The thing you call “a monthly check” ...
It is the amount that will be spent on taxes for necessity level spending... ie it is a refund of taxes to be paid. Specifically, it is 23% of the poverty level of spending.
Now, you may argue with its calculation mechanism, but it isn’t socialism - you’ve got it backwards. A flat tax isn’t socialistic, a heavy, progressive income tax, however, is socialistic.
Do you call today’s standard deduction or child credit socialism?
Actually its a vote buying gimmick.