Obama in 1998: 'I Actually Believe in Redistribution' of Wealth

This audio is reportedly from a 1998 conference at Loyola University. The then Illinois state Senator said clearly that he believes in the redistribution of wealth.

Democrats, go ahead and explain this one. Show your work, and factor into your work the fact that Obama said nearly the same thing to Joe the Plumber in 2008.

Update 3:06 central: Romney just mentioned this video on Cavuto.