Any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods.There are several other modifications of this definition that are also listed at the link above, but this is the first and the main defintion when talking about Socialism.
The President nor the Demoratic Park believe in Socialism. Anyone telling you otherwise is lying. If they continue to call the President a Socialist, then proceed to call them both a Feudalist and a Fascist and call it even.
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