Governments always trend toward creating a rich, privileged political class. Call them royalty, a politburo, or whatever you like. It's what they do. The sick part is that instead of doing this through hard work and innovation like most of us theoretically could do in the U.S., they do it by robbing you at gunpoint, using the IRS as their thug. While we all agree that some taxes are necessary to fund basic, agreed upon government functions, they're doing a lot more with the money than was ever intended, including making themselves rich at your expense.
It shouldn't be a shock that "man of the people" Bernie Sanders, now off the campaign trail is the same way. The story that sparked this thought is "Sen. Bernie Sanders buys lakefront home for nearly $600,000." Snopes tried to defend him a bit, but here's the truth: most Americans can't afford a vacation home at all, let alone one worth $600,000. And Bernie, that home would have paid for a lot of students' "free" tuition.
What's the truth about socialism and socialists? It's the same as it's always been since government was invented.
While I don't believe government is inherently bad, I do believe that the farther we stray from the Constitution, which was designed to keep government and politicians from abusing We the People, the worse things will continue to get.