Great discussion. Good thoughts by Deez, Monahans, ShAArk92, and everyone else. Let me go back to one of the repeated statements thrughout the thread stated initially by ShAArk.
Socialism is the government confiscating wealth from those who created it and sends it to those who didn't earn it ... in accordance with whatever the government deems necessary.
I'll concede that to be true, but not necessarily bad. Let me explain.
If there is a surplus from the economy, such that the excess resulting from commerce exists and can be expropriated from taxes and distributed to the needy, as well as improve infrastructure and provide for the common defense, I don't have too much of a problem with that.
However when the charity/distribution of wealth exceeds the surplus generated by the economy, in other words you can no longer expropriate from taxes enough to cover the spending (deficits), then socialism heads down an unsustainable path. The more programs that get added eventually overwhelm the ability of the economy to satisfy the expenditures. At this point you are no longer "distributing the wealth" but robbing from the future to sustain the social programs. And that is where the western world stands now.
In the 40's and 50's, demographics and the booming US economy were able to generate surpluses that could pretty much be distributed through taxation without stealing from the future. So Socialism appeared to work. For a while. But with changing demographics, and periodic economic slumps, Socialism could only be extended by stealing from the future (running recurrent deficits).
For those of you who curse Socialism and say it will lead to failure, I think some of you don't realize you aren't talking about other nations. It is the United States that is well down that path already.