Democratic socialism is a revisionist version of genuine Marxist socialism. It's a watered-down version of socialism, which really isn't socialism at all. One very important aspect of socialism is the nationalization of industries that are vital to a nation's infrastructure. All of the major centers of economic power (i.e. heavy industries), like energy (oil, gas, nuclear plants, electricity) and other utilities are publicly owned. The banks, the mining industry, healthcare, pharmaceuticals, education, the military-industrial complex..etc, comprise the nation's commonwealth, it's owned and operated by the people. All of the money generated by those industries is deposited in the public treasury, in other words, it's returned to the people. When we pay our light bill, we are paying that money to our government which then takes that money and uses it to pave roads, inspect and maintain bridges, build housing and hospitals, and universities. etc. I'll rather pay my utilities to my government than to a billionaire, who's going to use that money to buy a new mega yacht. I'll rather have that money return to me and my family, my community.
Socialism is the process that leads to high-communism. A stateless society, without socioeconomic classes or the need for money. Communism is born when the individual consumer has complete contraol over the means of production. Technology will eventually allow the consumer to produce everything they consume, themselves, without anyone else's assistance:
We're about 70 or 100 years from high communism. Until then, we'll have socialism. When unemployment becomes much worse than it is right now, people will form worker cooperatives and colonies to survive.
Like you really believe government will handle the money more honestly than the private sector. Get real.