Yes he did. The con of socialism is that it’s wealth taken from the haves to give to the have-nots.
The truth is that socialism is a wealth transfer from the middle-class and poor to the rich, by transfer real and permanent wealth to them.
The socialists give to the poor just enough that they will fail and what the poor built is taken back by the rich and kept. It’s why socialism leads to communism and communism leads to oligarchism.
Whenever the government gets involved in ANYTHING there will be massive fraud everywhere BANK ON IT!!