I sincerely doubt we will collapse for taking a principled stand against socialism. May lose some members and donors (that is to be expected), but we do have a growing segment of pro-life and tea party conservatives who are committed to holding the line against the big government statists and encroaching socialism and all that it entails.
Ronald Reagan on compulsory health insurance (RomneyBamaCare) and freedom vs socialism:
http://www.youtube.com/watch?v=fRdLpem-AAs
That Romney is the nominee after creating Romneycare is proof that a liar can buy the nomination regardless of his record. Giuliani’s mistake was telling the truth about what he was.
My prediction, for what it’s worth, is that Romney will lose for much the same reason that McCain lost. You can’t win without the base.