How are the candidates handling the “socialist” discussion?

Obama
responded to McCain’s “socialist” label yesterday in a speech
delivered in Raleigh, North Carolina.  Here’s the relevant excerpt,
quoted from his prepared remarks.  (Read his complete remarks here.)

      “Senator
McCain says that we can’t spend the next four years waiting for our
luck to change, but you understand that the biggest gamble we can take
is embracing the same old policies that have failed us for the last
eight years. We’ve tried it John McCain’s way. We’ve tried it
George Bush’s way. It hasn’t worked. Deep down, Senator McCain knows
that, which is why his campaign said that
“if we keep talking about the economy, we’re going to lose. Pbj

    
“That’s why he’s spending these last few days calling me every
name in the book. I’m sorry to see my opponent sink so low. 
Lately, he’s called me a socialist for wanting to roll back the Bush
tax cuts for the wealthiest Americans so we can finally give tax relief
to the middle class. By the end of the week, he’ll be accusing me
of being a secret communist because I shared my toys in Kindergarten.”

      He
then appeared to depart from his prepared remarks, ad-libbing something
about sharing his peanut butter and jelly sandwich in kindergarten.

     What
do you think of Obama’s response? Should he say more?  Should
he ignore the “socialist” charge?

       What
do you think of McCain’s and Palin’s strategy to apply the “socialist”
epithet every chance they get?  Are voters buying it?

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