Gov. Sarah Palin added a massive windfall profits tax on oil companies in Alaska.
The $6 billion in new tax revenue was redistributed to every man, woman and child in Alaska.
$2,000 from the oil wealth fund and an additional $1,200 from the Palin tax increase was redistributed, giving every Alaskan a check for $3,200.
Palin's tax increase and wealth redistribution program was so extreme that BP Alaska and Conoco Phillips have delayed or scrapped new projects.

And yet, according to McCain, returning to the Clinton era tax structure is "socialism"?

Details (edit):

"Over the opposition of oil companies, Republican Gov. Sarah Palin last year approved a major increase in taxes on the oil industry — a step that has generated stunning new wealth for the state as oil prices soared. Alaska collected an estimated $6 billion from the new tax during the fiscal year that ended June 30. Palin's administration last week gained legislative approval for a special $1,200 payment to every Alaskan. That check will come on top of the annual dividend of about $2,000 that each resident could receive this year from an oil-wealth savings account.
The industry warns new taxes are already discouraging future exploration and development. "Clearly, from the investor standpoint, Alaska has become a less attractive place to invest exploration and production dollars," said Marilyn Crockett, executive director of the Alaska Oil and Gas Association."

http://seattletimes.nwsource.com/html/loca...

Key to understanding the code:
Taking money from BP and handing it out to the barflies in the Mug Shot Saloon in Wasilla is "sharing the wealth"
Returning to the tax code as it existed under Bill Clinton is "spreading the wealth".
One is good, the other is "Marxism".