Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Axios on your phone

Get breaking news and scoops on the go with the Axios app.

Download for free.

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!
Expand chart

Data: YouGov, Victims of Communism; Note: Number of Gen Z respondents: 303, Millennial: 554, Gen X: 494, Boomer: 587, Silent: 162; Chart: Axios Visuals

Young Americans continue to lose faith in capitalism and embrace socialism, according to a new YouGov/Victims of Communism Memorial Foundation survey of more than 2,000 Americans 16 years and older.

Why it matters: Bernie Sanders, a self-avowed democratic socialist, is one of the top presidential candidates in the 2020 Democratic field. His flagship health care proposal, Medicare for All, has driven the national conversation and moved the Democratic Party significantly to the left — even among candidates like Elizabeth Warren who consider themselves capitalists.

The big picture: 50% of millennials and 51% of Generation Z have a somewhat or very unfavorable view of capitalism — increases of 8 and 6 percentage points from last year. Meanwhile, the share of millennials who say they are "extremely likely" to vote for a candidate who identifies as a socialist doubled.

  • Nearly half of Gen Z and millennial respondents said they felt the U.S. economic system worked against them — more than other generations. They've grown up in a capitalist country where economic inequality has continued to climb.
  • Many are burdened with college debt, have seen little wage growth and face the threat of job loss due to automation — all while the top 1% continue to accumulate wealth.
  • Socialism and communism also don't bring the same negative associations and memories that they have for older generations. Even the oldest millennials were just children when the Berlin Wall fell.

By the numbers: 19% of millennials and 12% of Gen Z said they thought the Communist Manifesto "better guarantees freedom and equality for all" than the Declaration of Independence. That's compared to just 2% of baby boomers and 5% of Gen X.

  • Just 7% of boomers said they had at least a "somewhat favorable" view of communism — compared to more than a third of millennials and more than a quarter of Gen Z.

The bottom line: Young people's political views often change as they grow older, but their support for socialist ideas and leaders is a sign that the old rules of politics are changing fast.

Go deeper

Updated 3 hours ago - Sports

Olympics dashboard

🚨: Japan's Naomi Osaka lights Olympic cauldron; Photos

👻: How the no-spectator Olympics could affect the athletes

🇺🇸: "What an honor it is to watch you soar," first lady tells U.S. Olympians

🌏: Meet the underdogs from Latin America

🥇: The six new sports at Tokyo 2020

💉 About 100 U.S. Olympic athletes are unvaccinated

✍️ Axios at the Olympics: What it's like inside the opening ceremony

Go deeper: Full Axios coverage

Senate Democrats demand answers on FBI's Kavanaugh probe

Photographer: Andrew Harrer/Bloomberg via Getty Images

Senate Democrats are demanding that the FBI hand over "all records and communications" related to the FBI tip line set up to investigate Supreme Court Justice Brett Kavanaugh when he was a nominee in 2018.

Why it matters: The ask comes after the FBI revealed it received more than 4,500 tips about Kavanaugh when he was awaiting Senate confirmation amid sexual assault allegations. Only the most "relevant" of these tips were forwarded to the Trump White House.

Chip relief on the horizon

Illustration: Sarah Grillo

Good news: The worst of the chip supply crunch might be near.

The other side: Here's the bad news... CEOs say chips totally flowing like normal is still a ways out.