Is it ok to be a Socialist?

[☦ICXCNIKA ☦]

Socialism is the government ownership of business.
The problem with socialism is it tries to dump the price system in favor of central planning.
Prices are important for allocating resources- if it costs $100 to make a product with some material and it costs $200 to make it with another and there is no real difference in terms of quality people will use the $100. You also have the problem of government backed monopolies.
Imagine what sort of cars you would have if the government forced the big 3 to merge and outlawed competition.
If you don't want government ownership but just serves then you have the problem with the debt and inflation.
If you try to pay for services with really high taxes- the people who can afford to do so leave.
If you pay for them with deficit spending you devalue your currency.
There is a reason that the pound Sterling is no longer 1 pound of silver and the dollar is no longer 1/20 of an ounce of gold.