Solution
This is because steam ships and uses older libraries.
Remove libstdc++
rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/amd64/installed/libstdc++6-4.6-pic_4.6.3-1ubuntu5+srt4_amd64 && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/amd64/installed/libstdc++6-4.6-pic_4.6.3-1ubuntu5+srt4_amd64.md5 && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/amd64/installed/libstdc++6_4.8.1-2ubuntu1~12.04+steamrt2+srt1_amd64 && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/amd64/installed/libstdc++6_4.8.1-2ubuntu1~12.04+steamrt2+srt1_amd64.md5 && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/amd64/usr/lib/gcc/x86_64-linux-gnu/4.6/libstdc++_pic.a && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/amd64/usr/lib/gcc/x86_64-linux-gnu/4.6/libstdc++_pic.map && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/amd64/usr/lib/x86_64-linux-gnu/libstdc++.so.6 && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/amd64/usr/lib/x86_64-linux-gnu/libstdc++.so.6.0.18 && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/amd64/usr/share/doc/libstdc++6 && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/amd64/usr/share/doc/libstdc++6-4.6-pic && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/i386/installed/libstdc++6-4.6-pic_4.6.3-1ubuntu5+srt4_i386 && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/i386/installed/libstdc++6-4.6-pic_4.6.3-1ubuntu5+srt4_i386.md5 && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/i386/installed/libstdc++6_4.8.1-2ubuntu1~12.04+steamrt2+srt1_i386 && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/i386/installed/libstdc++6_4.8.1-2ubuntu1~12.04+steamrt2+srt1_i386.md5 && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/i386/usr/lib/gcc/i686-linux-gnu/4.6/libstdc++_pic.a && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/i386/usr/lib/gcc/i686-linux-gnu/4.6/libstdc++_pic.map && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/i386/usr/lib/i386-linux-gnu/libstdc++.so.6 && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/i386/usr/lib/i386-linux-gnu/libstdc++.so.6.0.18 && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/i386/usr/share/doc/libstdc++6 && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/i386/usr/share/doc/libstdc++6-4.6-pic && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime.old/i386/usr/share/doc/libstdc++6
Remove libgcc_s
rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/amd64/lib/x86_64-linux-gnu/libgcc_s.so.1 && rm ~/.local/share/Steam/ubuntu12_32/steam-runtime/i386/lib/i386-linux-gnu/libgcc_s.so.1
After doing this, try to launch Steam again. It should be able to run properly now.
Note
There may be more of these files you have to remove, so try these commands first, then run updatedb command try and locate any of these librarires again. (If you get command not found when running updatedb you need to install the mlocate package)
References
Steam won't open, libGL errors