Economics Roundtable

Technical Problems 1/21/15

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May 2014 Payroll Employment

After 76 months, we finally got back to the prerecession level of payroll employment.

Click on the image to get a bigger version.


Jobs

The best summary of the state of our economy is the graph (below) of employment as a fraction of population for people over 16 years old. The decrease is large, but the most troubling feature of the graph is the flat trend .


Click on the image to get a bigger version.


Graph-of-the-Year Candidates

Donald Marron likes European interest rates. Click on the image to get a bigger version. Can you find three distinct subperiods?

Brad DeLong favors the U.S. gdp gap.


Remember M1?

Money Supply M1 growth is now over 20% per year over a 12 month lag. M1 growth has touched 20% before, but not with excess reserves of $1.6 trillion. Where is M1 headed?


Click on the chart for a larger version.


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Tax Foundation


January 30, 2015, 5:03 pm, 1413456

The Washington Post yesterday posted an editorial opposing the repeal of the Affordable Care Act’s medical device tax, on the grounds that it would constitute “caving in to special interests.”

That view of the situation is deeply troubling in a number of ways, and I feel especially compelled to ...


January 30, 2015, 3:03 pm, 1413382

This post originally appeared as a Forbes op-ed here.

Ohio tax policy needs a lot of work, and Governor John Kasich talks about it a lot. The state ranks 44th in the Tax Foundation’s State Business Tax Climate Index, the municipal income tax system is the worst in the ...


January 29, 2015, 11:03 pm, 1412816

This afternoon, Nevada Governor Brian Sandoval proposed restructuring the state's existing $200 annual Business License Fee into a quarterly graduated tax that is calculated based on a business's total revenue and industry. In the proposal, there are 30 possible industry classifications and 67 possible options for each (based ...


January 29, 2015, 11:03 pm, 1412815

This afternoon, Nevada Governor Brian Sandoval proposed restructuring the state's existing $200 annual Business License Fee into a quarterly graduated tax that is calculated based on a business's total revenue and industry. In the proposal, there are 30 possible industry classifications and 67 possible options for each (based ...


January 29, 2015, 5:03 pm, 1412612

As President Obama prepares to roll out another tax increase proposal targeting capital gains and dividends, it’s instructive to look at what happened the last time he did that. Fortunately, the IRS just released preliminary data on tax year 2013, the year the top tax rate on capital ...


January 28, 2015, 1:03 pm, 1411550

The Obama Administration yesterday backed down from its plan to tax the earnings on 529 savings accounts, a kind of saving account for higher education under section 529 of the tax code. At Bloomberg, Richard Rubin and Mike Dorning report: "A White House official, speaking on condition of anonymity, ...


January 27, 2015, 5:03 pm, 1410931

For this week's tax map, we're continuing our series on pass-through businesses. For the first map of the series, check out our map from last week

Sole proprietorships, S corporations, limited liability companies (LLCs), and partnerships are also known as pass-through businesses. These entities are called pass-throughs, because the ...


January 26, 2015, 5:03 pm, 1410201

The Congressional Budget Office (CBO) has released its 2015 to 2025 Budget and Economic Outlook. In this yearly publication, the CBO examines current laws (taxes and spending) and projects the outlook for the federal government’s budget for the next 10 years.

One of the topline projections the CBO makes ...


January 26, 2015, 3:03 pm, 1410117

Cut the individual income tax and raise the gas tax—that was South Carolina Governor Nikki Haley’s message in her 2015 State of the State address.

Though there aren’t a lot of details yet, it’s no surprise that South Carolina’s income tax rate is a competitive disadvantage for the state. ...


January 23, 2015, 5:03 pm, 1408973

As part of his new tax plan, the president has proposed ending the “step-up” in tax basis for inherited assets, and, furthermore, requiring the capital gains tax to be paid at death rather than when an heir later sells the assets. There would be an exception for surviving ...