Socialism fundamentally works by creating a system that taxes those who have more than others and goes to those who have less than others.

Prager-U level definition that has nothing to do with socialism.

Here's a concise definition:

Socialism : A range of social and economic systems characterized by social ownership of the means of production. It can also mean the transitional stage between capitalism and communism, sometimes referred to as the dictatorship of the proletariat.