Present-day society is wholly based on the exploitation of the vast masses of the working class by a tiny minority of the population, the class of the landowners and that of the capitalists. It is a slave society, since the “free” workers, who all their life work for the capitalists, are “entitled” only to such means of subsistence as are essential for the maintenance of slaves who produce profit, for the safeguarding and perpetuation of capitalist slavery.
I'd say that the current American situation is far from Socialism, at least - real Socialism. Don't believe those Republican nutjobs - Bush isn't a Socialist, American isnt' Socialist, you're most likely not Socialist - You don't just become Socialist by caring for others, believe it or not.
However - Capitalism has its flaws, and they're quite obvious at the moment, perhaps people will actually, humm - I don't know, consider looking at alternate idealogies now instead of grabbing hold of their right-wing mentalities and staying there for all they're worth.