08 Aug '11, 12am

Stop Taxing Income, Start Taxing Emissions (via @OnEarthMag)

Congress continues to struggle with our huge and expanding budget deficit. Do we raise taxes or cut spending? Soon, I believe both will be necessary to make a meaningful change in the nation's financial health. Our current system taxes productivity -- the more you work and the more you earn, the more you pay. There is a better way. Our economic system exists in an unhealthy marriage with fossil fuels -- coal, oil, and natural gas. Domestic oil supplies are dwindling, requiring us to buy oil in the international market. In 2010, Americans spent a staggering $337 billion dollars on foreign oil imports. While Canada and Mexico are among our top suppliers, we also conduct business with politically volatile countries, such as Saudi Arabia and Iraq. And we are the main oil importer from Nigeria, a country that has been so mired by spills and poor environmental oversight that the...

Full article: http://www.onearth.org/blog/stop-taxing-income-start-taxi...

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