Several months ago, Bernie and Congressman Ted Deutch introduced a constitutional amendment to overturn the disastrous Supreme Court decision in Citizens United. The importance of that amendment and other efforts to overturn Citizens United or to diminish its impact is becoming more and more apparent.
In his famous speech at Gettysburg during the Civil War, Abraham Lincoln talked about America as a country “of the people, by the people and for the people.” Today, as a result of Citizens United, we are rapidly moving toward a nation of the rich, by the rich and for the rich. Despite having the most unequal distribution of wealth and income of any major country on earth, millionaires and billionaires want more, more and more.
In recent weeks, multi-billionaires such as the Koch brothers and Sheldon Adelson have made it clear that, as a result of the Citizens United decision, they intend to spend hundreds of millions of dollars to buy this election for candidates who support the super-wealthy.
We must overturn Citizens United if we are serious about maintaining the foundations of American democracy. We need to pass the Disclose Act, which will come to the floor of the Senate in a few weeks, if we want to diminish the decision’s horrendous impacts.
Read more about the Koch brothers in Politico »
Strengthen Social Security
At a time when all Republicans and some Democrats are supporting cuts in Social Security, Bernie has a different approach. Raising the Social Security payroll tax cap on incomes above $250,000 would make Social Security strong for the next 75 years while affecting only 1.4 percent of the wealthiest workers in the United States. That’s what the Center for Economic and Policy Research concluded in an analysis of a bill Bernie introduced. “The report makes clear that if we simply asked the top 1.4 percent of Americans to pay their fair share into the Social Security Trust Fund, Social Security would be solvent for the next 75 years,” Bernie said.
Watch Bernie at a rally on Tuesday »
Bankers and Bank Regulators
Bernie introduced legislation
to prohibit banking industry officials from serving as directors of the 12 Federal Reserve regional banks. “If this is not a clear example of the fox guarding the henhouse, I don’t know what is,” he said.He released a report on Tuesday showing that 18 bankers, including Jamie Dimon of JP Morgan Chase, are sitting or have sat as members of the Fed while their banks received huge bailouts. “You think there`s a conflict of interest there? You think we should deal with that?” Bernie asked during an interview on MSNBC.