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Nearly two-thirds of Americans do not feel better off under President Donald Trump, according to a remarkable new survey released by the Financial Times today.

These findings challenge the political wisdom in Washington DC that the stable economy will prove to be a positive for the President.

Instead, the numbers illustrate that most returns from the growing economy have gone, unsurprisingly, to the richest rather than the middle class.

In the survey of likely voters by the Financial Times and the Peter G Peterson Foundation, 31% of Americans say they are now worse off financially than they were at the start of Mr. Trump’s presidency. Another 33% say they have not felt any positive or negative changes in their financial situation since President Trump was inaugurated in January 2017.

Slow wage growth and family debt were reported as reasons for financial difficulties. Some also blamed Trump’s policies—45% of those polled believed he has not been helpful to the country’s economy.

Only a very narrow demographic, college-educated white men, told pollsters they feel they are better off now than when Trump initially took office in 2016.

It is likely the impact of the President’s tax cuts for the wealthy that has the affluent voter feeling better-off under Trump.