«The problem with socialism is that you eventually run out of other people’s money.»
A while ago I did stumble upon this nice example why socialism does not work. Never checked it myself, but I’m pretty sure it would lead to the same result.
One other thought (update) — the argument that kills socialism for me is that it’s not the workers (aka the community) who own the so-called means of production under socialism. It’s the representatives of that group — i.e. the leaders, or in modern terms, the politicians. They can decide how resources are used. And given a simple comparison between government and commercial projects — in terms of efficiency and efficacy — shows that this is a really bad idea. Or just look at the background and behavior of politicians. To get into that position you need a need for power — a willingness to want to decide for others, and those people rarely make the best decision makers. Essentially socialism argues for giving politicians more power, while removing that class from the consequences of their actions. Bad idea.