Socialism is regulations on private business. It is not taxation or welfare programs and it is not government ownership of industry.
socialism is an economic system in which the means of production are socially/co-operatively or state owned and goods and services are provided for direct use rather than for private profit.
regulations on private business are errr...regulations on private business, they exist to some degree in any economic system.
imo a system that balances capitalism and socialism works best. most enterprises are more productive when privately owned. but i believe certain areas like healthcare work better when state or co-operatively owned.
for instance in the US roughly 20% of gdp is spent annually on healthcare and you still have millions of people ineligible for care , whereas in most of europe we spend around half that figure on state run health services and everyone has cover.