Home inFOCUS A Changing America (Fall 2026) Most Americans Still Believe in Land of Opportunity, Far Fewer Support Capitalism

Most Americans Still Believe in Land of Opportunity, Far Fewer Support Capitalism

Cato Institute • Fall 2026
SOURCE
Voters fill in their ballots at a polling station in New York City.
Voters fill in their ballots at a polling station in New York City. (Photo: Imago)

Cato Institute Fourth of July / America 250 Survey

A national survey conducted by the Cato Institute in collaboration with Morning Consult ahead of July 4th and the national celebration of America’s 250th anniversary found that a majority of Americans (74%) still believe the American Dream is available to them personally, but only about half (52%) have a favorable view of capitalism. Notably, views on socialism were evenly split (37% to 37%) between those who see it favorably and those who do not.

The American Dream: 74% still believe the American Dream is available to them personally. Grateful: 86% grateful to be Americans. Proud: 79% proud to be Americans. Founding principles: 57% say the country has moved away from founding principles.

Capitalism, Socialism, Communism

Percent of all respondents, favorable vs. unfavorable. Capitalism: 52% favorable, 23% unfavorable. Socialism: 37% favorable, 37% unfavorable. Communism: 21% favorable, 55% unfavorable.

Editor’s note: The remaining respondents (24–26% on each question) said they did not have enough information to say.

View of Capitalism

View of capitalism, favorable vs. unfavorable. By income: $100k or more 72% / 17%; $50k to $100k 57% / 24%; under $50k 44% / 24%. By age: 18–29 45% / 32%; 30–44 50% / 21%; 45–54 47% / 24%; 55–64 49% / 25%; 65+ 64% / 18%.

View of Socialism

View of socialism by income, favorable vs. unfavorable: $100k or more 45% / 44%; $50k to $100k 40% / 40%; under $50k 34% / 34%.

Editor’s note: The remaining respondents for each question (11%, 20%, and 32%, respectively) said they did not have enough information to say.

View of socialism by age, favorable vs. unfavorable: 18–29 53% / 23%; 30–44 40% / 31%; 45–54 37% / 34%; 55–64 37% / 37%; 65+ 23% / 57%.

Editor’s note: Gen Z (ages 18-29) stands out with more who are supportive of socialism (53%) than capitalism (45%). Gen Z is also the only age group with a more favorable than unfavorable view of communism (38% favorable, 36% unfavorable).

The Cato survey found the Democratic Socialist label can both help and harm a candidate about equally, depending on the voter: 39% of Americans said they are more likely to vote for a presidential candidate described as a Democratic Socialist, 40% said they are less likely, and 22% said it would make no difference.

A majority of Democrats (61%) and roughly half of Gen Z respondents (51%) said they’d be more likely to vote for a candidate with the Democratic Socialist label. These numbers help illuminate recent wins by candidates using the Democratic Socialists of America label in Democratic primaries.

American Patriotism

Large majorities of the public say they are grateful (86%) and proud (79%) to be Americans, but nearly 6 in 10 say they believe the country has moved away from founding principles. Corruption, concentrations and abuse of power, and ignoring founding principles are the top three things Americans believe could lead to the country’s demise.

More than 8 in 10 Americans say the US Constitution is important for protecting personal rights and freedoms, and more than half (56%) worry the US could stop being a free country within the next 50 years. Most (56%) say no president or political party should be trusted with too much power. However, nearly 4 in 10 also say it’s acceptable for a president they support to stretch the limits of the Constitution to achieve what they see as right.

Threats to the Republic

Most Americans (82%) believe the Constitution was important for America becoming a prosperous country. Thinking ahead to the next 50 years, respondents say the greatest threats to America remaining a free republic are (select up to three):

Greatest threats to America remaining a free republic: corruption 30%; politicians ignoring the Constitution 26%; the rich having too much power 24%; too much power in the presidency 21%.

Americans believe other potential threats include:

Other potential threats: moral decline 16%; excessive government spending and borrowing 16%; high levels of immigration 15%; political violence 15%; too much power in D.C. 15%; economic inequality 14%; government censorship or surveillance 12%; loss of shared values 11%.

Rights, Freedoms & the Constitution

When it comes to the rights and freedoms that are most important to them personally, the American public holds the First Amendment most dear, followed by the right to vote, freedom of religion, and equal protection under the law. The top 10 slate of responses (respondents were asked to select up to 5 from a list of 18):

Most important rights and freedoms: freedom of speech 49%; the right to vote and choose leaders 36%; freedom of religion 32%; equal protection under the law 32%; due process and fair treatment by the courts 31%; privacy 26%; the right to keep and bear arms 24%; a fair trial 23%; freedom from unreasonable searches and seizures 19%; freedom of the press 19%.

Prosperity: 82% believe the Constitution was important for America becoming a prosperous country. The Constitution: 53% say the Constitution is still basically sound as it is. Purpose of government: 43% say protecting rights and solving problems matter equally. Balanced budget: 69% support a constitutional amendment to require a balanced federal budget.

Amending the Constitution

More than half of Americans surveyed said they believe the Constitution is still basically sound as it is, while about one-third said they think it needs basic changes or amendments.

Is the Constitution basically sound? Basically sound 53%; in need of changes or amendments 30%; don’t know 17%.

Government & Civics

When asked what would most help America succeed in the next 250 years, the most common responses were a lower cost of living and less special interest influence and government corruption (respondents were asked to select up to 3 from a list of 14).

What would most help America succeed in the next 250 years: less corruption and special-interest influence 31%; lower cost of living 31%; better political leaders 28%; a stronger economy 27%; more respect for the Constitution 21%; better moral character 20%; stronger families and communities 19%.

Could choose up to 3; top 7 of 14 shown

Proper Purpose of Government

Notably, when asked to choose between two core purposes of government, a plurality said both hold equivalent value.

Proper purpose of government: protect rights and freedoms 36%; solve social and economic problems 10%; both matter equally 43%; not sure 12%.

Balanced Budget Amendment

When asked whether they would support or oppose a constitutional amendment to require a balanced federal budget, more than two-thirds were in favor.

Balanced budget amendment: total support 69%; total oppose 13%; don’t know 18%.

Findings from the Cato Institute Fourth of July / America 250 Survey. Survey size and field dates: 2,253 adults from June 25–26, 2026. Margin of error ±2 points. Some figures are displayed rounded, so some totals may not add to 100%.