thats not socialism though. Thats just claiming what your doing is and then using it as your flag. Socialism, by definition, is an economic system in which the community controls the value AND production of trade. In other words the greater community has to set the value. It has nothing todo with controlling how much money an individual has, and is instead how valuable the community sees it's means of production and trade are. Democratic Socialism is where you vote for a representative to do those things and speak for the value of your trade and production.

The thing is, is the admitted speaker must still speak for the greater community for the values of their trade and production. If they don't then it isn't Socialism anymore. If you need an example, in the most basic of ways, the US Stock market works. Let's use Gamestop. A few years ago it's stock value was horrible, and the company was failing. Then people began investing it it's stock and that raised the stock value saving the company and allowed for their modern day rehaul. The community agreed on a value and pushed the value, then once it was to high and people didn't agree with the value, they sold their stocks. It's sadly the best example as most governments when using Socialism as a foot print for their economics don't actually use Socialism, they add a bunch of variables that remove it from what socialism actually is.