Redistribution of Wealth

Capitalism or Communism? The following quotes are taken from an article in the New Yorker by Steve Coll. It's a short and good read. From the article, here's what Obama said to Joe, the so called plumber:

"I do believe that for folks like me who’ve worked hard but frankly also been lucky, I don’t mind paying just a little bit more than the waitress who I just met over there. . . . She can barely make the rent. . . . And I think that when you spread the wealth around, it’s good for everybody. "

And here's what Adam Smith wrote in "The Wealth of Nations", his defining book on capitalism:

"The necessaries of life occasion the great expense of the poor. . . . The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. . . . It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion. "


The emphasis is mine. It's called common sense, not socialism and not communism. Someone needs to pay the bills.