53% of Americans Say Capitalism Better Than Socialism
A recent poll by Rasmussen Reports asked Americans “which is a better system – capitalism or socialism?” I am shocked that there isn’t a larger majority in favor of the American system. I naively believed that experiments such as Cuba and the former USSR would mitigate faith in socialism. Perhaps most shocking of all is that 27% of Americans are unsure. Almost a third are have not made up their minds whether they enjoy having the freedom to do what they like and the fruits of their labor (and suffer the consequences of their own failure).
Adults under 30 are essentially evenly divided: 37% prefer capitalism, 33% socialism, and 30% are undecided. Thirty-somethings are a bit more supportive of the free-enterprise approach with 49% for capitalism and 26% for socialism. Adults over 40 strongly favor capitalism, and just 13% of those older Americans believe socialism is better.
Investors by a 5-to-1 margin choose capitalism. As for those who do not invest, 40% say capitalism is better while 25% prefer socialism.
There is a partisan gap as well. Republicans – by an 11-to-1 margin – favor capitalism. Democrats are much more closely divided: Just 39% say capitalism is better while 30% prefer socialism. As for those not affiliated with either major political party, 48% say capitalism is best, and 21% opt for socialism.