Twenty-one percent (21%) of American adults say that the U.S. economy is partially socialist and another five percent (5%) say generally speaking it’s already a socialist economy.

A new Rasmussen Reports national telephone survey found that 26% believe the United States generally has a free market economy and that 41% say the country has a partially free market economy.

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Seventy-seven percent (77%) of all voters say they prefer a free market economy over a government-managed one. That’s up seven points since December.

But only 53% of American adults believe capitalism is better than socialism. This clearly suggest that many Americans draw a sharp distinction between capitalism and a free market economy.

Belief that the United States has a free market economy generally rises with income level. Those who earn the most are most confident that the market is at least partially free.

Republicans are the most skeptical. Thirty-five percent (35%) of GOP voters say the economy is already at least partially socialist, compared to 11% of Democrats and 22% of voters not affiliated with either party.

While 38% of Democrats say America generally has a free market economy, just 15% of Republicans and 20% of unaffiliateds agree.
Similarly, 81% of political liberals say America at least partially has a free market economy, a view shared by just 56% of conservatives.

Americans’ short-term expectations for the economy have grown in recent weeks, but their long-term hopes are down.

Most Americans continue to believe that the federal bailouts of the financial and automobile industries were a bad idea. Only if taxpayer money is involved do Americans want the government to have a say in how a bank or business pays its top people.

Most Americans also oppose the government’s plan to subsidize the mortgages of financially troubled homeowners, saying it rewards bad behavior.
Voters have consistently said the government cannot run troubled industries as well as the private sector can.

There is a growing worry that the federal government will do too much rather than not enough to fix the troubled economy.
After all, 60% of Americans say the federal government already has too much power and too much money.

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