He is a socialist. He has not (so far) come out in favor of the government entirely owning all the means of production, which is what a communist would advocate. However, the very concept of wealth redistribution is a socialist one. He’s close to the edge of socialism and communism, and it wouldn’t surprise me in the least if he later advocated nationalisation of various industries.
We are already getting nationalization of the financial services and insurnce industries.
More government involvement will probably be taking place even before Obama becomes President, if he wins. The government has handed $25 billion over to the failing auto makers. As more industries begin to fail, the government will be giving them more money, plus taking partial or complete ownership.
Imagine what will happen under Obama. There is no real difference between a Democrat, Socialist, Communist and Marxist. They are all traitors to America who want to take over the government and destroy our National economy and society.