Not really. Your padding is (probably) being applied to the list item, so will only affect the actual content within the list item.
Using a combination of background and padding styles can create something that looks similar e.g.
li {
background: url(images/bullet.gif) no-repeat left top; /* <-- change `left` & `top` too for extra control */
padding: 3px 0px 3px 10px;
/* reset styles (optional): */
list-style: none;
margin: 0;
}
You might be looking to add styling to the parent list container (ul) to position your bulleted list items, this A List Apart article has a good starting reference.
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