The Republican presidential nominee takes on the Redistributionist In Chief.
Here is the transcript.
And, for the rookies, McCain did comply with the request to explain why socialism is bad.
"It doesn't work, number one. It's been tried many times. Second of all, redistributing the wealth creates disincentives to entrepreneurship, capitalism, small business, free enterprise. If people know that their hard earned -- the fruits of their hard earned labor are going to be taken from them and given to others, then they are obviously going to have disincentives to work. The fundamentals of the free enterprise system is that less government is the best government."