Sanders: No on Middle Class Bail Out of Wall Street

WASHINGTON, October 1 - The Senate tonight voted 74-25 for a $700 billion Wall Street bailout.

Senator Bernie Sanders (I-Vt.) voted against the bill that would put Wall Street's burden on the backs of the American middle class.

"If a bailout is needed, if taxpayer money must be placed at risk as we bail out Wall Street greed, the people who pay for it should be the millionaires who benefited most from Bush's reckless economic policies, not the struggling middle class," Sanders said.

Sanders proposed a five-year, 10 percent surtax on families with incomes of more than $1 million year and individuals earning over $500,00 to raise $300 billion to help bankroll the bailout.

Sanders' amendment was defeated on a voice vote.