Amajor premise of a socialist system is: to reduce the inequality in the distribution of wealth. to make sure that those that create wealth are allowed to keep that wealth. to create incentives to encourage entrepreneurs to create jobs and economic growth. to keep tax rates extremely low so that businesses do not need to support government projects.

to reduce the inequality in the distribution of wealth. 

Explanation:

Socialism is an economic system where the means of production is held by the public. Production and distribution decisions are made by the public. This reduces the inequality in the distribution of wealth. 

This contrasts with the capitalist economic system where means of production are privately held. Production and distribution decisions are made by the market forces, which leads to inefficiency. There's also class division in a capitalist system as there's inequality in the distribution of wealth.

The capitalist economic system create incentives to encourage entrepreneurs to create jobs and economic growth.

I hope my answer helps you.