That's not necessarily socialistic. It could represent a desire to get people back to work.
King was moving with his time. Where he would have gone after the Sixties were over isn't something we'll ever know.
But this is: "We are demanding an emergency program to provide employment for everyone in need of a job, or if a work program is impractical, a guaranteed annual income at levels that sustain life in decent circumstances. It is now incontestable that the wealth and resources of the United States make the elimination of poverty absolutely practical."