Senator Bernie Sanders says his proposal for a new surtax on the wealthy to pay for a bailout of the financial services industry is drawing support.
Sanders says he posted a letter to Treasury Secretary Henry Paulson about the proposal on his Web site, and that it drew more than 8,000 citizen co-signers in the first 24 hours.
The Vermont independent says the bailout should be paid for with a surcharge on taxes paid by individuals making more than $500,000 a year or couples earning more than $1 million a year.
The senator says he doesn’t want the costs of the bailout to be borne by the middle class.