The definition of socialism varies a bit from source to source, but is essentially this: socialism amounts to collective ownership where the state owns and controls the means of production.
Some sources offer more than one definition.
For example, yourdictionary.com gives the following as one way in which socialism is defined:
"the stage of society, in Marxist doctrine, coming between the capitalist stage and the communist stage, in which private ownership of the means of production and distribution has been eliminated."
A definition of socialism as noted above leads to:
Following is one of the best socialism definitions I think I've ever heard. Read it and ponder.
"You cannot legislate the poor into freedom by
legislating the wealthy out of freedom. What
one person receives without working for,
another person must work for without receiving.
The government cannot give to anybody any
thing that the government does not first take
from somebody else. When half of the people
get the idea that they do not have to work because
the other half is going to take care of them, and
when the other half gets the idea that it does no
good to work because somebody else is going to
get what they work for, that, my dear friend, is
about the end of any nation.
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Let's not let the definition of socialism become the mantra of the USA government. Let your voice be heard in Washington, D.C. After all, the leaders are supposed to be representing YOU.
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