Speaking before a meeting of the World Economic Forum in Davos, Switzerland (basically an international meeting of the wealthy elite), Vice President Joe Biden slammed socialism in a speech:
I am pleased to announce that multiple media outlets are reporting Sen. Bernie Sanders (I-VT) will announce his bid for the Democratic Party’s presidential nomination on Thursday.
I’m also pleased to announce that I am probably the first person in the entire country to officially endorse Bernie’s presidential bid.
While most Americans are not yet familiar with Bernie and his style of politics, those who know him know that he’s a progressive firebrand who wants to put the American government in the hands of the people, not just political elites and the wealthy. As Mayor of Burlington, Vermont, Bernie helped make Burlington one of the most attractive places in America to live. As a member of both houses of Congress, Bernie has fought for progressive policies to rebuild the American middle class, protect American consumers and workers, and provide for the well-being of all Americans. Most recently, as a U.S. Senator, Bernie has railed against the proposed Trans-Pacific Partnership (TPP) and fast-track authority for President Obama’s Global Trading Regime. The TPP and other proposed free trade deals, if fully implemented, would destroy much of what little American economic sovereignty remains and cost America thousands of jobs. In his upcoming presidential campaign, Bernie has promised to make universal health care, rebuilding our nation’s crumbling infrastructure, making the U.S. Tax Code more progressive, and putting Americans back to work.
For those of you who doubt Bernie’s ability to win the Democratic presidential nomination, the Iowa caucuses, the first presidential nomination contest of any kind in the entire country, usually see extremely low turnout, which means that, if Bernie can get Iowa progressives to turn out in a big way, he could very well win many of Iowa’s delegates to the 2016 Democratic National Convention (DNC). After Iowa is the New Hampshire primary, which will be held in a state that is trending more and more Democratic thanks to people from Bernie’s home state of Vermont moving to New Hampshire and bringing their progressive political views with them. If Bernie can win both of those contests, he’ll be in a hotly-contested race for the Democratic nomination, if not the favorite for the nomination.
I hope that I’ll be able to vote for Bernie Sanders for the Democratic presidential nomination in the Illinois primary next year. I’ve longed for a Democratic presidential candidate who is more than willing to make the wealthy and the political elites squeal, and now we’re going to have one!
For far too long, the tepid Democratic leadership on Capitol Hill has lacked any real comprehensive plan to overhaul the federal tax code to increase taxes on the wealthy and provide real tax relief to middle-class Americans.
As if someone turned a light on, U.S. House Minority Leader Nancy Pelosi of California and U.S. Representative Chris Van Hollen of Maryland unveiled a progressive tax reform plan yesterday. This plan would repeal tax breaks that benefit the wealthy and institute a new fee on stock trades in order to provide tax relief for middle-class Americans:
Senior Democrats, dissatisfied with the party’s tepid prescriptions for combating income inequality, are drafting an “action plan” that calls for a massive transfer of wealth from the super-rich and Wall Street traders to the heart of the middle class.
The centerpiece of the proposal, set to be unveiled Monday by Rep. Chris Van Hollen (D-Md.), is a “paycheck bonus credit” that would shave $2,000 a year off the tax bills of couples earning less than $200,000. Other provisions would nearly triple the tax credit for child care and reward people who save at least $500 a year.
The windfall — about $1.2 trillion over a decade — would come directly from the pockets of Wall Street “high rollers” through a new fee on financial transactions, and from the top 1 percent of earners, who would lose billions of dollars in lucrative tax breaks.
Unfortunately, since Republicans control both houses of Congress, this is going absolutely nowhere for at least the next two years. However, for Democrats to simply advocate such a bold plan is a big step forward towards combating the rampant problem of income inequality in this country and restoring the American middle class.