Gen Z Favors Socialism More, Shifts Spending to Low‑Cost Treats

A June poll by the Cato Institute and Morning Consult found that 53 % of Generation Z respondents view socialism favorably, compared with only 23 % who view it unfavorably. Support for socialism is higher among younger cohorts, while older generations remain more skeptical.

A Bank of America Institute report shows the same generation’s median savings‑to‑spending ratio just below 0.5, the lowest of any age group. About 42 % of Gen Z live paycheck‑to‑paycheck, and 67 % say they spend more on goods than on experiences, a pattern described as the “little‑treat economy” where limited funds are directed toward inexpensive, predictable purchases rather than larger, uncertain outings.