It's kind of amazing that no one seems to know anything about Economics...
Here's a short version:
Socialism is about taking money from the rich to give to the poor...?
What happens when you do that, is that there is soon no one left to invest in any worthwhile companies that produce ANY wealth, so the Tax-base goes away.
When the Tax-base goes away, there is NO LONGER any money to take away from the rich, because there aren't any rich!
Sooo, then EVERYONE is poor, with no hope of changing that.
Clear?
Never mind that the people trusted with the power to take away that money from the rich, somehow manage to have some of it go to them! Putin's Russia a good example.