Why Is SOCIALISM Such A Bad Word?

The "in" word of this past week seemed to be socialism. The Conservatives and Conservative Media have been using this word to describe President Obama's agenda, particularly his economic agenda. I ask: what is so wrong with socialism anyway?

Wikipedia defines the term as, "Socialism refers to a broad set of economic theories of social organization advocating public or state ownership and administration of the means of production and distribution of goods, and a society characterized by equal opportunities for all individuals....Socialists mainly share the belief that capitalism unfairly concentrates power and wealth among a small segment of society that controls capital, creates an unequal society, and does not provide equal opportunities for everyone in society."

Socialism has its beginnings many times throughout history during revolutions. The People get tired of being left with nothing and being treated with inequality, and revolution brings about change. Did the American people begin a revolution with the election of Barack Obama? Did the people in this country finally get so sick of the wealth being distributed unevenly amongst the rich, that they said, "Enough is enough!" Isn't it said that 1% of the US population has 95% of the wealth?

I ask again, "What is so wrong with Socialism?"