Now, Socialist is a code word for "Black"

That's the argument from a couple leftists who are now trying to claim that categorizing Obama as a Socialist, is racist.

The "socialist" label that Sen. John McCain and his GOP presidential running mate Sarah Palin are trying to attach to Sen. Barack Obama actually has long and very ugly historical roots.

J. Edgar Hoover, director of the FBI from 1924 to 1972, used the term liberally to describe African Americans who spent their lives fighting for equality.

Dictionary.com has this as the entomology, or history of the word.

1827, from Fr. socialiste, in reference to the teachings of Comte de Saint-Simon, founder of Fr. socialism. Socialism is attested from 1837, apparently first in reference to Robert Owen's communes. "Pierre Leroux (1797-1871), idealistic social reformer and Saint-Simonian publicist, expressly claims to be the originator of the word socialisme" [Klein]. The word begins to be used in Fr. in the modern sense c.1835. Socialista, with a different sense, was applied 18c. to followers and pupils of Du. jurist Grotius (1583-1645).

I had previously linked to the Wikipedia entry. 

In neither entry, is there any claim that it's racist to use the word. In fact, as I showed earlier, The term, as applied, by both Marx, and the entries mentioned above, the Dictionary, and the online encyclopedia, that Obama is a socialist. He believes in Government control, and wealth redistribution. He believes that Bigger Government is the answer.

It's not racist to paint Obama as a Socialist, it's really called Truth in Advertising.