The only possible way I could see this happening is if something called the "Law of Consecration" were actually in practice, but it was only ever practiced in some of the most rural areas of Utah, so I doubt it. Mormonism is by its very nature, with the exclusion of the concept of the Law of Consecration (which is completely out of practice), very closely associated with concepts that are normally attributed to Classical Liberalism and Libertarianism. Mormonism preaches very strongly about the importance of individual agency. If you're familiar with the folklore and teachings, there is something called the "Pre-existance" in which Lucifer attempted take away human agency by saying that he would be the only begotten, and that he would force everyone to live righteously so that they could enter heaven. Jesus then volunteered himself as the only begotten, saying that it was up to us how we were going to live our lives, thus granting us agency, and the ability to choose our own outcomes in the afterlife, which was God's plan all along.
Individual freedom and liberty therefore is at the heart of Mormon theology, and conflicts directly with socialism, which is about the good of the group, and not of the individual.