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Friday, July 27, 2012

Worth Reading


Quotes from speech given by Sen. Bernard Sanders an Independent  on 

 
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 ...We have a $16 trillion national debt and we have a $1 trillion deficit. I think all Americans understand this is a very important issue, and it is something we as a nation are going to have to grapple with...
...Now, what do my Republican friends and some Democrats say? Well, they come to the Senate floor and suddenly--after going to war without paying for it, after giving huge tax breaks to the rich, after deregulating Wall Street--realize we have a deficit problem, and they are very concerned about this deficit problem. They come to the Senate floor and say: The only way we can go forward is to cut Social Security. Social Security is funded independently. It hasn't added one nickel to the deficit, but we are going to cut Social Security anyway. We are going to cut Medicare, we are going to cut Medicaid, we are going to cut Pell grants, we are going to cut education, and we are going to cut environmental protection. That is deficit reduction.
Are we going to ask millionaires and billionaires, who are doing phenomenally well, whose effective tax rate is the lowest in decades, to pay one nickel more in taxes? No, we can't do that, but we can cut Social Security, Medicare, Medicaid, education, and every program that the children, seniors, and working families of this country depend upon.
Now, to add insult to injury in terms of this movement supported by big-money interests that have so much influence over what goes on here in Congress, it is important to look at the playing field of the American economy today to understand what is going on. Are the people on top really hurting and suffering? Are large corporations today really struggling under onerous corporate taxes? The answer is, obviously not.
We don't talk about it enough, and too few people even mention it, but I do, and I will continue. It is important today to understand that the United States has the most unequal distribution of wealth and income since the 1920s and the most unequal distribution of wealth and income of any major country on Earth. Why is that important? It is important to know that. Before we cut Social Security, Medicare, Medicaid, education, and the ability of working-class kids to go to college, we have to know the condition of how people are doing today. The middle class today is shrinking and poverty is increasing. When we cut food stamps and Medicaid, we are going to hurt a whole lot of people, and in some cases very tragically.
Just last week a member of my staff went to southwest Virginia, and she spent the day at a program in which thousands of people in that area were lining up to get dental and health care because they didn't have any health insurance. There are 45,000 Americans who will die this year because they don't have health insurance and can't get to a doctor in time. There are people who say: Let's cut Medicaid. There are people all over this country who can't find a dentist. There are children who are suffering from dental decay. Let's cut Medicaid. Well, I don't think so.
If we look at the country, the middle class is shrinking, people are hurting, but people on top are doing phenomenally well. Very few people talk about it. I am going to talk about it. In the last study we have seen in terms of income distribution in this country--and that is what happened between 2009 between and 2010--93 percent of all new income created over that year went to the top 1 percent. I will say it again. Ninety-three percent of all new income in that year went to the top 1 percent. The bottom 99 percent had the privilege of sharing the remaining 7 percent. Yet, when we ask the people on top to maybe pay a little bit more in taxes, oh my goodness, there are lobbyists all over Capitol Hill saying: We can't afford to. We are down to our last $50 billion. We just can't afford another nickel in taxes. We need that money now. Thanks to Citizens United, we can pump that money into political campaigns.
One family who is worth $50 billion is going to put $400 million into the campaign. Another guy who is worth $20 billion can't pay more in taxes, but he does have hundreds of millions to pour into political campaigns.
In terms of distribution of wealth, which is a different category of costs than distribution of income, we have an incredible situation. I hope people understand what is going on in this country, where one family--one family, the Walton family, of Wal-Mart--now owns more wealth at $89 billion than the bottom 40 percent of the American people. One family owns more wealth than the bottom 40 percent. Do we know what some folks want to do here? They want to repeal the entire estate tax and give that family a very substantial tax break, because owning $89 billion is obviously not enough. They are struggling. We have to give them a tax break while we cut Social Security, Medicare, and Medicaid. If that makes any sense to the American people, I would be very surprised, and it does not make sense to the American people.
...My guess is if we go to New Hampshire, Maine, or any other State in America and we say to people, we have a deficit problem and the choice is between cutting Social Security or asking millionaires and billionaires to pay more in taxes, there is, in my view, no State in America--no State in this country, no matter how red it may be--where people will say: Cut Social Security and Medicare and Medicaid, but don't raise taxes on millionaires and billionaires. I don't believe that is true anyplace in America...
...There was a study that recently came out that talks about the ability of billionaires and corporations to use tax havens. What we know--and I am a member of the Budget Committee--is that millionaires and billionaires and corporations in this country are avoiding paying about $100 billion every single year by using tax havens in the Cayman Islands, in Bermuda, Panama, and other countries. Maybe, just maybe, before we cut Social Security and Medicare, we might want to pass legislation to make those people start paying their fair share in taxes and do away with those tax havens...
...I hope the American people pay rapt attention to this debate, and I hope the American people get involved in this debate, because if they do not, mark my words, within 4 months, a handful of people, supported by corporate America and the big money interests, are going to bring down to this floor a deficit reduction proposal which will cut Social Security, Medicare, Medicaid, and give more tax breaks to the wealthiest people in this country. It will have virtually all Republican support. It will have some Democratic support. If we don't aggressively oppose this approach, that is exactly what will happen.
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