The right has millions of definitions of what communism and socialism is , created by each right winger having their own personal definition, all ignoring the actual definition of communism and socialism. Suggesting that if it isn't capitalism then it is communism or socialism.
We don't have free-market capitalism. We have a Keynesian system. Full blown socialism is the natural consequence of a Keynesian model, though. It's designed to fail. And it is. As it is, we have economic intervention. We have central economic planning by a central bank. We have a welfare state. We have inflationism. And we have a strong tendency toward deficit finance. There's nothing at all about that model that can in any way be compared to fee-market capitalism. And then to make a further comparison to socialism/communism is an apples and apples argument of the upmost proportions.
You don't have a Keynesian system, central planning or inflationism. Socialism is NOT the natural consequence of the Keynesian model. All of Western Europe, Australia, Canada and New Zealand have lived with a Keynesian model since the end of WWII, and it has been the most peaceful and prosperous time the world has every known, providing a taxpayer funded health care, education, and income supports for disabled people and retirees, a higher standard of living, strong employment rights, and opportunities to succeed.
You have some sort of bastardized hybrid system that is neither fish nor fowl. You're correct that it isn't working, but it is effectively funnelling all of the nations wealth to the top 10%. You do have a welfare state, but a very weak one - no government funded health care, and very limited help for the elderly or the disabled. Employees have few rights and there are few unions lefdt outside of the public sector.