It doesn’t have to be this way, but unfortunately people in the western first world have been brainwashed to believe that anything to do with socialism (i.e., “damn commies!”) is bad.
Meanwhile, the distribution of wealth is out of control.
No individual needs a billion dollars. Yet there are individuals in the world with many times that. Meanwhile there are people without access to clean water. There are clever people unable to pursue scientific endeavour due to lack of funds (e.g., a good friend of mine has had to put her science Phd on hold in order to get a job - in Australia, and we actually get some level of assistance).
Sure, you want to reward hard work, but there becomes a point where having more money is irrelevant, and that money could be actually doing something for society if distributed to somewhere else.
We tried mostly pure capitalism (well, except if you’re a wall street banker, then socialism is fine!). Its broken.
there are plenty of people dying early, due to inadequate medical care (which could be helped with money/doctors/etc. I’ve made a few trips to various shit holes in Africa (Mali, Zambia, etc.). The average life expectancy in Zambia for example is 32. AIDS is rampant (IIRC, something like a 35% adult infection rate in some areas). Malaria is rampant.
If your life expectancy is 32, it changes your perspective on things a lot. AIDS for example is not seen as a big deal because it likely doesn’t kill you until after you’re likely dead anyway…