This is correct.
> Moving towards "socialism" by increasing taxation on the ultra-wealthy
This is not a move toward socialism.
Socialism is defined by communal ownership of the means of production and exchange. Capitalism is defined by private ownership of the same. These terms are specific in meaning, as they are jargon in the field of economics.
I'm not particularly interested in engaging in a political or economic debate right now, so I'm not trying to pass judgment on what is good or bad, but if you're going to make a post about people mischaracterizing a concept while doing so yourself.
Ninja edit: That capitalism and socialism are often seen in combination with other particular social and economic arrangements does not in any way make these things a component of socialism or capitalism.
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