I've noticed a phenomenon for political words to lose meaning over time, and become fully general insults. The right uses "socialist" excessively for example. The left uses words like "racist" in a similar way. Most people called socialist would say they don't support socialism or socialist policies. Most people called racist would say they don't think their race is superior or that we should discriminate based on race.
Most people called socialist do indeed support socialist policies - they support government programs like medicare, public schools, and other social welfare programs.
Those calling them socialists are probably a bit socialist too, though.
This only fuels your argument that political words lose meaning over time.