From the Thom Hartmann Program, Friday, Setpember 26, guest, Senator Bernie Sanders (I-Vermont):
Caller: I just wanted to ask you if you share my anger at the Democratic leadership and Dodd and Frank. The way I’m seeing it, they have embraced the Paulson bailout plan, with modifications, but basically, they’ve embraced the urgency of it and that that’s the only way to do it, even though there’s a whole slew of economists saying there are other ways and let’s put the brakes on this and slow down. And now I see the Republicans have taken that and said “Let’s stop”. I think this is the worst thing the Democrats have ever done. Is it just me?
Sanders: No. As a matter of fact I just made that point to Chris Dodd within the last hour. My wife in Burlington is a very good observer. She doesn’t get caught up in the turmoil, and she’s sitting home watching the TV, and her perception is that in fact it is now that Democrats are identified with Bush’s bailout program while the right wing Republicans are out there saying they’re going to protect taxpayers from Wall Street.
There’s going to be some meetings today and I will continue to voice that perspective. Number one, we should be thinking thoughtfully about this. It is not clear that we have to move in quite the time frame that Mr. Paulson has suggested. And number two, bottom line is if a bailout is to occur, then the people, the class of people, who caused the problem, pay for it.
Barney Frank, to his credit, has supported the concept and has been vocal. On NPR the other day he repeated his thought that there should be surtax on the very wealthy. But we are not seeing that in the plan.
In the House Peter DeFazio is proposing a stock transfer tax of a quarter of one percent that would raise about $150 billion per year, and in that sense we would let the stock market bail out the stock market.
Either of those ideas makes a lot of sense. Unfortunately, the Democrats have not embraced them yet.
There’s been an immense capture of wealth by the upper classes during the Bush Administration. Now’s the time to give back. But the idea that the people who benefited from Wall Street’s malfeasance should pay for it is never even broached. It’s eerie.
Piece of Mindful 