I;ve tried to explain the difference between socialism, communism, totalitarianism, monarchy, and republic to Americans many times. it's a section of the American public that don't know the differences.
I've just looked at dictionary. com. They give two conflicting meanings.
a theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community as a whole or to the state.
(often initial capital letter) a system of social organization in which all economic and social activity is controlled by a totalitarian state dominated by a single and self-perpetuating political party.