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Thinkprogress:
Sen. Bernie Sanders (I-VT) is one of the few people questioning how the country will pay for this $700 billion package. In an interview with ThinkProgress today, Sanders said that he believes that the wealthiest Americans — who have reaped enormous benefits under the Bush administration — should foot the bill:
[President Bush] has given huge tax breaks to the wealthiest people in this country, and now all these terribly conservative folks, who pride themselves on financial responsibility, want to add $700 billion.
My view: It is the fiscally responsible thing to pay for this — and given the fact that the people on top have done well [under Bush] — through a progressive tax. […]
I’ve believed that Bush’s tax breaks for the wealthy should be repealed for some time. The middle class has shrunk; the rich have become richer. […] They are paying a lower tax rate than working class people.
Specifically, Sanders is proposing a “five-year, 10 percent surtax on income over $1 million a year for couples and over $500,000 for single taxpayers,” which he says he would “yield more than $300 billion in revenue.”
ThinkProgress also asked Sanders about McCain’s claims that for the past two years, he has “warned” federal officials of problems such as a potential subprime mortgage crisis. Sanders said that since joining the Senate, he has heard very little from McCain on this subject:
Since I have been in the Senate, McCain has been here very rarely. He’s been campaigning, so I have never heard him suggest we’re heading toward the financial crisis we’re facing.
It’s one thing to be critical of those two institutions. It’s a leap to say from that, we’re going to be where we are today.
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