Economics Roundtable

May 2014 Payroll Employment

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

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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 .


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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?


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Tax Foundation


July 28, 2014, 11:03 am, 1306486

In his recent speech calling for legislation to stop corporate inversions, President Obama added fuel to the misperception that when a company moves its headquarters to another country it avoids paying U.S. taxes. He said, "If you are doing business here, if you are basically an American company but ...


July 24, 2014, 5:03 pm, 1304938

Just as Australia repealed its debated carbon tax, India is intensifying its own taxation of non-renewable energy by doubling its coal tax from $0.83 to $1.67 per metric ton.

India estimates that the tax increase will generate $1.2 billion of additional revenues for its National Clean Energy Fund, ...


July 24, 2014, 1:03 pm, 1304758

This week’s map takes a look at when each state first adopted its cigarette tax. Although the federal government had been taxing tobacco since the 18th century and cigarettes specifically since 1862, states did not begin doing so until the early 20th century – when manufactured cigarettes surpassed ...


July 23, 2014, 5:03 pm, 1304145

The recent death of Eric Garner after an incident with New York police has recently made headlines and sparked controversy about excessive force and police practices. Sources report that police and prosecutors are investigating the use of a chokehold by an officer in the process of detaining ...


July 23, 2014, 5:03 pm, 1304144

The House Committee on Ways and Means amended the Student and Family Tax Simplification Act last Thursday and has issued a comprehensive report on the bill. The bill, or H.R. 3393, was developed by Representatives Diane Black (R-TN) and Danny Davis (D-IL) in an attempt to further ...


July 23, 2014, 3:03 pm, 1303901

This November Massachusetts will vote to repeal House Bill 3847. The law, signed in 2013, raised the state’s gas tax from 21 to 24 cents per gallon and automatically tied the tax rate to inflation for future years. Despite opposition by the group Tank the Gas ...


July 23, 2014, 3:03 pm, 1303900

Australia is the first developed country to both institute and repeal a tax on carbon. On Thursday, July 17, the Australian Senate repealed its carbon tax with a 39 to 32 vote.

After the repeal, Prime Minister Tony Abbot characterized the tax as destructive to jobs, families and the ...


July 23, 2014, 3:03 pm, 1303898

The recent death of Eric Garner after an incident with New York police has recently made headlines and sparked controversy about excessive force and police practices. Sources report that police and prosecutors are investigating the use of a chokehold by an officer in the process of detaining ...


July 23, 2014, 3:03 pm, 1303897

Recently Spain announced that it is increasing the country’s taxation rate on total bank account deposits to 0.03 percent. New revenues from the tax will be distributed to each of Spain’s 17 regional governments to help them pay for budget shortfalls, which the federal government prohibits from being ...


July 23, 2014, 3:03 pm, 1303899

A law professor wrote an article discussing our work ensuring state tax guidance to same-sex couples after DOMA was struck down. About half the states both (1) require state tax return filing status to match the federal tax return filing status and (2) ban gay marriage. As these ...