Acts 2:44-45 And all that believed were together, and had all things common; And sold their possessions and goods, and parted them to all men, as every man had need.
The first church, the one led by
the people who lived and ate and slept and traveled - if they had toothbrushes then they would have brushed their teeth together - with Jesus were Socialists. And... If they were Socialists, today's Christians should be Socialists.
The Bible did impose wage and labor regulations:
Leviticus 19:13 Thou shalt not defraud thy neighbour, neither rob him: the wages of him that is hired shall not abide with thee all night until the morning:
And business regulations:
Leviticus 19:35-36 Ye shall do no unrighteousness in judgment, in meteyard, in weight, or in measure.
Just balances, just weights, a just ephah, and a just hin, shall ye have: I am the LORD your God, which brought you out of the land of Egypt.
Socialism is the marriage of "Love thy neighbor" (Matt. 22:39) and "if any would not work, neither should he eat." (2Thes. 3:10) Welfare has several purposes. Capitalism is incapable of providing full employment, leaving a certain number of people jobless & willing to undercut the wages of those with jobs. Welfare provides wage stability and mitigates Capitalism's failures by paying people not to work. Socialism doesn't pay people not to work, but it doesn't let people starve either, it makes sure everyone has a job and that everyone shares in the rewards of their work.