That's incorrect not just as it applies to him, but in general as it applies to Socialisms (no the s at the end is not a typo). The usual assumption that Socialism means big government is a historical accident of the way Socialisms have been implemented, but it is not part of the actual "Political Philosophy". What you are describing is called State run Capitalism: Study this thread, particularly the first video: https://www.elitetrader.com/et/threads/an-incomplete-education.311549/
We are currently in a non free market interventionist police state... what remains of capitalism is what keeps the whole thing from falling apart... collusive big business and hungry corrupt politicians on the take... no one said anything about socialism, but i can... your historical accidents of the implementation of socialism have costs millions of lives... from Mao, Hitler, to Stalin.. you can argue about pedantics all day but the reality of it is these dictators have gained absolute power by collectivist philosophies and that continues to work ... People like you will continue to say... " its not implemented right" the right crazy megalomaniac patriarchal politician with a utopian view comes along and you idiots jump right on board... Socialism always means central control.. which always means a large state... there is no need for a history lesson to see the connection...
I agree and disagree with you. The end result for the small guy is that we sees when he looks at Capitalism what you are pointing out above - which can be described as a deadly combination Neo-Liberal Capitalism and Crony Capitalism. I am not certain that Capitalism, as an idea, is wrong. Only what we have today. That is true because historically, Socialism has been taught by example of the BY VIOLENT implementation of social changes by taking the state as a seq-way to implement socialisms - i.e., Revolutions. Not every socialist believes in violent revolution. Many like myself believe that social changes comes through as the population accelerates in understanding in the face of technological changes. That is false. I tried to offer perspective. But all I can do is take a horse to water. Can't make it drink.