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BusinessPolicies & Politics

Obama: The Richest of the Rich Need to Pay More Tax (Equal to Normal Folks)

Billionaire Warren Buffet made waves recently by saying that he (and other billionaires) should be taxed more. The richest of the rich often pay a lower tax (as a % of their income) than the average citizen in the U.S.

Why?

How is that fair?

Even Buffet and Bill Gates have been telling people it’s just not fair (see video below).

Now, Obama is stepping it up and seeking to implement a new tax base that gets millionaires and billionaires to pay at least the same % of their income in taxes as normal people like you and me. The rule, named after Warren Buffet, would be called the ‘Buffet Rule’ according to early reports. Go Obama! The announcement is supposed to be made tomorrow, Monday. And I’m sure the effort will see huge opposition by the Republican party, the greatest promoters of the rich getting richer while the rest of us suffer the U.S. has seen in a long time. Here’s a video on that:

What does millionaires and billionaires paying a fair share in taxes have to do with the environment? What do economic matters like these have to do with ‘saving the planet’?

Well, as Goodard College’s Charles Eisenstein beautifully points out, the centralized economic and power structure driving society today is intricately linked to our tremendous energy and environment problems.

If we are going to successfully address the global climate crisis, peak oil, and other environmental and energy problems facing us, we need to also address the great financial inequality in society today.

Who has been blocking clean energy growth and development and solutions to the environmental crisis the most? The richest of the rich in the oil and coal industries (and their puppet politicians).

 




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