Unfortunately, I have not been able to find any advantages in socialism. I will tell you the disadvantages though. This is because socialism prefers that both the richest and poorest person both have 100 dollars while capitalism prefers the richest having 1m dollars and the poorest having 1,000 dollars.
I will begin with an analogy. Let's say there is a brain surgeon. He worked really hard in college and through his career to get this far. He is very successful and makes a lot of money. Soon though, many young people who just started working minimum wage jobs declared this UNFAIR that the brain surgeon makes more than them. The government implements socialism, and soon the new workers are making the same as the brain surgeon. The brain surgeon, who has a VERY difficult job, decided to go work at McDonald's because it's easier and he'll still get the same pay. (By the way, socialism starts with taxing that brain surgeon and redistributing the money to lazy people on welfare.) Soon, you need brain surgery and can't find anybody to give it to you, and this is because all the brain surgeons quit and no new ones have taking their place. When the brain surgeon starts working at McDonald's, he works the hardest, but soon sees lazy people on the job making the same as him. He decides to be lazy too on the job. Now nobody is working hard to get to the next promotion because they don't get a pay raise. Mostly EVERYBODY doesn't work and the economy crashes. Everybody blames capitalism because by then, they've all been indoctrinated in the schools to hate what ACTUALLY works. Soon, the government realizes that the farmers quit working and they need to feed the military. That's where soviet communism comes in. "Work or die!" the government proclaims. Since everybody was relying on welfare in the past (to make as much money as higher paying jobs), they don't know how to be independent so... they now start to work for their lives, but the outcome of their economy is never as good as the outcome of a capitalist economy.
NOTE: welfare is ONLY for those who NEED it and can't get help from the community.
People say that socialism never gets applied right... but the whole reason a politician implements socialism is so that they can eventually be dictators. Socialism ALWAYS leads to 1 of two things; a revolution, or communism.
People also say that fascism is capitalism. WRONG. Fascism has the same ideology as socialism BUT it has a nationalist twist to it, thus, the Democrats erased Giovanni Gentile from history.
Another thing is... the government is trying to indoctrinate you through the school systems. (That's if this kind of question is on your homework.)