Socialism evades the creation of wealth. It takes the creation of wealth for granted, as political and social planners decide how “best” to redistribute or “spread the wealth” around. Socialism ignores the immorality of legalized theft — stealing from those who produced, and handing the loot over to those who didn’t. Socialism ignores the root of production — the human mind — and its corresponding need to be free in order to produce.
Socialism, wherever it’s tried, will always fail. You can’t depend on the production of wealth in order to redistribute wealth — all the while ignoring the requirement to produce wealth in the first place. The politicians and social planners do not create wealth; they merely seize it. From whom will they seize more of it, as the economy flounders and the calls for “taxing the rich” become more shrill? They will seize it from the producers. But the producers will produce less of it once they see that more and more of it’s going to be seized. Why should they take risks and innovate if they stand no chance of keeping what they create? Would YOU? That’s the story of the next 4-8 years — in sharper focus than America has ever experienced it before.