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UPDATE: If Obama is a socialist, so was Reagan. "Obama's tax policy relies on the same progressive approach that has been the cornerstone of American tax policy since the federal government first collected an income tax in 1863, an approach embraced by Republicans and Democrats. It was based on the Tax Act of 1862, which President Abraham Lincoln signed, and which imposed a 'duty of three per centum' on all income over $600, and five percent on income over $10,000.
The idea is that the wealthy pay a larger share of their income because they are more able to afford it. To the extent the government then gives some of the money to the less-wealthy through various programs, you could say the income is being redistributed. But that concept has been embraced by Republicans and Democrats for well over a century.
That's a far cry from true socialism, which is defined as support for 'governmental ownership and administration of the means of production and distribution of goods.'
That's enough for us to set the Truth-O-Meter ablaze, but let's dig a little deeper to explore whether Obama's main policies can accurately be called socialism.
Read Politifact, Rick Perry says Barack Obama is a socialist, which finds the claim a Pants on Fire lie.
"[I]f Obama’s [tax] proposal is intended as a huge redistributionist scheme designed to level our society by bringing about government-imposed equality, then it can already been seen as a pretty massive failure." Read the Washington Post, How Obama’s tax hikes would really impact the rich, in three easy charts, one of which shows "what taxes people would pay in 2013 under various tax regimes, when the Obama proposals would take effect":
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