Economics Roundtable

Technical Problems 3/9/15

The website was down several hours today, but is back up now.

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.


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Tax Foundation

May 4, 2015, 11:03 am, 1467083

Taxes are everywhere, and that includes the Star Wars universe. In Episode I: The Phantom Menace, the opening crawl brings up taxes almost immediately:

Turmoil has engulfed the Galactic Republic. The taxation of trade routes to outlying star systems is in dispute.

Hoping to resolve ...

May 1, 2015, 3:03 pm, 1465750

Montana legislators are now at home after a session that involved Governor Steve Bullock (D) vetoing two tax cut proposals from the Republican-led legislature. A third bill, which focuses instead on grately simplifying the tax system, is on Governor Bullock’s desk awaiting his veto or signature.

Current Montana income tax ...

May 1, 2015, 1:03 pm, 1465651

It was to be the year of tax reform in Nebraska, and for months, legislators wrangled with property tax reform options. But with no consensus on what it should look like, or even whether the focus should be on real or personal property tax relief, senators now appear ...

May 1, 2015, 11:03 am, 1465560

This post originally appeared as an op-ed on Forbes here.

The Vermont soda excise tax that was proposed this session has failed to make it out of committee. The 2 cent per ounce tax on sugar-sweetened beverages would have added up to 136 percent on to the price of ...

April 30, 2015, 5:03 pm, 1465024

Two professional football players - Jeff Saturday and Hunter Hillenmeyer - won their cases in the Ohio Supreme Court in opinions released this morning.

The former Colts center and the former Bears linebacker had similar complaints against the Cleveland Board of Revenue. Both took issue with the city's use ...

April 30, 2015, 3:03 pm, 1464951

Two years after Minnesota Governor Mark Dayton (DFL) shepherded a $2.1 billion tax increase through the legislature, the Republican-controlled House of Representatives has passed a $2 billion tax cut plan which, notably, does not attempt to roll back Dayton’s tax increases for top income earners. While the Democratic-controlled Senate ...

April 30, 2015, 11:04 am, 1464782

In 2012, Kansas enacted a tax cut package that reduced income tax rates while completely eliminating income tax on pass-through entities like LLCs, S corps, partnerships, farms, and sole proprietorships. At the time, we warned that the pass-through exemption had no economic justification and “will encourage economically inefficient, ...

April 29, 2015, 5:03 pm, 1464224

The Georgia legislature adjourned weeks ago, but one of the key bills to emerge from the 2015 session, the Transportation Funding Act of 2015 (HB 170), continues to make headlines as it awaits the Governor’s signature. The other day, PolitiFact Georgia stepped into the fray, weighing in ...

April 29, 2015, 5:03 pm, 1464223

At the beginning of the month, we reported on the tax reduction plan passed by the Texas Senate that focuses on reducing the margin tax and property taxes. Today, the House passed a slightly larger tax cut overall; the difference is that it has a bigger reduction in the margin tax ...

April 29, 2015, 3:03 pm, 1464140

I recently came across a very good passage in the Wealth of Nations about paying for public infrastructure. Adam Smith seems very keen to have government provide for public infrastructure like roads, bridges, and canals, but also keen to have those that make use of the infrastructure contribute to ...