Obama Not A Socialist, McCain Admits (VIDEO) Transcript, via CNN: KING: You don't believe Barack Obama is a socialist, do you? MCCAIN: No. But, I do believe -- I do believe that he's been in the far left of American politics. He has stated time after time that he believes in "spreading the wealth around." He's talked about courts that would redistribute the wealth. & KING: Concerning spreading the wealth, isn't the graduated income tax spreading the wealth? If you and I paid more so that Jimmy can get some for him, or pay for a welfare recipient, that's spreading the wealth. MCCAIN: Well, that's spreading the wealth in the respect that we do have a graduated income tax. That's a far cry from taking from one group of Americans and giving to another. I mean, that's dramatically different.