As to the OP:
I think it is very understandable that a lot of people on the right bring up Venezuela with a "See, I told you so!" attitude. Various liberals had all kinds of praise for Hugo Chavez's economic "socialist" policies, including Michael Moore, Sean Penn, Chomsky.
http://www.foxnews.com/world/2017/0...-socialist-government-proven-wrong-again.html .
It was a failed experiment, to say the least. It made the poor poorer and income inequality is even worse than the US as measured by GINI index.
When country has a thriving capitalistic private sector that is wisely regulated (regulated, not centrally planned) and that economy is taxed and provides education, roads, infrastructure, welfare, health care and so on, I don't think it should be called "socialist" but these days, it has come to mean that. When I think of socialism, I think of having only a public sector economy and the prohibition of private ownership of land among other things.
Venezuela did a lot of really stupid populist "feel good" policies that make no economic sense: They were protectionists, especially in regards to the USA, more out of ideological hatred than economic philosophy. The did price fixing of commodities, even things like toilet paper, so it would be affordable to the poor. Sounds good and intent was good but wasn't good. Populists reject expertise of any kind and always follow their gut like Trump. Venezuela is a cautionary tale of things we should not do.
Their madness will have effects for decades. Children are malnourished, undereducated, and will grow up to have more diseases, a lower IQ, and so on.