Capitalism and socialism both promote inequality. Capitalism concentrates wealth and power in a small group of private capital holders. Socialism concentrates the same wealth and power in a small group of government officials and nepotistic appointees. Given the choice, I'd choose capitalism. While the idea of equality under socialism is appealing, this equally usually means that everybody is equally poor than equally rich. If I'm going to be subjected to the rule of a power elite, I'd like to do it in a system where there was at least some chance of upward socioeconomic mobility.
Socialism, not capitalism, would lead to true social equality in the world. Democracy would be brought to the economic process. Workers would have more power. The ultimate goal of socialism is to get rid of all inequality. All people would have human rights and the competition and disparity between lower and upper class people would no longer exist.