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@BC59P63Agreements3mos ago

Elon musk makes an estimated 35-40 billion a year and he gets taxed 37% of his income which is 12.9 billion leaving 22.1 billion. people start getting taxes 37% of their income at 626,000 a year which would be 231,620 in taxes leaving 394,380. 394,380 is .00178452489% of 22.1 billion, the billionaires could absolutely afford to be taxed more.

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 @ISIDEWITH submitted…1yr1Y

Biden bans new offshore oil drilling along most of US coastline

President Joe Biden announced a ban on new offshore oil and gas drilling along most of the US coastline on Monday in a move designed to bolster his environmental and climate legacy as he prepares to leave office.The order will protect 625mn acres of ocean on the US east coast, the eastern Gulf of Mexico, the Pacific coasts of Washington, Oregon and California, as well as portions of the Northern Bering Sea in Alaska, the White House said on Monday.“My decision reflects what the coastal communities, business and beachgoers have known for a long time: that drilling off these coasts could cause irreversible damage to places we hold dear and is unnecessary to meet our nation’s energy needs,” Biden said.The executive action will not prevent oil and gas companies obtaining leases in the central and western parts of the Gulf of Mexico, areas that produce almost 15 per cent of the nation’s oil supplies. Nevertheless, the move is expected to complicate the policy agenda of incoming president Donald Trump, who has vowed to “drill, baby, drill” and boost US oil production, even though it is already at a record level.The Trump transition team said it was a disgraceful decision designed to exact “political revenge on the American people” and the incoming president said he would immediately “unban” Biden’s prohibition on new offshore drilling.“I have the right to unban it immediately . . . we can’t let that happen to our country. It’s our greatest, it’s really our greatest economic asset,” Trump told conservative radio host Hugh Hewitt in an interview on Monday.Biden’s action will probably be challenged by the oil industry in court and face pushback from Republicans in Congress. But overturning the order could prove challenging and may require an act of Congress, according to legal experts.Biden is using his authority under the Outer Continental Shelf Lands Act, to protect the areas from drilling — the same mechanism which former president Barack Obama used previously to ban offshore drilling in some Arctic and Atlantic waters in 2016.In 2019, a federal judge ruled that an executive order by former president Donald Trump that lifted an Obama-era ban on oil and gas drilling in the Arctic Ocean was unlawful.

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