I assume it is because of decades of anti-socialist propaganda becoming embedded in the culture. Now it is in too deep and it will take a long time to uproot it. It will be even more challenging to change since things have moved considerably further anti-union, anti-education, anti-intellectualism, and other things that would lead to progressivism. Especially if it is making a small portion of the country obscenely rich. With the bailouts a couple of years ago, failure by the ultra rich essentially gets you rewarded. At least in the Great Depression, people like Charles Schwab died alone and penniless if they fucked up. These days, he would have been given enough bailout cash to give himself a 20% bonus for the year.