How would you explain socialism to a child?

Kids have not been warned about the dangers of socialism. They are told that in socialism everyone is equal. What they are not told is that while everyone is equal, no one has anything. Should a child ask that question it should be answered honestly and not sugar coated. That question is best answered by someone from a country that is socialist. I have a friend from cuba who very vividly describes the "equality" he experienced while standing in line waiting on rations of toilet paper and sugar in cuba.