Socialism is considered "bad" because of the media influence of the huge corporations who run the world and exploit its peoples (whether for labour or the dehumanization known as consumerism), and who do not want to see its staggering profits cut down by a more even distribution of wealth.

Also, concepts of privilege and aristocracy still permeate the Western consciousness: i.e. if you're rich and you get tried, you can afford a hot-shot lawyer who'll get you off or serving minimal time. If you're in the camp of the have-nots you'll have a stooge provided for you who will easily lose to the crown shark they'll have attack you.

I'm all for small business and free enterprise, but the line must be drawn at global corporate slavery and the denial of basic rights (like access to health care and quality legal protection) from those raised in uneducated slums. Brazil's Umber has some interesting theories on all this.