Yeah, not even close. If I was afraid of it I'd be working day and night to end the many different social programs we have. A hybrid of the two is best. You have the security of making sure everyone is cared for and a reason to try working hard for a living. Best of both worlds. Yeah, things aren't perfect, but I haven't found a working model that works better in the non-theoretical world.
Again, you've had bad luck or hanging out in the wrong crowd if every investor you've dealt with was the hellspawn you indicate. I genuinely hope you have better luck in the future. It sucks for everyone when bad experiences make anyone want to "throw away the baby with the bathwater". Peace and good fortune to you.
EDIT: Major typo, should have said "things aren't perfect".