Replying to How does socialized medicine work?

This seems to be an issue in the upcoming elections and I was just wondering if some Canadians could explain how your system works. Also do you think its a good thing or not? From my understanding it would be like everyone has the same health insurance and it is paid for by taxes. I also read somewhere that it was against the law for a company to sell private health insurance in Canada.

I don't really understand how this could be better than the system Americans have now. I understand that having poor people have the same care as rich people sounds good but shouldn't people with more money be allowed to pay for a better health insurance plan?