The government picking well-connected winners for private profit is just "American capitalism". As for socialism, I'll quote Harry Truman's 1952 speech, "S

The government picking well-connected winners for private profit is just "American capitalism". As for socialism, I'll quote Harry Truman's 1952 speech, "Socialism is a scare word they have hurled at every advance the people have made in the last 20 years. Socialism is what they called public power. Socialism is what they called social security. Socialism is what they called farm price supports. Socialism is what they called bank deposit insurance. Socialism is what they called the growth of free and independent labor organizations. Socialism is their name for almost anything that helps all the people."