like auto parts and eggs—fall hardest on families. Many accuse the administration of flip-flopping for market timing, citing Trump’s “buy now” messages as signals of insider manipulation.

An insider trading scandal is brewing.

Trump's 9:30am tweet makes it clear he was eager for his people to make money off the private info only he knew. So who knew ahead of time and how much money did they make? pic.twitter.com/AJbtEq372n

— Chris Murphy 🟧 (@ChrisMurphyCT) April 10, 2025

Still, even among critics, there’s recognition that Trump's tactics might work.

Congressional Failure and Institutional Distrust

At the same time, voters are livid with Congress for abdicating its constitutional role in trade policy. Across ideological lines, many now accuse legislators of enabling executive overreach while enriching themselves through insider trading.

While this has been a complaint on the right for many years, in the wake of Trump’s controversial policies, people on the left are beginning to adopt the cry. This causes some conservatives to accuse Democrats of shaping their policy positions on opposition to Trump, rather than pragmatism, logic, or values.

Either way, there's growing momentum behind dramatic institutional reform on:

• Term limits
• Bans on congressional insider trading
• Restoration of tariff authority to Congress

Outside of the tariff conversation, this isn’t anti-Trump sentiment but anti-elite and corruption. In many instances, economic discussions merge with institutional criticism.

Media vs. Voters: Who's Really Out of Touch?

Media outlets are painting a picture of the sky falling. Voters, however, are as divided as ever. While they acknowledge inflation and market swings, they resist the narrative of helplessness. Many see the media as stoking panic for political ends.

The Axios-CNN consensus treats voters as consumers of fear. But the digital public sphere shows Americans seeking agency, searching for reasonable analysis, and demanding accountability—not only from Trump, but from the entire governing class.

In swing-state discussions, Trump still garners strong support, even among those nervous about the economy. Economic pain hasn’t translated into political abandonment. Instead, it has amplified demands for structural correction and realignment.

Claims by some Trump allies and the media that Donald Trump might seek a third presidential term gets negative reactions. Legally, the vast majority of Americans say the idea is dead on arrival. They cite the 22nd Amendment is clear, reiterating that no person shall be elected to the office of the President more than twice.

The idea of a third Trump term has become a psychological and rhetorical device, used by voters to project fears or hopes onto a figure who continues to disrupt the political order. MIG Reports data is unsurprising, showing Americans, regardless of political alignment, overwhelmingly reject the feasibility of a third Trump term.

Do Voters Take the Idea Seriously?

Overall, voters do not take the notion of Trump attempting a third term seriously. Across multiple data sets, 70-95% of discussions dismiss the claim as unrealistic or legally impossible. Voters point out that a third term is constitutionally barred.

Although many voters do not believe it is legally possible, many are still concerned about Trump’s executive behavior, warning his unilateral actions pose a threat to democracy. Around 30% of those discussing this issue take the suggestion seriously. The other 70% brush it off as hyperbolic.

Those who take the claim seriously also tend to be strongly in the opposition camp. Mostly on the left, they warn of authoritarian and fascist tendencies by the Trump administration. On the right, few take the idea seriously but those who do use it as a cudgel to get reactions out of the opposition.

Sentiment Breakdown

Disapproval of the third-term idea is remarkably consistent.

• 80-90% of commenters oppose it outright.
• Approval ranges from 7-25%—although irony and memetic supportive gestures may be included.
• Most approval is concentrated in economic populist spaces.
• For this group, the idea of a third term functions more as a rebellion against establishment consensus than a concrete policy demand.

Voters across ideological lines express exhaustion with the political and ideological divides in America. Many people are looking for mental reprieve, not more conflict. The idea of another Trump presidency, particularly one outside constitutional norms, is viewed as destabilizing, not invigorating, for a clear majority.

Partisan Framing: Fear vs. Function

Left-leaning voices use the third-term rumor to indict Trump as a would-be authoritarian. Phrases like “destroy the Constitution” and “sociopathic dictator” are common. These claims often accompany calls to invoke the 25th Amendment or other institutional remedies. They emphasize a recurring distrust of Trump’s motives and a perceived pattern of executive overreach.

Right-leaning voices, including many MAGA voters, mostly brush off the rumor. When they engage with it, they frame it as either media fabrication or exaggerated liberal hysteria. Their focus is mor on procedurally dismantling institutional norms and tangible performance—jobs, tariffs, and trade balances.

The populist right, in particular, uses third-term language to praise Trump’s disruptive style. They’re not necessarily arguing for a constitutional revision, but applauding his refusal to play by elite rules.

Heightened Rhetoric and Media Amplification

In many voters’ minds, the idea of a Trump third term is more of a trial balloon than a legislative proposal. It tests how voters process anxiety about institutional control, media bias, and cultural polarization. Social media accelerates that dynamic, allowing fringe speculation or jovial memes to reach mainstream audiences.

