Self-proclaimed Socialist Sen. Bernie Sanders (I-Vt.) said today that Socialist Francois Hollande’s win in France’s presidential election is a sign of things to come in the United States.
“In the United States and around the world, the middle class is in steep decline while the wealthy and large corporations are doing phenomenally well,” Sanders said. “The message sent by voters in France and other European countries, which I believe will be echoed here in the United States, is that the wealthy and large corporations are going to have to experience some austerity also and that that burden cannot solely fall on working families.”
Though President Obama and Hollande have not met in person yet, the two share some platform planks including targeting the rich with higher taxes and outlining “investment spending” as a growth alternative to austerity measures.
Hollande wants to levy a 75 percent tax rate on those earning more than a million euros a year and a 45 percent tax rate on those earning more than 150,000 euros. He also wants to limit executive pay to 20 times that of the average worker’s salary.
“In the United States, where corporate profits are soaring and the gap between the rich and everybody else is growing wider, we must end corporate tax loopholes and start making the wealthy pay their fair share of taxes. At the same time, we must protect Social Security, Medicare and Medicaid,” Sanders said. “Austerity, yes, but for millionaires and billionaires, not the working families of this country.”
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