Liberalism and Socialism

In the comments section of this post is a debate over whether or not liberals are socialists.
I’d like to leave you with the following quote from Winston Churchill which, I think, is exactly right.

Liberalism is not Socialism, and never will be. There is a great gulf fixed. It is not a gulf of method, it is a gulf of principle. […] Socialism seeks to pull down wealth. Liberalism seeks to raise up poverty. Socialism would destroy private interests; Liberalism would preserve private interests in the only way in which they can be safely and justly preserved, namely by reconciling them with public right. Socialism would kill enterprise; Liberalism would rescue enterprise from the trammels of privilege and preference […] Socialism exalts the rule; Liberalism exalts the man. Socialism attacks capital; Liberalism attacks monopoly.

Discuss.