The Liberty Union P.0. 80x 602 ESSEX JUNCTION. VERMONT 05452 =: SANDERS FOR GOVERNOR FOR IMMEDIATE RELEASE 864-7061 My name is Bernard Sanders. 1 am formally announcing today my intention to seek the Liberty Union nomination for Governor of Vermont. I want to say here and now that there ia no doubt in my mind that the candidates of the Liberty Union Party will do far better than we have ever done before, I also want to say that we are in this race to win. The fundamental and over-riding issue in this campaign is whether the people who vresently own and control the state of Vermont - and the nation - should be allowed to maintain their positions of incredible power. In my opinion the heads of the multi-billion dollar banks and corporations, and their political representatives in Washington and Montpelier, have had their chance, and they have failed miserably, It is time for them to move over, quickly, and for the oppressed people of this state and nation - the people who work for a living - to take immediate control of the economy if we are to survive. In America today 2% of the population owns more than 1/3 of the national wealth, which includes 80% of the publicly owned stock and virtually all of the local, state and federal tax exempt bonds. At a time when 30,000 Vermonters are unable to find jobs, when approximate- ly 50,000 workers earn less than $3,00 an hour, when many of our elderly people peep are facing severe economic deprivation, the gap between the rich and the poor - both in Vermont and the nation - is growing wider, The major question that I will attempt to address during the course of this campaign is the-following: How can the people of our state& Dest use the state's wealth, natural resources, and labor force in order to provide a decent standard of living for all Vermonters. During the coming months of this campaign John Francoyand I will be releasing a number of specific proposals directly relating to that question. For the moment, however, in this first statement of the campaign, I will respond to that question in general terms. 1 am unalterably oprosed to the continued economic blackmail of this state by the giant banks and corporations. From New York City to chi1e, from Italy to Vermont, the huge multi-billion dollar banks and corporations make the essential decisions which determine how people will live, or die. In New York Gity, for example, the government of that city has completely abdicated its role as‘S representative of the people there and has been replaced by the banker's dominated Emergency Financial Control Board, In the underdeveloped world, 3rd world countries are in debt to the major banks to the tune of $100 billion dollars - and many of the economies of the developing world are completely dominated by these banks. In Vermont, the control of Wall Street and the wealthy over this state is easily seen, Several examples will suffice. Bverybody knows that the vast majority of people in this state are thoroughly dicgusted and oprosed to the outrageous utility rate increases of thepast few years, With such wideppread opposition how does state government, which presumably representas the people, allow these rate increases to go through. From Tom Salmon to Stella Hackel to Richard Snelling - and to virtually every Democrat and Republican - the answer is the same, these people claim “We have to give these companies the rate of return they want or else they will not invest their capital in Vermont and vtinity service here will deteriorate." Also, according to these Democrats and Republicans, the banks and wealthy individuals who own these companies have " a right to a fair return on their investment 2and it would be illegal and immoral to deprive them of that right.” Thus, either the people of this state are forced to pay outrageous utility rates, or they suffer inadaquate service. Although there is @ "right" for wealthy investors to get a “fair return on their invest- ment," there is no such "right" for working people to get cheap and adaquate utility service, This is economic blackmail. We either give the individuals who own thesecompanies what they want - or we suffer, in Vermont we have a tax structure which is thoroughly regressive and unfair. People who earn $5000 a year pay larger percentage of thier income in taxes to state and local government than do people who earn $50,000 a year - and thecorporate income tax brings in less revenue than the cigarette tax, This, despite the fact that the top 3% of Vermont's income recipients earn as much money as do the bottom og. And what do the Democrats and Republicans say about this legalized robbery? Without exception, their response is the same, They say that; “We have to give tax breaks to the corporations and wealthy individuals or else they'll leave the state and go elsewhere. If we don't give ther what they want they'll move to New Hampshire, or Mississippi or Hong Kong - and we'Bl have fewer jobs and less sobial services than we pre- sently do." Once again - economic blackmail, Either wé get down on our knees and beg the corporations tocome here and exploit us - granting them tax breaks, cheap labor and direct state aid - or they'al go some- where else and, presumably, we'll be worseoff than before. Despite the fact that many low income and working people are suffer- ing serious economic hardship during this deptession period, the Vermont State Legislature recently made substantial cuts in education, social servicesand health care, At a time when people desperately need more help from the government, they are getting less. Why? The Democrats and Republicans say that if we don't cut government spending our “credit