Not exactly. Kevin Carson explains why.

Although (by strong implication, anyway) Paul & Co. frame the issue as the shiftless majority voting themselves loot at the expense of the hardworking rich, what’s really happening is that the rich who control the state are smart enough to understand what the system — not the free market, but the corporate economy as currently structured — needs for its survival.  The rich simply have more investment funds sitting around than there are productive outlets for, while productive capacity sits idle for want of demand.  If the government didn’t bolster aggregate demand by taxing it and then spending it into circulation, we’d be in a permanent big-D Depression.