Sen. John McCain (R-AZ) made the same charge in 2008, saying, “that is what change means for Barack the Redistributor: It means taking your money and giving it to someone else. He believes in redistributing wealth, not in policies that grow our economy and create jobs.” But if Obama is truly out to redistribute the wealth, he’s not doing a bang-up job of it, as more wealth has moved to the top of the income scale and the country has gotten more unequal.
The Census Bureau reported last week that income inequality increased in 2011. The Gini coefficient, which measures inequality, has only risen (signalling growing inequality) while Obama has been in office, as this chart from St. Louis Federal Reserve data shows:
Of course, with a larger share of the income, comes a larger share of the wealth. As the Congressional Research Service shows, both the richest 10 percent and the richest 1 percent saw their share of total net worth increase between 2007 and 2010: