Will Barack Obama Make the U.S. Socialist?

Will Barack Obama make the US socialist? Let me peer into my crystal ball. Oh yeah, it is in the shop. Well, without my crystal ball, I can only comment on what Barack Obama has said. It is true that during the campaign Barack Obama espoused several socialist views.

Individuals that follow politics are familiar with the term "socialist". However, many other people may not be. Webster Dictionary (2008) defines socialism as "any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods." Does Barack Obama's statements meet the definition of Socialism?

"My plan will spread the wealth around." Barack Obama Barack Obama made this statement in a conversation with "Joe the Plumber". Reading Barack Obama's plan offers some insight into his meaning. "Barack Obama will ask the wealthiest 2% of families to give back a portion of the tax cuts they have received over the past eight years to ensure we are restoring fairness and returning to fiscal responsibility." Excerpt from BarackObama.com. "Wealthiest 2%" is defined as anyone making over $250,000 a year. Certainly, in the short term, raising taxes would raise additional revenue. How would this additional revenue be used? Barack Obama sets forth many objectives. Among these are implementing a $500 tax cut for workers or $1000 tax cut for working couples, provide tax credits to reduce the cost of healthcare, and increase tax credits for college.

Many people recognize this policy as redistribution of wealth. They do not see this as socialist. After all, socialism is the government "ownership and administration of goods." (Webster, 2008) Many people, including our media, do not considered wealth as goods. Economics shows us that wealth is a good in the financial market. By definition, President Obama does want to implement some socialist policies. These policies alone will not make the United States socialist. They will begin us down the path to socialism. American reaction and future elections will determine if we continue down this path.