Economics Roundtable

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.


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.


The Economics Roundtable is sponsored by EconModel.

The Classic Economic Models cover micro, macro, and financial markets.

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Tax Foundation

November 25, 2015, 9:03 am, 1581887

Each year, the Tax Foundation honors state legislators, executives, and other individuals with its Outstanding Achievement in State Tax Reform award. As the name suggests, the honoree's accomplishments must be (1) outstanding, (2) an achievement (not merely a proposal) during 2015, and (3) reform taxes to make them more simple, more neutral, more transparent, more stable, and ...

November 24, 2015, 7:03 pm, 1581599

Last week, S.2320, a bill that would create Universal Savings Accounts in the federal tax code, was referred to the Senate Finance Committee. The bill, sponsored by Senator Jeff Flake and Representative Dave Brat, would allow Americans age 18 or older to open an account to which they ...

November 24, 2015, 3:03 pm, 1581460

Part 3: Lower Tax Rates on Saving and Investment Discourage Saving and Investment

This blog continues a discussion of a recent piece by the Center for American Progress, “Long-Termism or Lemons: The Role of Public Policy in Promoting Long-Term Investments,” by Marc Jarsulic, Brendan Duke, Michael ...

November 24, 2015, 1:03 pm, 1581386

The merger between U.S.-based pharmaceutical company Pfizer Inc. and the Irish-based Allergan has sparked the predictable outrages and gnashing of teeth. For example, Senate Minority Leader Harry Reid—whose home state of Nevada has neither a corporate nor individual income tax and may benefit more from domestic “inversions” than nearly ...

November 24, 2015, 1:03 pm, 1581385

Over the past few years, politicians in both parties have expressed enthusiasm for lowering federal tax rates. This makes sense: many economists have found that high tax rates hurt economic growth and international competitiveness. Meanwhile, the U.S. levies some of the highest rates in the ...

November 19, 2015, 3:03 pm, 1579162

Senator Sanders and Governor O’Malley made some inaccurate references to past tax rates during their presentations last Saturday night. All three candidates, including Secretary Clinton, failed to mention the economic consequences of past policies of the sort they suggested.

Senator Sanders was asked how high he would raise the top ...

November 19, 2015, 1:03 pm, 1579093

Over the past couple of weeks there has been a lot discussion about the value-added tax among those in the media and in certain policy circles.  The conversation began because Senator Ted Cruz introduced a tax reform plan that would eliminate both the payroll tax and the corporate income ...

November 18, 2015, 3:03 pm, 1578500

In 2015, the vast majority of federal revenue came from just two sources: individual income taxes and payroll taxes. But it wasn’t always that way. In fact, the sources of federal revenue have changed dramatically over the course of the last century.

Let’s travel back one hundred years, to ...

November 17, 2015, 3:03 pm, 1577865

Two weeks ago, we analyzed a proposed hike in the Oklahoma state sales tax, finding that the increase would give Oklahoma the highest sales taxes in the country. While the Oklahoma statewide sales tax currently sits at 4.5 percent, and the hike would bring the statewide rate to ...

November 17, 2015, 1:03 pm, 1577789

Chicago last month approved a $543 million property tax increase, phased in over four years. With Illinois residents already paying an effective property tax rate of 2.32 percent (in 2013, the most recent year Census data is available), the increase will likely displace New Jersey’s long-standing record of ...