A new study reveals that the wealthiest Americans, those whose income places them in the top 10% of earners, are responsible for 40% of the nation’s total greenhouse gas emissions. The study links income, especially income derived from financial investments, to the emissions used in generating that income. The authors suggest that policymakers adopt taxes focused on shareholders and the carbon intensity of investment incomes in order to equitably meet the goal of keeping the global temperature to 1.5 C of warming.
A new study, led by the University of Massachusetts Amherst, reveals that the wealthiest Americans, those whose income places them in the top 10% of earners, are responsible for 40% of the nation’s total greenhouse gas emissions. The study, published in PLOS Climate, is the first to link income, especially income derived from financial investments, to the emissions used in generating that income. The authors suggest that policymakers adopt taxes focused on shareholders and the carbon intensity of investment incomes in order to equitably meet the goal of keeping the global temperature […]
Big surprise
One of the most interesting data points I have seen recently is that over 50% of our national legislators are now millionaires. So we now have a system where Billionaires are funding the election of millionaires. Our legislators become wealthy due to insider trading – profiting off the knowledge they obtain during their duties -, book deals, speaking engagements, and employing family as part of campaign expense. Why should we expect that legislation would be generated, or regulations modified, that would negatively impact the lifestyles of the wealthy? The life of the wealthy is markedly different from the rest of us. We can be assured, however, that the interests of the wealthy will be well represented in the halls of congress.