Here’s a principles-of-economics question: Suppose the U.S. gross domestic product (national income) is currently $14 trillion. Then suppose the U.S. raised all tariff, income tax, and sales tax rates to 100 percent. How much money would the government collect? If you realized that nobody would generate taxable income under such …
The recent explosions in Massey’s Upper Big Branch coal mine and on the Deepwater Horizon drilling rig highlight the tragedy of workplace fatalities. Though improvement in statistical averages do little to lessen the loss of those whose loved ones have died, the American workplace has gotten safer which means fewer …
At the press conference accompanying the political hara-kiri by his director of the Minerals and Management Service, President Obama changed topics and said, “Now let me make one broader point, though, about energy. The fact that oil companies now have to go a mile underwater and then drill another three …
For his sake, let’s hope that Bruce Arnold at the Congressional Budget Office doesn’t get the Gabriel Calzada treatment from the American Wind Energy Association and the National Renewable Energy Laboratory. To freshen your memory, Gabriel Calzada is the economist at the King Juan Carlos University who got out his …
Why has American’s concern with global warming dropped to dead last among issues surveyed (even dead last among environmental issues)? Because a great deal of their concern was based on projections that have been dramatically toned down or exposed as outright fraud. The hysteria is unsupportable and people have caught …
The global-warming economics coming out of Washington doesn’t match the global-warming economics of Copenhagen. For instance, according to Senator John Kerry (D-MA) cutting CO2 creates jobs and stimulates the economy. At least that’s what the press release describing his cap-and-tax legislation claims. But in Copenhagen this view of economics gets …
Senators Lieberman, Graham, and Kerry have come forward with a bold, new proposal on global warming… or not. Here is Senator Lieberman’s description of the “new” proposal: “You remember the artist formerly known as Prince?” Lieberman said. “This is the market-based system for punishing polluters previously known as ‘cap and …
On November 23, 2009 the Congressional Budget Office issued “Economic and Budget Issue Brief: The Costs of Reducing Greenhouse-Gas Emissions.” This brief echoed many of the points The Heritage Foundation has made in its reports, WebMemos, blogs and our responses to a request from Henry Waxman (D-CA), chairman of the …
