(CN) – Socialism has experienced a recent surge in popularity among registered voters in the U.S. but most continue to favor capitalism, according to new polling data.
A Fox News poll released Tuesday reveals that nearly a third (31%) of registered voters maintain a favorable outlook on socialism. This represents a six-point boost for socialism compared to a previous poll in February, when just 25% of voters said they viewed socialism in a positive light.
Among those asked, 16% said they could not truly rate socialism.
While socialism’s popularity is on the rise, it has failed to capture majority support. Around half (53%) of voters say they hold a negative view of socialism, though this unfavorability rating is down from the 59% reported in February.
Meanwhile, voters also have a somewhat more favorable outlook towards capitalism. The poll shows that 57% of voters positively view capitalism while just 27% say they have a negative view of it. These numbers are largely unchanged from earlier in the year, when capitalism’s favorability and unfavorability ratings were 57% and 28%, respectively.
Chris Anderson, one of the conductors of the poll, says that socialism’s rise in favorability is largely due to the fact that more people are starting to feel like capitalism is not serving their needs or meeting their expectations, and socialism offers up a potentially meaningful alternative that is often viewed as being home to several political policies that are gaining traction.
“There are two sides to this equation. First, while a majority is favorable to capitalism, a sizable minority is not. It isn’t working out for them, especially younger voters,” Anderson said in a statement. “Meanwhile, presidential candidates are advocating popular policies that are being labeled socialist, which is increasing favorable views towards socialism.”
A breakdown of socialism’s rise in popularity shows that there are some groups that are more naturally inclined to support the ideology, while others show strong signs of aversion towards it.
On the political spectrum, Democrats are far more supportive of socialism than their Republican counterparts. Just over half (51%) of Democrats say they have a favorable view of socialism but an equal number of Democrats also say they favor capitalism. Republicans are far more likely to lean towards capitalism, with 69% of Republicans saying they have a positive view of it. Just 14% of Republicans say the same for socialism.
Independents are generally not supportive of socialism, with just 16% giving it a favorable rating. Forty-four percent of Independents say they have a positive view of capitalism and a little over a quarter (28%) said they could not decide how they felt.
Since earlier this year, favorability towards socialism has increased among self-identified “very liberal” individuals by 12 points, black voters by 13 points and male voters by 14 points.
A person’s economic status has been shown to have little to no influence over how they feel about socialism, according to the poll. Those with a household income over $100,000 are voicing the exact same support for socialism as those with a household income below $100,000 a year, with 32% from each group rating socialism favorably.
Data suggests that age, on the other hand, does have some effect on whether a person is likely to have a positive outlook on socialism, with the poll showing that voters support socialism less, and capitalism more, as they get older. Millennials have the highest favorability towards socialism with 41%, while only 31% of Generation X voters say they positively view it.
Only 24% of baby boomers say they have a positive view of socialism, while a far more significant 63% say they are in favor of capitalism.
The Fox News poll contained a sample size of 1,000 registered voters and had a 3% margin of error.
Read the Top 8
Sign up for the Top 8, a roundup of the day's top stories delivered directly to your inbox Monday through Friday.