Thursday, October 2, 2008

Let The Rich Bail Them Out

Senator Bernie Sanders voted NO on the proposed $700 billion US government bailout of failing Wall Street financial firms.

 "If a bailout is needed. if taxpayer money must be placed at risk, if we are going to bail out Wall Street, it should be those people who have caused the problem, those people who have benefited from President Bush's tax breaks for millionaires and billionaires, those people who have taken advantage of deregulation who should pick up the tab, not ordinary working people"

Sanders proposed a five-year. 10 percent surtax on families with incomes of more than $1 million a year and individuals earning over $500,000 to raise $300 billion to help bankroll the bailout.

His fellow Senators, however, set aside the amendment on a voice vote.

Read Sander's full Senate floor speech here in which he elaborates on the bailout bill's flaws.

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