There are also several cultural differences to countries that have implemented communism on earth. For instance, family isn't so important in these societies but I would believe that should always be a core element of any society and it would be a bitter mistakes to ignore it.
Communistic countries also don't value material things as greatly (or at least cannot aquire them like a capitalistic country can - we can buy what we want). There is a parallel in this regard to the federation (just for example since there isn't much to refer to), but the culture embraces living their own lives because it really would be more interesting than playing a video game. In any case, a holodeck pretty much supplies all your needs
Also many people that lived on earth actually had a lot of materialistic things - there own homes or apartments, computers, some luxeries and even their own businesses (well, open-organizations since there is no money like Sisko's dad's restaurant or the independant science and argriculture projects that are not part of starfleet - both on earth and other colonies).
I actually had a list of key elements that were part of a communistic government and there were some similitaries, but there were differeneces. The key thing to note is that the outcomes (at least the hopeful outcomes) might be the same, but the steps to achieve these outcomes are somewhat different.