The left truth is that a capitalist system that does not adequately distribute resources to workers results in the dollar store economy, with inadequate domestic demand and both political and economic instability. The right truth is that a largely socialist system does not provide the incentives necessary to generate growth, which results in an absence of funds to be redistributed, a more intense battle for resources, and either terminal instability or strongman government.
Obviously, the objective is to find a path that runs between the two extremes—to provide both adequate incentives and a fair distribution of resources. Today, we are much closer to the dollar store nightmare than to socialism—hence, the ambitious Biden agenda.