The core problem with “socialist” proposals such as Medicare-for-All is that they don’t actually fix what’s broken–they just expand existing rackets such as the healthcare/sickcare racket, the higher education racket, and so on.
Let’s start by separating “real socialism” (state ownership of the means of production) from “faux socialism” (the state borrows trillions of dollars to fund self-serving public-private rackets).
The basic idea of classic socialism is that state ownership of the means of production enables the state to harvest the surplus production and invest it in the public good. If the state is organized as a democracy, then the public gets a say in defining “the public good” and changing course if the national surplus is being mal-invested or diverted into the hands of the few under the guise of “the public good.”
What’s being labeled “socialist” in present-day U.S.A. is nothing more than the state borrowing from future generations to fund profiteering rackets today. It’s hardly a secret that the U.S. spends twice as much per person on healthcare but trails the pack of other developed nations in actual health. (See infographic below for the facts, which I have discussed here for 14 years.)
Problem #1 is robust health isn’t profitable, while managing chronic lifestyle diseases and pushing needless/harmful medications and procedures are immensely profitable.
Problem #2 is the external costs of destructive but oh-so-profitable products are not paid by either producers or consumers at the point of purchase. The tobacco industry offers an example of this decoupling of “price discovery” and externalities that manifest years or decades later.