“The bailout package is far better than the absurd proposal originally presented to us by the Bush administration, but is still short of where we should be. 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 $500,00 to raise $300 billion to help bankroll the bailout. Senators, however, set aside the amendment on a voice vote. Continue reading →