Socialism: Trickle Up Poverty

It has been called a Robin Hood budget: The spending plan President Obama sent to Congress last week would give the poor new tax cuts, new college loans and a new health care system by taking nearly $1 trillion from the rich in new taxes.

Conservative radio host Rush Limbaugh and other Republicans are blasting the plan as "socialist" and accusing the administration of "class warfare." Even Democrats are balking at a key element of the plan, a proposal to raise money for health care reform by limiting the value of itemized deductions, including on mortgage interest and charitable contributions, for the nation's top earners.