The ‘American Dream’ is not about getting rich

A recent Wall Street Journal poll asked Americans whether the American Dream still holds true. A mere 36 percent of respondents said they believe that it does. Meanwhile, 45 percent thought the concept had lost its lustre, having once rung true but now no longer holding up in today’s society.

At first glance, these numbers may be alarming. But the reality of the situation is much more nuanced. In the end, the devil is in the details.

The poll specifically asked, “Do you think the American Dream — that if you work hard you’ll get ahead — still holds true, never held true, or once held true but does not anymore?”

The question didn’t ask Americans about the American Dream. The poll asked whether meritocracy — the idea that if you work hard you’ll get ahead — still holds true. That is not the same thing. For when you take the time to ask Americans about the American Dream itself, “getting ahead” seldom makes the list of expectations.

A 2019 survey by the American Enterprise Institute revealed that only 16 percent of Americans believe that the American Dream means to become wealthy. On the other hand, 85 percent of Americans said the American Dream involved “the freedom of choice in how to live one’s life.” Meanwhile, 82 percent of Americans believed they were on their way to or had already achieved the American Dream.

More recently, a Chase survey, published earlier this month, found that a great majority of Millennial and Gen-Z adults believed the American Dream was still within their reach. This optimism varied regionally, with 85 percent of respondents in Miami affirming their belief in the American Dream, while 71 percent in Seattle agreed.

But these are all just numbers. In the end, what does it mean?

The American Dream is not about money or getting ahead in life. The American Dream is about living your life to the fullest — that is, attaining one’s personal goals, unrestrained by the government.

Why is it that 85 percent of Miami Millennials and Gen-Zers believe in the American Dream, while only 71 percent of Seattle residents believe the same? There are many possible explanations. It could be that the Sunshine State is a more pleasant place than the gloomy Pacific Northwest, with weather affecting personal outlooks on life.

It could also be the cost of living, which in Miami is 24.8 percent less expensive than in Seattle. It might also be the crime — property crime in Miami is 14.2 percent lower than in Seattle. Then again, that’s cherry picking data, considering violent crime is less prevalent in Seattle.

The truth is that the American Dream is all of these issues, not just one. But when it comes down to it, the best way to measure the American Dream is to take a holistic approach.

A 50 State index of personal and economic freedom ranked Florida second most free-overall in 2022, whereas Washington State ranked 37th. Perhaps this is why residents in Miami feel like the American Dream is more attainable than their distant countrymen in Seattle.

The American Dream is not complicated. It is a pretty simple ideal — the promise that you can chart your own destiny. When Americans have the freedom to chart their destiny, they are happier and more fulfilled.

Gabriel Nadales is national director of Our America.