Send a Tweet
Most Popular Choices
Share on Facebook Share on Twitter Share on LinkedIn Share on Reddit Tell A Friend Printer Friendly Page Save As Favorite View Favorites
General News

Sanders Amendment: Make Wall Street Pay for Bailout

By   Follow Me on Twitter     Message Bernie Sanders       (Page 1 of 1 pages)     Permalink    (# of views)   No comments

Related Topic(s): ; ; , Add Tags
Add to My Group(s)

View Ratings | Rate It

opednews.com

Author 7111
Become a Fan
  (131 fans)
- Advertisement -
October 1 – The Senate today will debate an amendment by Senator Bernie Sanders (I-Vt.) to impose a surtax on the wealthiest Americans to pay for a $700 billion emergency bailout of Wall Street.

"Having mismanaged the economy for eight years while continually insisting that the 'fundamentals of our economy are strong,' the Bush administration now wants the middle class of this country to bail out Wall Street," Sanders said. "Meanwhile the wealthiest people, those who have benefited most from Bush's policies and are in the best position to pay, are being asked for no sacrifice at all. This is absurd."

Senate Majority Leader Harry Reid (D-Nev.) set aside one hour to consider the Sanders Amendment to raise $300 billion from a five-year, 10 percent surtax on couples with incomes of more than $1 million and individuals earning $500,000. It is the only amendment being offered to the bill.

"Vermonters and people across America are saying very clearly that this bailout is a bad idea and that the struggling middle class should not have to pay for the greed and excesses of Wall Street. I have received hundreds of calls and more than 2,000 e-mails from Vermonters, almost all of them against this plan. Some 48,000 people all over the country have joined me in signing a letter to Treasury Secretary Paulson opposing any bailout paid for by the middle class," Sanders said.

- Advertisement -
"While the Bush administration has quickly rallied to help Wall Street, it has ignored the needs of the declining middle class. Since President Bush has been in office the wealthiest people in this country have made out like bandits and have not had it so good since the 1920s. The top 0.1 percent now earn more income than the bottom 50 percent of Americans and the top one percent own more wealth than the bottom 90 percent. Incredibly, the richest 400 people in our country saw their wealth increase by $670 billion during the Bush presidency.

Sanders also has said that any effective program to help the economy also should re-regulate the financial services industry, include an economic recovery program to put Americans to work at decent wages, and break up huge companies so that there is no longer anything that is too big to fail.

To read the amendment, click here.

 

- Advertisement -

View Ratings | Rate It

opednews.com

Bernie Sanders is the independent U.S. Senator from Vermont. He is the longest serving independent member of Congress in American history. He is a member of the Senate's Budget, Veterans, Environment, Energy, and H.E.L.P. (Health, Education, (more...)
 

Bernie Sanders Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Follow Me on Twitter     Writers Guidelines
Related Topic(s): ; ; , Add Tags
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Sanders Response to Clinton's Speech on Jobs

Saving Our Democracy

Vermont Senate Votes to Overturn Citizens United

Why Do Republicans Hate Social Security?

I Support Hillary Clinton. So Should Everyone Who Voted for Me.

Saving American Democracy