"We grudge no man a fortune in civil life if it is honorably obtained and well used. It is not even enough that it should have been gained without doing damage to the community. We should permit it to be gained only so long as the gaining represents benefit to the community. … The really big fortune, the swollen fortune, by the mere fact of its size, acquires qualities which differentiate it in kind as well as in degree from what is possessed by men of relatively small means. Therefore, I believe in a graduated income tax on big fortunes, and … a graduated inheritance tax on big fortunes, properly safeguarded against evasion, and increasing rapidly in amount with the size of the estate." Teddy Roosevelt New Nationalism 1910

The above was from a speech given by Teddy Roosevelt, John McCain's proclaimed hero and idol, it sounds very similar to Obama's position with regards to taxation. According to John McCain's characterization of Barrack Obama's postion, I guess this would make Teddy Roosevelt a socialist too.