I agree with you. I find it offensive to continue using the word "liberal" as it is commonly used, as the modern left is the very opposite of liberal. The correct term would be socialist, or leftist as you suggest, I even accept their usage of "progressive" although that too is a misnomer. I have begun to use the term "populist" as an alternative.
But I do everything I can to avoid using the word "liberal" in reference to these people. In my other post in this thread, I felt forced to use the word because Coulter does; even at that I felt obliged to place it in "quotes".
I like this idea.