so what is exactly wrong with socialism?

[Agnosticsherbet]

167. I didn't post on that economic system called Capitalism as it wasn't in the OP

And we are a Corporatist Oligarchy here in the US for the ruling class, while the masses utilize Consumerism so that wealth is reapportioned from the people to the investor class.

It is popular to call it Capitalism, but we aren't really Capitalists, though aspects of that extinct system are utilized by the Corporatist elite and the name is kept because of its history.

I am a liberal, and liberalism isn't compatible with socialism as socialism denies people economic right to own the means of production.

As I said, there are many ideas within socialism that are easily taken into a liberal state because they help expand individual rights. The parts of socialism that deny a right to individuals makes it incompatible.

In reality, there is no pure system. Socialism will be as good or bad as those who implement it and those who are put in power, which makes it a lot like a liberal Democracy.