Socialism is the liberal (Democrat) side of our politics, some would disagree. They say it means that they want the common wealth to be distributed evenly but what it actually means is they want to have lower class, no middle or upper class and lots and lots of government that we have to pay for. It means that they own the land make all the rules and generally take away our freedoms.
You would have to study Marxism to get the full picture but it hasn't worked in several countries so I'm not sure why anybody would think it has a chance here.
Obama's health care plan is a good example of Socialism. It will be forced on us, we will be forced to pay 150.00 a month. If we don't we will be forced to pay fines on top of that and if we don't we will be imprisoned. Thats basically socialism in a nutshell