Because under socialism, the government, being its own watchdog, controls the economy and doesn't promote innovation or initiative because there's no incentive. If government needs more money just spend more with only superficial justification. Anybody squawks too loud, throw the mob some more bread and circuses.
Because with the concentration of power, the power must grow itself until the corruption metastasizes further and further into the population. Again, the problem is the government setting itself up as its own watchdog with no peaceful way to correct it.
And loose your economic freedom and religious freedom as well? Right now, most advanced societies are fascist, with government not owning business but controlling it. With capitalistic freedom, the economy is better than under socialism, and that means there are more and better paying jobs. That's never clearer than the $15 dollar minimum wage socialists want. If forces businesses to lay people off, or actually close up, which weakens the economy and things just spiral down. This is why every voter should have a basic knowledge of economics. Every time you override the free market with government mandated wages, prices and excessive taxation, the economy suffers or crashes--and the socialists blame the capitalists and demand higher minimum wages etc. Add to that the possibility that some of your problems may be you, starting with who you vote for.