honestly, I don't even think that half the people on this site even know what socialism is. Socialism is a good idea in premise but in practice has never worked due to the fact that all the countries that have imposed this economic system are run by fascists and dictatorships. Ever since the cold war, anything communism related has been held with contempt due to the extreme anti communist propaganda advocated by the U.S. government, so anything that is proposed in the U.S. that has socialist or communist ideologies is inevitably shot down due to history.
For those who don't know, socialism works on the idea that everyone is equal and all classes are abolished, rich, middle and poor. The economic side of it works through the ideologies that everyone turns in the fruits of their labor (produce and money), and in turn the government redistributes the wealth and produce equally. In a socialist country, the government controls everything, which i will adress later.
The downside of socialism is that it completely disregards the one key feature all humans share. Greed. Humans are greedy, we want things, we want money, fame and material possessions, but socialism is designed so that people are advocated money, services and land in equal portions to prevent any excessive accumulation of any of the above, while relying on the premise that people are willing to give up their earnings and money to be redistributed equally to benefit society, and the fact is that most people aren't.
Since humans are greedy, it's inevitable that in the situation that a government or leader has access to an entire countries, civilians wages and produce, that they are going to become corrupted and misuse it, which is the inherent flaw of socialism, that it relies on the premise that the government will not become corrupted and will be fair in the collection and distribution of wealth, and when a government is given absolute power they are going to misuse it no matter how solemnly they promise not to.
So while it may seem like an ideal solution to the worlds problems, socialism just doesn't work because of human nature. The funny thing is though that the majority of systems in place work using socialist ideologies. It's called taxation. You pay the government taxes, and they give you education, roads and highways, and many other things. The entire population (in theory anyways) gives the governemnt a portion of their money to benefit society.
In conclusion, socialism can work well in some aspects of life and society but terribly in others, so it's hard to distinguish whether socialism a the correct or reasonable system to use when developing a system.