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


August 29, 2016, 1:03 pm, 1668465

Today is August 29, the 397th birthday of Jean-Baptiste Colbert, the French Minister of Finance under King Louis XIV and reorganizer of the finances of the country along protectionist lines. On taxes, though, he sought to broaden the base of tax and lower the overall rate, and his summation ...


August 26, 2016, 1:03 pm, 1667904

Today is August 26, the date in 1842 when Congress changed the federal fiscal year start from January 1 to July 1, to give Congress time to deliberate and pass a budget. Congress frequently missed the deadline, so in 1976, the federal fiscal year was changed to October ...


August 25, 2016, 1:03 pm, 1667569

Today is August 25, the 100th birthday of the National Park Service. The Service manages 59 national parks and 354 other sites, areas, and monuments. The NPS spends about $3 billion per year, raising about $500 million of it from fees, donations, and other private sources (including


August 24, 2016, 1:03 pm, 1667243

Today is August 24, the date in 1814 when British troops during the War of 1812 pushed aside American militia at Bladensburg, Md., marched into Washington, D.C., and set fire to government buildings including the Treasury. They also burned the Capitol, the White House, the Library of Congress, ...


August 23, 2016, 5:03 pm, 1666973

Earlier today, Hillary Clinton’s presidential campaign released a small business policy plan, which includes several proposals aimed at simplifying tax filing for small businesses.

So far, during the campaign, Clinton’s tax proposals have largely focused on raising taxes on high-income individuals and multi-national companies, rather than reforming the ...


August 23, 2016, 1:03 pm, 1666894

Today is August 23, the date in 1775 when King George III declared the American colonies to be in rebellion, rejecting the Olive Branch Petition proffered by American moderates. The Proclamation of Rebellion led directly to the Second Continental Congress’s decision to adopt a Declaration of Independence, listing ...


August 22, 2016, 7:03 pm, 1666676

Most countries tax some form of corporate income. However, the rates differ around the world, ranging from 0% in Bermuda to 55% in United Arab Emirates. The rest of the world, of course, falls somewhere in between. The GDP-weighted worldwide average is just under 30 percent. With most countries ...


August 22, 2016, 1:03 pm, 1666546

Today is August 22, the date in 1902 when President Theodore Roosevelt became the first U.S. president to ride in an automobile. In 1919, states began imposing excise taxes on gasoline and today it remains a key revenue source (if troubled, due to better fuel efficiency and ...


August 19, 2016, 1:03 pm, 1665962

Today is August 19, which is evidently National Soft Ice Cream Day. I fondly remember getting soft serve with my grandparents and after every dorm meal in college, but it also pops up over and over in state tax decisions. Why? Most states choose to exempt groceries from ...


August 18, 2016, 7:03 pm, 1665747

There’s a lot of misinformation about tax policy floating around online. Usually, the Tax Foundation can’t take the time to correct every erroneous claim about federal taxes that we run across on the internet. But it’s a slow August day, Congress is out of session, and I just came ...