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Paul Wellstone Mental Health and Addiction Equity Act of 2008 - Continued

Floor Speech

Date: Oct. 1, 2008
Location: Washington, DC
Issues: Health and Health Care


PAUL WELLSTONE MENTAL HEALTH AND ADDICTION EQUITY ACT OF 2008--Continued -- (Senate - October 01, 2008)

The PRESIDING OFFICER. Under the previous order, the Senate resumes consideration of H.R. 1424. There are 2 minutes of debate equally divided prior to a vote in relation to the Sanders amendment No. 5687.

The Senator from Vermont.

Mr. SANDERS. Mr. President, this bailout, caused by Wall Street's greed and irresponsibility, may cost as much as $700 billion. The simple question is: Who is going to be paying for it?

Today, in America, the top 1 percent earn more income than the bottom 50 percent. The top 1 percent have more wealth than the bottom 90 percent. Since President Bush has been in office, the middle class has seen a significant decline in their standard of living while the top 400 individuals have seen a $670 billion increase in their wealth.

What this amendment does is impose a 10-percent surtax on a household that makes $1 million a year, which raises over $300 billion in 5 years. Under this amendment, the bottom 99.7 percent of Americans will not pay 1 penny for this bailout.

The middle class has had nothing to do with causing this crisis. They should not have to pay for it, and I ask for a ``yes'' vote on this amendment.

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