Only on one thing in there do I disagree. The Federal Reserve Bank is not a socialist institution, it is a privately owned bank, a corporation, and it masquerades AS a federal government institution simply by calling itself the "Federal Reserve", which is an oxymoron meant to mislead people into imagining that it's a publicly owned and run institution which it definitely is NOT.
Most Americans don't know that. Look it up.
Your main point is quite correct. The morons who attack socialism on principle seem to have no idea that their society cannot function without a large amount of socialism which they depend on every day of their lives.