Socialism is an authoritarian ideology. By definition, in order to fall into the socialist category, a person has to favor government control of both economic and social aspects of the citizens lives. Say what you will about his economic policy, but given Obama's support of civil rights, there's no way he could be considered a socialist.
Unfortunately redistributing the wealth is more commonly known as taxes, and this falls under the ideal of Socialism. There are many types: Libertarian Socialism, Communism, National Socialism, even something called "Social Democrat" which is what Obama is considered. Even in Canada. Obama is a socialist, most politicians are nowadays. Bush lowered taxes for a few people, but he didn't tear the IRS a new one.
Anyways, the dude (B. Obama) ran for public office, which would imply some sort of political leanings toward a taste for government programs and law-making. He was a Professor of Law, so he understands the American Legal System and where the ideas of socialism began in American politics: He can probably see which laws were enacted by Economic-Conservatives and Economic-Liberals.
He's also been in office for two months. It seems like a short period in which to scream "PINKO COMMIE!" at him; wait until May Day, that's a traditional Communist Holiday. Yes, he ran on the platform of a democrat, but hey, he talks a good game about being hopeful for the future, so let him try this increased socialism thing. You might even get a facsimile of Canada's famous Universal Health Care by 2012. ~_^