Although corporate profits now exceed their pre-recession levels, those benefits have not have not been realized by the middle class and working families who are struggling with stagnant wages and job losses. Sen. Sanders believes we must put millions of Americans back to work by rebuilding our nation's crumbling infrastructure, transitioning to sustainable sources of energy, and bringing our data and telecommunications networks into the 21st century.
Sen. Sanders also believes we must address record high youth unemployment, and recently introduced legislation that would provide federal funds to states and local communities to help young people find jobs. The Employ Young Americans Now Act would help provide 1 million young Americans with jobs and provide job training to hundreds of thousands more.
Sen. Sanders feels that those who have benefitted the most from years of tax cuts and a laissez-faire approach to corporate regulation should be the same people asked to bear the burden of digging us out of that hole. As a member of the Senate Budget Committee, he has pointed frequently to the collapse of the American middle class as median family income has declined and millions have lost their health insurance and their pensions. He said, "The reality is that we have the hollowing out of the American economy."
- Sen. Bernie Sanders (I-Vt.)
On December 10, 2010, Sen. Sanders spoke on the floor of the Senate for nearly eight hours, opposing the extension of tax cuts for the wealthy. He linked the overly generous treatment of the wealthy with the disappearance of the middle class. You can read this famous “filibuster” in its entirety here.
Sen. Sanders firmly believes we must stop profitable Wall Street banks and corporations from sheltering profits in the Cayman Islands and other tax havens to avoid paying U.S. taxes, and as such he introduced the Corporate Tax Dodging Prevention Act (S.250). He also believes that capital gains and dividends should be taxed at the same rate as other income.