The nation could certainly use more Senators with Bernie Sanders’ perspective and his willingness to act for the common good.
Writing in The Nation, Sanders proposes to levy a 10 percent surtax on the income of individuals above $500,000 a year, and $1 million a year for couples in order to provide liquid capital for the nation’s beleaguered lending institutions. Sounds good to me.
Here’s what he has to say about the Bush/Paulson plan.
This proposal as presented is an unacceptable attempt to force middle-income families (and our children) to pick up the cost of fixing the horrendous economic mess that is the product of the Bush administration’s deregulatory fever and Wall Street’s insatiable greed. If the potential danger to our economy was not so dire, this blatant effort to essentially transfer $700 billion up the income ladder to those at the top would be laughable.
That’s not all that’s laughable coming from these bandits. Sadly, it’s just this week’s version of laughable.