As the United States marks its 250th anniversary, Americans are holding two seemingly contradictory ideas at once. Gallup reported in June that 78% of Americans still believe the American dream is worth striving for, and 69% believe they personally will achieve it. Yet an AP-NORC poll found that only 34% say the traditional proposition that hard work allows people to get ahead still holds true. Among adults ages 18 to 29, that figure falls to 22%.

That gap suggests that the American dream may not be disappearing so much as changing meaning. Americans still want it, but younger adults are much less convinced by the traditional formula associated with it. Gallup’s 2025 survey, reported this year, also found adults ages 18 to 34 are less positive about capitalism than older Americans, while younger adults were more likely to identify equality and access to basic services as attractive features of socialism.