This discussion is not focused on the 2028 election. It's more geared toward current views of the Trump administration. Voters do not seem to be thinking seriously about a future, hypothetical third term. Rather, the discussion seems trained on Trump's governing style in 2025.

Unease among critics stems from his executive assertiveness, particularly on tariffs and global trade. In every discussion, his economic maneuvering is interpreted either as bold corrective action or as unilateral overreach.

The political center of gravity is shifting with discussions of economic volatility, trade upheaval, and collapsing institutional trust. The traditional imagery of Democrats and Republicans has been coming undone—and Trump’s tariff strategy drives this home.

Democrats, long cast as the champions of labor and working families, are increasingly seen as defenders of elite systems and global capital. Republicans, once synonymous with boardrooms and free-market orthodoxy, are emerging as the party of the working class.

Trump’s tariff strategies strike fear in the hearts of elites who are heavily invested in the stock market. But working-class Americans view Trump’s tactics as a gesture in support of the quality of life they feel has been taken from them over that last 50 years.

Approximately 56% of online conversations now cast the Republican Party as the working-class party. People see Democrats as representing elite, institutional, or financial interests. This inversion is starkly portrayed in public reactions to market and trade dynamics.

Tariffs Represent Working-Class Populism

Working-class voters overwhelmingly support tariffs. They frame them as protective tools that defend American labor, punish adversarial trade partners, and reduce dependency on foreign supply chains. These voters describe Trump’s strategy as a long-denied protection for domestic workers.

Most of this group are not heavily invested in the stock market and, therefore, do not discuss market movements as much. They criticize and even mock the small percentage of elites who wring their hands over market dips, saying the reality of working life exempts them from this dramatic reaction.

The formula used by the administration to calculate tariffs made other nations’ tariffs appear four times larger than they actually are.

President @realDonaldTrump is not an economist and therefore relies on his advisors to do these calculations so he can determine policy.… https://t.co/haPHKrxWOR

— Bill Ackman (@BillAckman) April 7, 2025

Republicans gain credibility with Trump’s bold strategy that is perceived, by many Americans, as forceful and tied to national identity. They say Trump, unlike the empty promises of Republicans past, is affirming economic sovereignty. These voters associate trade disruption with leadership, not recklessness.

In contrast, elite and financially exposed voices are concerned. Some view tariffs as inflationary, others as strategically useful only if temporary. Their focus is on cost structures, global capital flows, and supply chains. The contrast in language is sharp. The working class talks about fairness and jobs. The elite talks about stability and returns.

Financial Markets as a Class Divider

To investors and high-earners, volatility caused by Trump’s policies is unnecessary and dangerous. For boomers and older retirees, it heightens vulnerability. DOGE and crypto deregulation reveal how these groups interpret the same events differently.

Democrats are losing ground with the working class because they are no longer seen as challenging power. Voters view them as stewards of power. Criticism focuses on their alignment with federal institutions, regulatory expansion, and technocratic control over the economy.

Online discussions repeatedly link Democrats to the Federal Reserve, the IRS, and ESG-driven mandates. Many Americans now view these institutions as vehicles for upward redistribution—siphoning from productive sectors and transferring influence to credentialed elites. Voters point to high taxes, regulatory pressure on domestic energy, and complex compliance regimes as evidence.

Democratic rhetoric emphasizes programs and equity frameworks. But voters want their quality of life improved. They want leaders who will push back against systems that have failed to deliver upward mobility. More and more, Democrats offer language that satisfies think tanks and foundation staff, not working parents and tradesmen.

The GOP’s Populist Coalition

The Republican coalition is increasingly animated by action, not abstraction. Americans see tariffs, executive orders, energy deregulation, and the push for permanent legislative codification of Trump-era policies as proof of alignment with the working class.

Supporters don’t care about nuance. They want disruption to the status quo. The GOP’s willingness to target federal programs, reorient global trade, and dismantle administrative bottlenecks reads as strength. This includes moves with real risk—DOGE downsizing, unilateral tariff cycles, and crypto liberalization.

Discussions also show growing internal discipline. There is little patience for GOP members who resist institutional confrontation. Popular sentiment favors party cohesion over consensus-building. The working-class base no longer views procedural bipartisanship as productive. They view it as retreat.

Trump's style of governance—executive-heavy, combative, and symbolic—now defines the party’s populist appeal. The base measures outcomes by defiance and impact.

Class Realignment in Action: Data-Backed Shifts

The party realignment is becoming more defined.

• 56% of conversations across all data sets identify Republicans as the party most aligned with working-class interests.
• 70% of trade-related discussions explicitly credit GOP policies with supporting American labor.
• In Democrat-leaning forums, up to 55% of participants concede that Republicans now communicate more effectively on class-based economic issues.

By contrast, Democrats are repeatedly framed as elite-facing, institutionally captured, and out of touch with economic precarity. Their appeal remains strong among urban professionals and those with investment exposure. But among non-college voters, service workers, and rural communities, the party is hemorrhaging trust.