The GOP keeps using the word "socialism" wrong, like not even close. They are describing communism as socialism and it's not even close. Furthermore, they are pushing for unrestrained capitalism with no hint of the other two, which is downright dangerous. Capitalism: basically, if you have money, you can buy more money. I can buy 10% of your company with a million dollars, rake in a share of the profits, then sell that 10%, the entire time doing no actual productive work. This creates lazy rich people. Communism: basically, the people with the money have their money taken by the state and redistributed in social programs to the poor. This creates lazy poor people. Socialism: basically, everyone has to do actual productive work, you can't simply buy into a company and buy out. The workers get a share of the profits from the company that they work for on top of a salary. A strong economy needs a mix of all three, people willing to risk some money to make more and drive innovation (capitalism) with a working class that is motivated to work because the better their company does, the better off they are (socialism) with a safety net of social programs for when unexpected circumstances put people out of work (communism.) One without the other two will not work and has been the downfall of every empire in history.