OK, we start with the observation that, from this side of the Atlantic, Bernie Sanders is as much of a Socialist as Boris Johnson is!
Socialism can only work on a community basis. Which is to say that each community decdes what it can produce and how much, then negotiates with neighbourng communities to exchange the surplus for commodities they can't produce. I suspect this kind of thing went on a lot in the Neolithic, when population was small and the communities largely self-sufficient and distant from each other.
Bigger populations nd bigger communitis requird different mechanisms, so thngs changed over the centuries.
Now - and this is solely my view - things need t be done differently.
The role of government should be to take care of the people in a simple, practical way devoid of ideology. This means ensuring, at the least, that everyone has somewhere to live, enough to eat, warm clothing, healthcare, education, access to public transport, safety and security. All of these as of right.
Beyond these necessities, private business can provide the rest.
Financing these basic provisions will require taxation, and it is only fair and reasonable that the heavier burden of taxation be placed on those best able to bear it. The existence of very high-level 'punitive' taxes on the outrageously (and usually underservingly) wealthy will serve to discourage the excessive accumulation of wealth, placing money back into circulation where it belongs.
Regulations such as minimum wage, minimum working conditions, prevention of monopolies, unfair business practices and over-pricing of commodities (especialy essentials) should be done with a balance between incentivisation and enforcement, as in my father-in-laws' favourite saying: "You get more with a kind word and a two-by-four than you do with just a kind word!"
Government should be as decentralised and devolved as is practicable. Decision-making should be pushed down to the lowest practical level, with escalation discouraged unless absolutely necessary. Management should be the same, the people on the ground know the situation better than a senior officer in an office miles away.
