Just looking at the words you would be correct. However the phrase almost always refers to a a government act of moving money from people with more money to people with less money in contradiction to the stated intent of the founders. Hence it is a "dirty word."
From wiki:
In the United States, some of the founding fathers and several subsequent leaders expressed opposition to redistribution of wealth. Samuel Adams stated: "The utopian schemes of leveling [redistribution of wealth], and a community of goods, are as visionary and impracticable as those that vest all property in the Crown. [These ideas] are arbitrary, despotic, and, in our government, unconstitutional."[13] James Madison, author of the Constitution, wrote, "I cannot undertake to lay my finger on that article of the Constitution which granted a right to Congress of expending, on objects of benevolence, the money of their constituents."
United States President Grover Cleveland vetoed an expenditure that would have provided $10,000 of federal aid to drought-stricken Texas farmers. When explaining to Congress why such an appropriation of taxpayer money was inappropriate, he stated:
I can find no warrant for such an appropriation in the Constitution; and I do not believe that the power and duty of the General Government ought to be extended to the relief of individual suffering which is in no manner properly related to the public service or benefit. A prevalent tendency to disregard the limited mission of this power and duty should, I think, be steadily resisted, to the end that the lesson should be constantly enforced that, though the people support the Government, the Government should not support the people. ... The friendliness and charity of our fellow countrymen can always be relied on to relieve their fellow citizens in misfortune. This has been repeatedly and quite lately demonstrated. Federal aid in such cases encourages the expectation of paternal care on the part of the Government and weakens the sturdiness of our national character, while it prevents the indulgence among our people of that kindly sentiment and conduct which strengthens the bonds of a common brotherhood.[14]
In contrast when two people make a mutually beneficial transaction such as a thirsty man trading eggs to a hungry man for water that is not generally called a redistribution of wealth it is just trade.
Hermin Cain wants to add that you have to say your not a Muslim to get it as well.
