I’m bored, so I’m going to deconstruct this quote that is often attributed to Margaret Thatcher and show why it is not coherent. This is not endorsement of that which it is used to argue against, but a warning against using sloppy thinking.
The set of possible and existing social systems that are called “socialism” are characterized by a particular kind of distribution of resources/wealth. The “other people” referred to by the quote are the people to whom wealth is alternatively distributed to under non-socialism. But, under socialism, “other people’s money” does not in fact belong to “other people”. Instead, it belongs to whomever socialist political theory assigns it to. This is why the quote attributed to Thatcher is incoherent.