The Foundry

• Economic Consequences of Russia’s Invasion of Georgia – Shopfloor.org

Looking at U.S. trade data, we’re a little suprised to see that even with its energy resources, Russia’s economy is still second tier. In 2007, Russia ranked 30th among countries in the value of U.S. exports shipped there, $7.3 billion, right behind the Philippines…

• A Conservative Blueprint for Health Care – The Next Right

The liberals are setting us up for a tax increase, and they’re using health care to do it. They want to double federal taxes as a percent of the economy from roughly 20% today to 40% over the next half-century. Most of these new taxes would go toward socialized medicine…

• Don’t Hold Your Breath – Adam Smith Institute

As early as 1992, the Adam Smith Institute propagated the use of marketable permits for tackling high CO2 emissions (see Rethinking the Environment). This cap and trade system means that while the government has limited the overall value of emissions, firms (polluters) can trade their pollution permits…

• Thursday Video: Social Security (and Payroll Taxes) Turn 73 Years Old Today – The Tax Foundation

Today is the 73rd birthday of the Social Security system in the United States. Signed into law in 1935, the first payroll taxes were collected in 1937 and the first payment made in 1940. Although initially the system was designed to pay out benefits from a reserve fund, it was changed in 1939…