[Let's get behind this with emails, letters and phone calls. ~DS]
As he promised earlier this week, Sen. Bernie Sanders put some teeth into the “shared sacrifice” argument Thursday by introducing the Emergency Deficit Reduction Act. It would impose a 5.4 percent surcharge on Americans whose annual incomes exceed a milliion dollars. That, he says, would raise in the neighborhood of $50 billion. The bill would also get rid of tax breaks for oil and gas companies to the tune of $3.5 billion. This comes close to the $61 billion that House Republicans (and some Democrats) have decided to chop from programs in education, environmental regulation, heating subsidies for the poor, Planned Parenthood, nutrition, the Peace Corps and others. Says Sanders:
The American people get it. They understand you can’t move toward deficit reduction just by cutting programs that working families, the middle class, low-income people desperately need in order to survive in the midst of this terrible recession. They understand that serious, responsible deficit reduction requires shared sacrifice.