Support for capitalism at ‘record low,’ says new survey

People participate in a "March on Billionaires" event on July 17, 2020 in New York City. The march, which included a diverse group of activists, politicians and citizens, called on New York Governor Andrew Cuomo to pass a tax on billionaires and to fund workers excluded from unemployment and federal aid programs. Joining the marchers were dozens of taxis whose drivers have been especially impacted by the drop ridership due to Covid-19. According to data from the Organization for Economic Cooperation and Development, income inequality in the United States is the highest of all G7 nations. (Photo by Spencer Platt/Getty Images)

By Amie Rivers

September 12, 2025

Americans are starting to sour on capitalism.

That’s according to the latest Gallup survey, which found the number of US adults who say they support capitalism—”an economic system characterized by private or corporate ownership of capital goods,” per Merriam-Webster—is at a record low.

To be clear, “record low” is still more than half—54% of all adults still believe in the promise of the free market to deliver the American dream.

But Republicans are driving that number, with 74% saying billionaires should definitely exist. Just 51% of independent voters, and 42% of Democrats, think that our increasing wealth disparity is fine.

Just where are folks getting this idea that capitalism sucks?

From the fact that manufacturing and trade employment is shrinking?
From the fact that nobody is hiring right now?
From the fact that the rich are pretty much powering our economy because no one else has money?
From the fact that Gen Z adults graduate into massive debt, have to rent because they can’t afford to buy a house, and can’t even find a job?

Commies, all of ’em.

Do you still support capitalism? Why or why not? Do you like it, but think it could be improved? Email me.

Amie Rivers

Amie Rivers is Iowa Starting Line's newsletter editor. She writes the weekly Worker’s Almanac edition of Iowa Starting Line, featuring a roundup of the worker news you need to know. Previously, she was an award-winning journalist at the Waterloo-Cedar Falls Courier; now, she very much enjoys making TikToks and memes and getting pet photos in her inbox.

Have a story tip? Reach Amie at [email protected]. For local reporting in Iowa that connects the dots, from policy to people, sign up for Amie's newsletter.

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CATEGORIES: LABOR

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