University of Chicago Alum and Vermont Senator Bernie Sanders Tells Rich People to Fork it Over

While we’ve all been busy fretting our little butts off about the economy, University of Chicago alum and Vermont senator Bernie Sanders has been formulating a plan: make the rich fork it over. The senator worked as a carpenter and journalist before parlaying into the political arena. He is the longest serving independent member of congress in American history.

According to Think Progress:

The Bush administration’s $700 billion financial bailout is roughly what the United States has spent so far on the Iraq war and would raise the national debt ceiling to $11.3 trillion. Despite the enormous scale of the request, the Bush administration is demanding that Congress “place no restrictions on the administration other than requiring semiannual reports to Congress.”

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.”

…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.”

Is it a simple plan? Yes. Does it generate significant funds? Yes. But will the privileged remember the words of JFK, who said, “Ask not what your country can do for you. Ask what you can do for your country?” That is still to be seen.