What Exactly is a Socialist?

People know that Bernie Sanders is a self proclaimed Socialist. Many people, however, have no idea what that means.

Here is the dictionary definition of "socialism" --

1) a way of organizing a society in which major industries are owned and controlled by the government rather than by individual people and companies

2) any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods

3) a system of society or group living in which there is no private property

If Bernie Sanders is a socialist, then this is what he believes.  I wonder how many people out there really want "government ownership" and "no private property".

Scary stuff folks.